Watch CNBC's full interview with legendary short seller Jim Chanos

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A good watch

Watch CNBC's full interview with legendary short seller Jim Chanos
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The inevitable has arrived for Chanos. In the boom times before dotcom bust and GFC, there were lots of frauds and overvaluations and it was easy to profit from them. To note, S&P500 went nowhere in that decade.

The bull market of the last decade has created enormous head winds against an exclusively short fund. It is probably easier for a long-short guy like John Hempton of Bronte Capital.

And finally, shorting a company (eg. Tesla) based on overvaluation is really risky in a bull market. And there you have it, the obituary from CNBC on Chanos is what has happened almost 30years ago.

Jim Chanos, the short seller who called Enron’s fall, is converting hedge fund to a family office

Assets managed by Chanos & Co. have come down significantly, declining to a level below $200 million, compared to $6 billion in 2008, according to The Wall Street Journal, which first reported on the short seller’s move.

As recently as January of this year, he also had short bets on Tesla, pointing to rising competition in the electric vehicle market. At the time, he noted that China is the weakest market for the EV maker.

“You have repatriation of capital risk. You have [Chinese automaker] BYD and others just taking massive market share,” Chanos said. “Tesla trades at a premium to those companies who are growing faster than they are in China. So if you want to play all these things, there are now lots of ways to do it.”

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