Jim Chanos: Difference between revisions
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===China collapse=== |
===China collapse=== |
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Chanos is a long-time skeptic of the future of the Chinese economy, becoming bearish after starting to study China in earnest in the summer of 2009.<ref name=times>{{cite news|title=Contrarian Investor Sees Economic Crash in China |url=https://www.nytimes.com/2010/01/08/business/global/08chanos.html | work=The New York Times | first=David | last=Barboza | date=January 8, 2010 | accessdate=May 5, 2010}}</ref> In September 2009 he began going public with his pessimism about China, telling [[CNBC]] that the Chinese miracle economy was "getting harder and harder to believe", predicting the country would head the way of the "old [[Soviet Union]]".<ref name="timemag">{{cite news|last1=Bacani|first1=Cesar|title=China's Economic Recovery: Miracle or Mirage?|url=http://content.time.com/time/world/article/0,8599,1939598,00.html|work=Time|date=November 16, 2009}}</ref> In January 2010, the ''New York Times'' in an article featured the prediction by Chanos of an impending Chinese economic crash that would resemble “Dubai times 1,000 — or worse”. He would later go on the [[Charlie Rose Show]] in April 2010 to elaborate on his prediction, maintaining that China was on a "treadmill to hell" ending in a crash caused by a "world class" property bubble.<ref>{{cite web|title=James Chanos interviewed by Charlie Rose |url=http://www.charlierose.com/view/interview/10960}}</ref> |
Chanos is a long-time skeptic of the future of the Chinese economy, becoming bearish after starting to study China in earnest in the summer of 2009.<ref name=times>{{cite news|title=Contrarian Investor Sees Economic Crash in China |url=https://www.nytimes.com/2010/01/08/business/global/08chanos.html | work=The New York Times | first=David | last=Barboza | date=January 8, 2010 | accessdate=May 5, 2010}}</ref> In September 2009 he began going public with his pessimism about China, telling [[CNBC]] that the Chinese miracle economy was "getting harder and harder to believe", predicting the country would head the way of the "old [[Soviet Union]]".<ref name="timemag">{{cite news|last1=Bacani|first1=Cesar|title=China's Economic Recovery: Miracle or Mirage?|url=http://content.time.com/time/world/article/0,8599,1939598,00.html|work=Time|date=November 16, 2009}}</ref> In January 2010, the ''New York Times'' in an article featured the prediction by Chanos of an impending Chinese economic crash that would resemble “Dubai times 1,000 — or worse”. He would later go on the [[Charlie Rose Show]] in April 2010 to elaborate on his prediction, maintaining that China was on a "treadmill to hell" ending in a crash caused by a "world class" property bubble.<ref>{{cite web |title=James Chanos interviewed by Charlie Rose |url=http://www.charlierose.com/view/interview/10960 |deadurl=yes |archiveurl=https://web.archive.org/web/20100415055748/http://www.charlierose.com/view/interview/10960 |archivedate=2010-04-15 |df= }}</ref> |
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==Previous jobs== |
==Previous jobs== |
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==External links== |
==External links== |
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*[https://www.sec.gov/spotlight/hedgefunds/hedge-chanos.htm Chanos' statement to the SEC regarding hedge funds] |
*[https://www.sec.gov/spotlight/hedgefunds/hedge-chanos.htm Chanos' statement to the SEC regarding hedge funds] |
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*[http://www.ridgewoodgrp.com/James%20S%20Chanos%20of%20Kynikos%20Associates.PDF Remarks by Chanos to US House (2002)] |
*[https://web.archive.org/web/20090106123325/http://www.ridgewoodgrp.com/James%20S%20Chanos%20of%20Kynikos%20Associates.PDF Remarks by Chanos to US House (2002)] |
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*[https://www.wsj.com/articles/SB122204250955761325 Chanos' Wall Street Journal article on the financial crisis and short selling] |
*[https://www.wsj.com/articles/SB122204250955761325 Chanos' Wall Street Journal article on the financial crisis and short selling] |
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*{{IMDb name|1928459|James Chanos}} |
*{{IMDb name|1928459|James Chanos}} |
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*[http://www.charlierose.com/view/interview/10960 Charlie Rose Interview (flash video)]. April 12, 2010. About the [[Chinese property bubble|China housing bubble]] |
*[https://web.archive.org/web/20100415055748/http://www.charlierose.com/view/interview/10960 Charlie Rose Interview (flash video)]. April 12, 2010. About the [[Chinese property bubble|China housing bubble]] |
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{{DEFAULTSORT:Chanos, James}} |
{{DEFAULTSORT:Chanos, James}} |
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Revision as of 16:01, 20 November 2017
James Chanos | |
|---|---|
| Born | December 24, 1957 Milwaukee |
| Nationality | American |
| Occupation | Investor |
| Known for | Short selling |
| Notable work | Founder of Kynikos Associates, LP |
James S. "Jim" Chanos[1] (born December 24, 1957) is an American investment manager and currently serves as president and founder of Kynikos Associates, a New York City registered investment advisor who is focused on short selling.
