An interview with Jim Chanos

[Behappyalways]

An interview with Jim Chanos
http://cdn1.valuewalk.com/wp-content/upl...Chanos.pdf


http://investideas.net/forum/viewtopic.p...5&start=60

[Behappyalways]

Again, we looked at places that had gone crazy in terms of credit extension on the back of real estate. At the peak, new residential construction in the US was 6 percent of GDP — it is normally 2 or 3 percent. It was a big driver. In China, by the way, the official number is 12 but the real number is closer to 20 percent. To put the current China bubble in in perspective, it dwarfs what happened in the West.

An interview with Jim Chanos
http://cdn1.valuewalk.com/wp-content/upl...Chanos.pdf


http://investideas.net/forum/viewtopic.p...5&start=60

[weijian]

Interesting interview with Jim Chanos:
http://www.valuewalk.com/2014/10/jim-cha...t-a-stock/

(1) On Petrobras - "even if you gave this company Exxon’s margins both upstream – and I see your eyebrows – and downstream, it would still be break even cash flow" - Our local O&G powerhouses SCM/ Keppel Corp have a substantial order of drillships/high spec rigs from Petrobras. If Petrobras sneezes, they will catch a cold.

(2) On China - "China is the only advanced country in the world that knows its annual GDP on January 1 of that year. It’s true" - music to the ears of our forum's regular china bashers.

(3) On art - "Enjoy it. Put it up on your wall. But to use it as a financial investment or barometer I think is a little scary"

[Behappyalways]

This is what Jim Chanos says he’s telling his clients about China right now


http://www.businessinsider.sg/jim-chanos...0QKFsLVzIU

[TTTI]

This is what Jim Chanos says he’s telling his clients about China right now


http://www.businessinsider.sg/jim-chanos...0QKFsLVzIU

Whilst I too think that China is currently a ticking time bomb, I gotta say that Jim Chanos track record over the long term is actually quite terrible.
Shows how difficult it is to be a perma short.
One has to get both the thesis right, AND the timing right.

[weijian]

A look at his 1985-2005 (20years) show his fund's CAGR of 2.1% vs S&P500 of 12.7%. It is indeed not easy to be a perma short, since markets rise with GDP (and the world progressing) over the long term.

Interesting, JC's annual returns are highly negatively correlated to the S&P500. It falls along his proposal that his fund is for those who wishes to buy insurance in a bull market. One could consider it a hedge. It might be more profitable investing in his fund than spending some of those on put options instead?

http://www.valuewalk.com/wp-content/uplo...mance1.pdf

Nonetheless, it is indeed lonely to be a perma short. Their make-up is interesting for value investors. While I don't short (and don't see myself doing that in future, for now), I think Jim Chanos's stuff is a treasure cove for me to learn.

[TTTI]

A look at his 1985-2005 (20years) show his fund's CAGR of 2.1% vs S&P500 of 12.7%. It is indeed not easy to be a perma short, since markets rise with GDP (and the world progressing) over the long term.

Interesting, JC's annual returns are highly negatively correlated to the S&P500. It falls along his proposal that his fund is for those who wishes to buy insurance in a bull market. One could consider it a hedge. It might be more profitable investing in his fund than spending some of those on put options instead?

http://www.valuewalk.com/wp-content/uplo...mance1.pdf

Nonetheless, it is indeed lonely to be a perma short. Their make-up is interesting for value investors. While I don't short (and don't see myself doing that in future, for now), I think Jim Chanos's stuff is a treasure cove for me to learn.

Thank you for the link.

I do occasionally short, mainly by buying put options. 
I think hedging by buying put options would be much better than investing in his fund for the simple reason that you can control what you're shorting, or if you wish to, you can just simply short the S&P500, whereas you cant control what JC shorts.
He has had more misses than hits generally, but is famed and highly sought after for his opinions after a few high profile shorts turned out well.
On top of that, if you add in the fees and other costs, it's clear that buying your own options would be a better option.

[weijian]

Jim Chanos: U.S. Economy is Worse Than You Think

The famed short-seller offers a mid-2017 reality check for “fake fiscal news,” and economic pipe dreams, and sees “portents of even worse things”

https://www.ineteconomics.org/perspectiv...-you-think

[Behappyalways]

Jim Chanos on the return of choppy markets, Tesla, and the 'rent-seeking behavior' that's hurting our economy
http://www.businessinsider.com/jim-chano...18-2/?IR=T