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2014-09-28

Jim Chanos on Investing: "True Alpha Is Hard To Come By"




"The Market Will Not Always See What You See"

Noise is "the cacophony of negative reinforcement"

Even domain name investors can pick up something from this Barry Ritholtz interview of James Chanos, the hedge fund manager of Kynikos Associates. They discuss portfolio management, short selling, psychology and behavioral finance, government reform, China and more. Masters In Business airs on Bloomberg Radio.

Business Insider India: "Jim Chanos is a Wall Street stalwart, and founded his short-only firm Kynikos (Greek for 'cynic') back in 1980s. One of his more famous moves was shorting Enron, several months before its bankruptcy. He's recently been arguing that China's economy is overheated "due to its dependence on property development for growth." And on May 15, Chanos told CNBC that he would "no longer be long on the Macau casino." Macau happens to be the only place in China where casinos are legal, and revenues have been down in June (by 3.7%), July (by 3.6%), and August (a far worse 6%)"