Early life and education
James Steven Chanos was born in 1957 into a Greek immigrant family living in Milwaukee that operated a chain of dry-cleaning shops.[2] He graduated from Wylie E. Groves High School, and received a B.A. in Economics and Political Science from Yale University in 1980.[3][4]
Career
He describes his investment strategy as being based on "intensive research into stocks"[5] looking for fundamental and large market failures in valuation, typically based on underestimated or previously unreported failings in the business or market of a stock. He follows this research by committing to a (usually large) short-position which he is willing to hold for long period of time—almost the mirror image of Warren Buffett's reputed "fundamentals+long stay" investment strategy.[6] Because of this model, his investments function more like those of a whistle-blower than most typical investments. Examples of this include short-selling companies such as Baldwin-United, and more recently Enron Corporation.[7]
He began his career in the 1980s as a short seller. After working as an analyst in several firms, he founded Kynikos (Greek for "cynic") in 1985 with $16 million,[8] as a firm specializing in short selling. A critical position taken at Kynikos was his shorting of Enron.[9]
Notable predictions
Enron collapse
Chanos was a short seller of Enron throughout 2001, increasing his short position as more information surfaced. Kynikos profited from the trade. [10] He gained notability as a short seller when he predicted the fall of Enron Corp. before it filed for bankruptcy in 2001.[8]
China collapse
Chanos is a long-time skeptic of the future of the Chinese economy, becoming bearish after starting to study China in earnest in the summer of 2009.[11] In September 2009 he began going public with his pessimism about China, telling CNBC that the Chinese miracle economy was "getting harder and harder to believe", predicting the country would head the way of the "old Soviet Union".[12] In January 2010, the New York Times in an article featured the prediction by Chanos of an impending Chinese economic crash that would resemble “Dubai times 1,000 — or worse”. He would later go on the Charlie Rose Show in April 2010 to elaborate on his prediction, maintaining that China was on a "treadmill to hell" ending in a crash caused by a "world class" property bubble.[13]
Previous jobs
- Analyst with Blyth Eastman Webber.[14]
- Analyst with Gilford Securities - where he exposed Baldwin-United, which filed for bankruptcy thereafter.[7]
- Analyst and Vice President at Deutsche Bank Capital Corp.[7]
- Founder and President of Kynikos Associates Ltd (current).[15]
References
- ^ Porzecanski, Katia (13 October 2017). "Jim Chanos's Short Hedge Funds Have Fallen This Year". Bloomberg.
- ^ "Jim Chanos Resource Page". ValueWalk. Retrieved 10 November 2016.
- ^ "James Chanos Lecturer in the Practice of Finance". Yale School of Management. Retrieved 10 November 2016.
- ^ "James Steven Chanos: Executive Profile & Biography - Bloomberg". www.bloomberg.com. Retrieved 2017-07-17.
- ^ Leder, Michelle (2003). Financial fine print: uncovering a company's true value. John Wiley and Sons. p. 35. ISBN 0-471-43347-0. ISBN 9780471433477.
- ^ "The man who got China right".
- ^ a b c Sherman, Gabriel (December 15, 2008). "The Catastrophe Capitalist". New York Magazine. Retrieved September 24, 2011.
- ^ a b Chung, Juliet (16 September 2015). "China Bear James Chanos Roars After Years of Losses". Wall Street Journal. Retrieved 10 November 2016.
- ^ James Chanos (2002). Anyone could have seen Enron coming: Prepared witness testimony given Feb. 6, 2002 to the House Committee on Energy and Commerce. [1].
- ^ Petruno, Tom (20 January 2002). "nts MARKET BEAT 'Short-Sellers' in Enron Finally Get Their Due". Los Angeles Times. Retrieved 17 July 2017.
- ^ Barboza, David (January 8, 2010). "Contrarian Investor Sees Economic Crash in China". The New York Times. Retrieved May 5, 2010.
- ^ Bacani, Cesar (November 16, 2009). "China's Economic Recovery: Miracle or Mirage?". Time.
- ^ "James Chanos interviewed by Charlie Rose". Archived from the original on 2010-04-15.
{{cite web}}: Unknown parameter|deadurl=ignored (|url-status=suggested) (help) - ^ Mahar, Maggie (2004). Bull!: A History of the Boom and Bust, 1982-2004. HarperCollins. p. 56. Retrieved September 24, 2011.
- ^ Gammeltoft, Nikolaj; Kisling, Whitney (May 24, 2011). "Chanos Misses Out as Chinese Stocks in U.S. Plunge on Accounting Concerns". Bloomberg. Retrieved September 24, 2011.