Summary List Placement
Leading short-seller Jim Chanos issued warnings about day trading, corporate fraud, and both ride-hailing and food-delivery companies in a RealVision interview this week.
The president of Kynikos Associates, who successfully shorted Enron nearly 20 years ago, also discussed Wirecard and IBM.
Scroll down to read his 12 best quotes from the interview.
Visit Business Insider’s homepage for more stories.
Veteran short-seller Jim Chanos sounded the alarm on day trading, fraud, and gig-economy companies in a RealVision interview published this week and filmed on November 11.
The president of Kynikos Associates — who famously shorted Enron before it filed for bankruptcy in 2001 — also discussed IBM, Wirecard, and heady market valuations.
Here are Chanos’ 12 best quotes from the interview, condensed and lightly edited for clarity:
1. “They are going to trade themselves into oblivion” — on the risks to day traders of placing leveraged bets and mindlessly speculating.
2. “We are at prices now where the crowd that is betting on margin and betting through options had better be right. Anything that corrects and reverts to the mean, or to real valuation metrics, is going to destroy a whole generation of investors.”
3. “Valuations are set up to basically have no margin of …read more
Source:: Businessinsider – Finance