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Jim Chanos Bailey McCann, Opalesque New York:
Jim Chanos, Founder of Kynikos Associates is a legendary short seller. His market viewpoints are widely followed by investors and managers alike. He was recently interviewed by Greg de Spoelberch for Opalesque TV.
Chanos has been a short seller almost since the beginning of his career. His first short was Baldwin United in 1982. "That got me thinking about the whole idea of whether or not there was a business to be made in fundamentally analyzing short ideas," he says. From this idea he founded Kynikos Associates in 1985 as a hedge fund management company to manage short-only partnerships.
Today, Kynikos has expanded, managing approximately $6bn with $5.5bn in short-only and the remainder in a long/short fund. Both the short-only and long/short programs invest globally.
"One of the things I hear often from people is, well, I do not like to short stocks because they can go up infinitely, but they can only go down to zero. I, of course, always point out that I have seen many more stocks go to zero than go to infinity," Chanos says by way of explaining why he prefers to short. One of his biggest current targets is China. Chanos has been outspoken on his view that China’s bad debts outpace those of Greece and Spain.
According to Chanos’ research, the current high level of infrastructure build up happening in China is ...................... To view our full article Click here
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