Through the recent decade-long bull market many have viewed short positions as simply a drag on performance. But in 2022 the regime has shifted. Portfolio protection has come back to the fore with the S&P 500 shedding around a quarter of its value so far this year, and concerns about global economic growth and central bank policy rising.

In this episode, Alison Savas and Jacob Mitchell discuss Antipodes’ approach to short selling and examine the case for Snap Inc. (NYSE: SNAP).