“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 the numbers, you’re valuing the businesses, you’re assigning a consolidated value, and hopefully you’re seeing something the market doesn’t see.But now I’ve learned that 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.” ThinkingShouldLongBigsUsedValuesFallDifferencesNumbersSeeingSkillsFocusedPsychologicalFinanceHopefullyRealmsI've LearnedInvestorsSellers Author:James Chanos
“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.” ThinkingLongBigsValuesFallDifferencesFocusedPsychologicalFinanceRealmsI've LearnedInvestorsSellers Author: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.” PeopleThinkingSeemsRealizingClearOne ThingBuiltChinaChineseFragileBankingBanking SystemQuicksand Author:James Chanos
“The interesting thing about the China story, getting back to the macro and micro, and as dire as I think the macro story is - due to bad credit and credit extension that makes Greece and Spain and the U.S. look like child's play - when you get to the micro of individual companies, they look even worse.” ThinkingLooksChildrenPlayStoriesIndividualInterestingCompanyChinaCreditDuesExtensionsSpainGreeceInteresting ThingsMacro Author:James Chanos
