Bill Fleckenstein launched his last short fund heading into the 2008 crisis and, even more importantly, closed his fund at the bottom in March of 2009.
He is now beginning the process of opening a new short fund based on his belief that the secular bear market rally in stocks will soon have exhausted itself. The reason? A rise in interest rates.
Fleckenstein says that, "the Fed is never going to stop QE. The bond market is going to stop them."
A perfect summary from the smartest money in the capital markets:
