One London investor is finding a reason to short again as the European Central Bank ends its bond-buying program. Redhedge is starting a relative-value strategy in corporate bonds previously targeted for purchase by the ECB, according to Chief Investment Officer Andrea Seminara. The firm will take short as well as long positions after years of unprecedented demand for investment-grade debt when the only game in town was to buy. The ECB has bought more than 160 billion euros ($185 billion) of corporate bonds since it started the program in 2016 to boost the region’s economy.