Too much bounce

Mr Bearbull

Mr Bearbull
Too much bounce

The value of the Bearbull Global Fund rose 5.2 per cent in January. That was a good start to the year, but it prompts a thought: is that all there will be for 2013? My concern is understandable; 2012 started off in even livelier fashion - the fund's value rose 14 per cent in the first two months - then it spent much of the rest of the year dribbling downwards. So, by the end of the year, it had surrendered a third of those gains as share prices faltered.

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