The extreme bullish market action of the last month has left an increasing number of investors feeling a disconnect between a worsening macro-economic picture and lofty equity prices. Using inverse or leveredged ETFs to short the market for more than very short periods of time presents a major potential risk in the form of compounding via daily resets. The AdvisorShares Ranger Equity Bear ETF (HDGE) holds an actual portfolio of actively managed short positions meaning bears don't need to worry about compounding losses over longer-term holding periods. Two of the funds managers, Brad Lamensdorf and David Tice, join Let's Talk ETFs to discuss their outlook for markets and delve into their investing process, including specific names they're particularly bearish on.Show Notes3:00 - How do you explain the extremely bullish market action of the last month, since the March 23 low?5:15 - Once COVID-19 is resolved, will the economy and market snap back?8:30 - Who's debt buying right now?12:30 - What do you say to the "don't fight the fed" argument?14:15 - Dynamics of inverse ETFs and how they differ in fundamental ways from HDGE?19:15 - Having to disclose your positions daily, is "front-running" a serious concern with HDGE?25:00 - Process for selecting or excluding short candidates (ZM) (CACC)31:15 - Why do you not have more currently allocated to energy sector shorts?33:30 - Why are you short so many financials at present?38:00 - How do you determine position sizes?39:30 - Names you're currently particularly bearish on: (CIT), (CACC), (SYF), (ABS), (W), (SC) 45:45 - Predictions for the closing price on the S&P 500 on December, 31, 2020Learn more about your ad choices. Visit megaphone.fm/adchoices