Short selling is, in effect indebtedness. If you about it, it's a liability on your balance sheet. Unlike the long side, where the asset moves up and down in price every day depending on the market. And short selling, its your liability that moves up anddown. So we're celebrating our 30 fifth anniversary. That's really phenomenal. And a lot of pain, i bet. I think we see so many who just can't deal with popularity has a price. Even in the dinantial mary, it definitely does.So 35 years now, but are you primarily short? The vast majority of our assets are run either hedge, or were compensated as if we were
Our guest this week is renowned short-seller Jim Chanos, founder, and president of Kynikos Associates. Over the course of his long and successful career, Jim has publicly bet against companies like Enron, which Barron’s deemed the “market call of the decade, if not the past 50 years.” While many know him for these famous shorts, fewer know that Jim is also a passionate historian, and is a firm believer in the notion that history can act as a useful guide for investors today. In this wide-ranging conversation, we discuss:
- How Jim started his career in finance
- The Mississippi Bubble
- How past financial frauds and manias can be useful for modern investors
- Tesla
- Lessons from the Great Financial Crisis
- Jim’s financial history course at Yale and Wisconsin
- Theranos
And much, much more… we hope you enjoy.