diff -r 827a1cc127bf -r b335882c2f21 mercurial/url.py
--- a/mercurial/url.py	Wed Jan 05 10:47:35 2011 +0100
+++ b/mercurial/url.py	Sun Jan 02 15:30:12 2011 +0200
@@ -512,6 +512,8 @@
         def connect(self):
             if hasattr(self, 'ui'):
                 cacerts = self.ui.config('web', 'cacerts')
+                if cacerts:
+                    cacerts = util.expandpath(cacerts)
             else:
                 cacerts = None