MORN) peers. Non-U.S. companies make up almost a third of the fund. Welcome to TheStreet's Fund Manager Five Spot, where America's top mutual fund managers give their best stock picks in five fast and furious questions. Are you a bull or a bear? Samuels: An effective long-short manager should rarely be solely bullish or bearish. The Palantir Fund is a global multi-cap long-short fund. This flexible charter provides a broad assortment of tools that allow more textured and effective risk management than long-only funds typically possess. Our mission is to identify opportunities to be simultaneously positioned as a bull and a bear in specific stocks and sectors. With that said, we have been growing increasingly bearish on the broad U.S. stock market since summer. If signs begin to emerge that government-fueled liquidity excesses are winding down -- and we feel this is a question of when, not if -- our response would be more decisively bearish. For now, we are specifically bearish on highly leveraged companies that rely on the growth of American consumer borrowing and spending on discretionary and luxury goods. At the same time, we are bullish on Asian consumer spending on basic goods and services, which results from rising income levels. In other words, we are bullish on Asian needs and bearish on American wants.