Argonaut's Norris: Everybody loves an uncorrelated return when the market goes down

"In certain cases you are damned if you do, and damned if you don't," Argonaut CEO Barry Norris told Investment Week when asked about the trials and tribulations of running a long/short portfolio in an unprecedented environment. Norris, who founded Argonaut in 2005 and is CEO, CIO and lead manager on the Alpha, Pan European and Absolute Return funds, said managers in the long/short space are often criticised for generating uncorrelated returns during rising markets, as well as for 'punishing' companies via their short books. These factors have become exacerbated over the past 12 month...