James Chanos

All James Chanos Quotes

• Bubbles are best identified by credit excesses, not valuation excesses. And there's no bigger credit excess than in China. Best
• I used to think that good short-sellers could be trained like long-focused value investors because it should be the same skill set; you’re tearing into… Assigning
• I've learned there's a big difference between a long-focused value investor and a good short-seller. That difference is psychological and I think it falls into… Behavioral
• People who lose money always need someone to blame. Always Need
• It's very difficult in the technology space when you have been leapfrogged to prosper again. Been
• And so it can be very much in the interest of bank A to sell-short bank B shares, or buy CDSes on bank B, because… Bank
• Derivatives in and of themselves are not evil. There's nothing evil about how they're traded, how they're accounted for, and how they're financed, like any… Accounted
• Dubai was a property bubble. Plain and simple. Go to Dubai and see what happened. It was... what I call it the 'Edifice complex' -… Attract
• Healthcare is growing now at about 10 per cent per annum in the U.S. top line, versus 3 per cent for the economy. As someone… Annum
• I'll always understand the Schadenfreude aspect to short-selling. I get that no one will always like it. I'm also convinced to the deepest part of… Always Like
• If you're a short-seller, that's a cacophony of negative reinforcement. You're basically told that you're wrong in every way imaginable every day. It takes a… Accurate
• In China, remember, the the banks are arms of state policy. They loan because the local party official or regional party official tells them we… Arms
• Increasingly, the real estate developers can't get bank loans for their project financing in China. They're now going into the Hong Kong market to raise… Bank
• Our concerns about what we saw in Australia: an economy clearly tied to China has hitched its wagon to the tail of the tiger. In… Australia
• So you know, everyone points out Greece's default record, but the history of a lot of sovereign nations is not a good one when it… Default
• The Chinese banking system is built on quicksand and that's the one thing a lot of people don't realize. Everybody seems to think it is… Banking
• The interesting thing about the China story, getting back to the macro and micro, and as dire as I think the macro story is -… Bad
• The Macau casinos have a wonderful business, it's taking in money from Chinese businessmen elsewhere who send it through junky companies to casinos to gamble.… Accounting
• The U.S. healthcare system is probably the most interesting large group of companies that are heading for major problems that we've seen in a long,… Companies
• What American people and what the markets want is a fair and level playing-field, where the rules are clearly elucidated, where the referees are competent,… American
• What people don't realize is that China papered over its last two credit bubbles, those in 1999 and 2004. The banks were never bailed out… Bad
• What we define as a bubble is any kind of debt-fueled asset inflation where the cash flow generated by the asset itself - a rental… Any
• While short sellers probably will never be popular on Wall Street, they often are the ones wearing the white hats when it comes to looking… Bad

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