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Jonathan Shapiro

An Australian perma bear ends retirement as markets turn upside down

Russell Clark was one of the world’s most bearish, and successful, hedge fund operators. After four years, he sees plenty of pain and is back for a second act.

Jonathan ShapiroSenior reporter
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Not all big shorts end up being featured in The New York Times bestsellers and Hollywood films.

The traders who made millions betting on a house crash in 2008 were lionised in popular culture. But Australian hedge fund manager Russell Clark’s short against the stock market from 2018 to 2021 had no happy ending and ultimately led him to close his fund.

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Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
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    Original URL: https://www.afr.com/markets/equity-markets/an-australian-perma-bear-ends-retirement-as-markets-turn-upside-down-20250307-p5lhp5