2015-05-26

Investing, Trading Against Machines, Jim Chanos Shorts China (video)

Kudos to Anthony Scaramucci and SkyBridge Media LLC, an affiliate of SkyBridge Capital, for acquiring rights to use the domain name wallstreetweek.com and reinventing the iconic program originally hosted by Louis Rukeyser. The program airs on Fox stations in New York, Washington, D.C., Chicago and San Francisco, and streams online at the website and on youtube.com. The legendary James Chanos of Kynikos (Greek for "cynic") Associates LP, and trader Lawrence Altman were featured on the latest episode--and they had a lot to say which may be relevant to all kinds of investors, covering many diverse topics, including China, the art market, energy stocks, the 2010 flash crash and trading against machines (HFT)--enjoy!


Wall Street Week published May 24, 2015: Short seller Jim Chanos of Kynikos Associates and trader Lawrence Altman of CBD interviewed by hosts Anthony Scaramucci and Gary Kaminsky. (Program length 28:30)

Another 3 or 4 years, China will look like Greece?

Of China's increasing debt and its threat, Jim Chanos said, "Chinese banking system is bloated and it’s basically taking out more and more leverage. That same ratio is now 300 percent. So, in five years they have more than doubled their debt-to-GDP and I joke to my Chinese friends, but somewhat half seriously, another three or four years they are going to be like my homeland Greece. They are going to be at 400 percent.”

“So, here is, here is the problem and the problem is the credit story,” Chanos said. “And the Shanghai stock market, by the way is a very bad barometer. We are not short Shanghai. We have never been short or long the the Asia market. When I started looking at China, it was 3,500, it went to 1,900 and now it’s 4,300 and when it was at 1,900 nobody told me, 'oh this means this is the end of China.' It was just the Shanghai stock market, its retail market. Now that it’s at 4,300. Everybody is coming out of the woodwork to say China is turning, it’s not.”

Domain Mondo
comment and analysis: As Chanos noted in the program, short sellers are cynics and keep the system honest. Based on his assessment of China and the art market, Domain Mondo expects domain name values--particularly .COM domain names-- to continue rising consistent with overall market trends (note his comments about the Shanghai market) and wealthy Chinese buyers' preference for dot COM domains--the global online standard. See The Bull Market in dot COM Domain Names.[Note disclaimer at foot of webpage and here.]

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