Short nothing and long lithium: the hedge fund breaking all the rules
Auscap’s Tim Carleton and Will Mumford’s long-only bets generated strong returns for their fund last year. They are also not worried about the Pilbara Minerals short sellers.
In the final months of 2023, Auscap’s Tim Carleton and Will Mumford found themselves in a position few other hedge fund managers could claim: their short book was empty.
Back in October, that decision would have seemed all the more peculiar because as the year progressed, long-short strategies had begun to increasingly rely on shorting stocks to generate returns, given the ASX had been persistently tracking sideways since January.
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