Equities killed it in Q1 2013, so being short was definitely a loser’s strategy. A prime example: Leuthold Weeden‘s Grizzly Short Fund (MUTF:GRZZX), which fell by double-digits in the first three months of the year.
A couple of GRZZX’s top shorted positions include Lions Gate Entertainment (NYSE:LGF), which has gained 45% year-to-date), and MGM Resorts International (NYSE:MGM, +13%).
Of course, shorting has been a terrible strategy for most of the past decade — at least for those in the Grizzily fund. During this period, the average return on GRZZX was a brutal -13%.