
Drowning in Oil



Here’s the first of my short portfolios (the second one will be shown tomorrow). This is the smaller of the two, with ten short positions, eight of which are profitable and two of which have very small losses.

About a year ago, it looked like interest rates were on a resolute path lower. Not anymore. Across the board, they are strengthening and starting to creep up, and judging from how sickly the bond market looks, it seems to agree with my own prognosis: interest rates are moving north, and not in a small way.
