Jim Chanos, who oversees about $6 billion as the founder and president at Kynikos Associates Ltd., is finding companies to bet against as the U.S. stock market heads for the biggest rally in three years.
Jim Chanos, who oversees $6 billion at Kynikos Associates Ltd., said he’s betting against Brazil’s Petroleo Brazileiro SA and Vale SA, adding that investors buying the stocks risk subsidizing failed government policies.
Michael Novogratz of Fortress Investment Group LLC said the euro will decline this year, and Litespeed Management LLC’s Jamie Zimmerman and Kynikos Associates Ltd.’s Jim Chanos said Greece will exit the currency.
As Dell Inc.’s minority shareholders gain momentum in their push for a sweeter takeover price, Michael Dell could boost the offer to $15 a share and still pay the cheapest multiple among large technology buyouts.
Jim Chanos, founder of New York- based hedge fund Kynikos Associates, said he kept his bearish bets on European bank stocks after regulators banned new short sales for some financial companies in August.
The biggest monthly surge in Chinese banks since January isn’t enough to stop Jim Chanos from shorting the financial shares as the portfolio manager wagers the country faces a credit crisis as bad loans increase.
Jim Chanos, founder of $6 billion hedge fund Kynikos Associates, and billionaire bond-fund manager Bill Gross said they understand the anger directed at financial companies as anti-Wall Street protests spread to Manhattan’s Upper East Side, home of some of the country’s top executives.