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Matthias Knab, Opalesque for New Managers: Short selling is one of the toughest disciplines in investing. Many hedge funds have abandoned it after painful losses and meme-stock manias. But Steamboat Capital Partners has quietly rewritten the short selling story - and in our latest Opalesque Investor Workshop, founder Parsa Kiai lifted the hood on how.
Kiai founded Steamboat in 2012 after serving as Partner at Sonterra Capital, where he helped launch the fund in 2008. Earlier, he was an energy analyst at Perry Capital and began his career at Goldman Sachs' Investment Banking Division. Over two decades, he has built a reputation as one of the most disciplined practitioners of short selling in the hedge fund world.
In this 60-minute session, Kiai explained: - The Nine Types of Short Sale Archetypes
- Why shorting indices rarely works,
- Why most individual stocks underperform the index - what what's the opportunity here,
- and how disciplined short portfolios can protect longs, reduce volatility, and sharpen long investing.
He walked through examples of how Steamboat navigated COVID and tariff sell-offs with minimal drawdowns, while remaining net long - and highlighted real shorts such as Cable One, WolfSpeed, and Medical Properties Trust that generated profits and downside protection.
The webinar also tackled red flags that make great shorts (the 9 types of short sale archetypes, which also help avoid bad longs), why diversification and catalysts matter in shorting, and how today's environment creates opportunities in overlooked names like Wendy's, Harley Davidson, and Flower Foods.
What made this session special? Attendees joined from 37 countries across the entire alternative investment universe - including family offices, endowments, sovereign wealth funds, insurers, pensions, funds of funds, and asset managers. This global audience reflects just how rare and relevant Steamboat's approach is.
The user-friendly video replay is available here.
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