Author

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 the realm of behavioral finance.

From James Chanos

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 a free and clear open checkbook. It's not. The banking system in China is extremely fragile.

From James Chanos

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 terms of the general complacency, what we heard over and over from investors and clients and potential clients is, 'yes, yes, there are some excesses, but the government will figure out a way.'

From James Chanos

It's very difficult in the technology space when you have been leapfrogged to prosper again.

From James Chanos

The investment we're all looking for is actually saving labor... Look at what the internet is doing to retail.

From James Chanos

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 other financial instrument, if done properly.

From James Chanos

People who lose money always need someone to blame.

From James Chanos

The marginal people on the trading desks, there's no skill set. If they don't trade derivatives, I don't know what they can do. The next stop is driving a cab.

From James Chanos

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 my bones that short-selling plays the role of real-time financial watchdog. It's one of the few checks and balances in the market.

From James Chanos

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 property, office building, condo - does not cover the debt incurred to buy the asset. So you depend on a greater fool, if you will, to come in and buy at a higher price.

From James Chanos

James Chanos

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