Jupiter's Clunie: Why I am taking profits on my Hargreaves short

Jupiter's James Clunie has been cutting back on a short position in Hargreaves Lansdown ahead of the firm's full year results tomorrow, as he begins to find "many, many ideas" for other companies to bet against.

Having returned 100% in 2013 alone, Hargreaves shares have had a tougher time of it this year as investors take profits and await indications of how a move to clean pricing will affect the platform's runaway growth rates. Clunie, manager of the Jupiter Absolute Return fund, described the company as forming part of his principle shorting theme: "good company, bad stock", and said this year had proved more fruitful after a long period in which the soaring share price burned shorters' fingers. Hargreaves has fallen 17% year-to-date, with analysts at both UBS and Liberum issuing sell note...