19 Comments
Mar 19Liked by Russell Clark

This was a very poetic ending. Made me want to charge out and do something.

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Isn’t the ‘hedge’ in a hedge fund all about keeping something for the swim back?

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Great analogy to many things in life and success, even family health. There is no one way to get to that dream. Keeping at it with wide eyes is the key.

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So what’s holding your back now , to start the short trade ?

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Is it a shorts only swim? (excuse the pun :-))

Or are you still playing with a long book?

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Is the "saving nothing for the swim back" meant to be a metaphore for being heavily leveraged?

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Love that movie too!

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What a great read, now I’ll have to watch the movie. We all end up where we need to be, regardless of the outcome or being spent at the end of your swim, have a crack, I think your scenario is inevitable and imminent. I’d like to join you so please send me the prospectus.

BTW - I had no idea (and not sure I agree ) that the Japanese were so intellectually superior ?

Thanks again.

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Maybe now isn't the right time to put a lot of the short position ideas on, but having a structure in place now doesn't hurt if you think the opportunity will be there in the next year. It makes me think of the Palm Valley Capital fund. I'm not sure if you're familiar with it, but their strategy is long-only small-cap stocks, but they are targeting as close to zero drawdown as possible. They launched in May 2019 because they thought we were getting close to the end of the cycle, and this timing had them basically sitting in cash until the Covid crash when they started putting on positions in size.

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