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Hidden Forces
The Long (and Short) of it: A Cynic’s Take on Markets & Investing | Jim Chanos
Nov 19, 2020
In a thought-provoking discussion, Jim Chanos, founder of Kynikos Associates and a renowned short-seller, shares his insights on the art of short selling and the psychology behind it. He critiques corporate fraud and the complexities of market valuations, particularly in light of government influences. The conversation dives into the financial realities of companies like Tesla and Uber, contrasting public perception with actual performance. Chanos also explores the evolving landscape of electric vehicle competition and the challenges of misinformation in today's markets.
56:06
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Quick takeaways
- Short selling necessitates a profound comprehension of market psychology and requires resilience against prevailing bullish narratives.
- The decline in white-collar crime prosecutions raises serious concerns about corporate accountability and the effectiveness of regulatory oversight.
Deep dives
The Landscape of Corporate Fraud Prosecutions
Despite high-profile financial disasters over the years, there has been a concerning decline in white-collar crime prosecutions in the U.S. This raises important questions about whether executives have genuinely become more law-abiding or if prosecutors are hesitant to pursue charges due to potential losses in litigation. Regulatory capture and a revolving door between corporate America and government are also suspected factors that discourage robust investigations into corporate wrongdoing. Consequently, this has opened the door to an environment where companies often face fines as merely a cost of doing business, thus undermining accountability.
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Discover
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