As Totus Capital’s Alpha strategy notched another month of negative returns, portfolio manager Ben McGarry expressed the irritation felt by other hedge funds trying to navigate the relentless surge in equities that has spread to even the most speculative corners of the market.
“The last few months have been frustrating,” McGarry wrote in the Sydney-based short seller’s latest update to clients. “When markets throw caution to the wind, lower quality and more speculative stocks can outperform established profitable businesses.”
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