A very large hedge fund manager, who I met in Hong Kong a couple...

A very large hedge fund manager, who I met in Hong Kong a couple of years ago, explained that many of their strategies are not what they seem
In most cases his fund takes a view on one sector against another
That is he shorts one group and goes long against this with another group.
The aim obviously is to get it right both ways
But even if they lose on the shorts for example doesn't mean they lose overall
It is a complicated business, but very rarely would they short an individual company alone.
At this stage WBT could definately fit into a small cap tech sector short for example
A long position could be set up against this elsewhere.
It is very difficult to just look at a company's short position and draw conclusions about what it is linked to