For short-sellers in U.S. stocks, the agony just piles on

In January 2014, veteran short-seller Bill Fleckenstein said he was readying a new fund to bet on falling stock prices. Despite lackluster U.S. economic data, a world grappling with slow growth, concern that Greece and Ukraine could default on their debts, the U.S. stock market has been more than resilient. It has been impossible," Seattle-based Fleckenstein told Reuters. "It all comes down to free money and that old saw - 'don't fight the Fed,'" said Jeff Matthews, who runs Ram Partners, a Naples, Florida-based hedge fund.

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