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Quote by James Chanos

“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. The growth continues and they have basically western managers and western accounting, so we trust the numbers a little bit more.”

Quote by James Chanos

Author

James Chanos, born in 1958, is an accomplished manager with extensive experience in the financial sector. He is renowned for his keen market insights and unique investment strategies. more

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“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, long time.”

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“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, and where we know that the game is not rigged.”

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“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 - they just exchanged their bad loans for questionable bonds from quasi-state organizations.”

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“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.”

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“When a man forgets himself, he usually does something everybody else remembers.”

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“Children from a given family background, when put in schools of different social compositions, will achieve at quite different levels.”

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“I'd propose that each central-city child should have an entitlement from the state to attend any school in the metropolitan area outside his own district - with per pupil funds going with him.”

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“In a high school, the norms act to hold down the achievements of those who are above average, so that the school's demands will be at a level easily maintained by the majority.”

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“It is clear from all these data that the interests of teenagers are not focused around studies, and that scholastic achievement is at most of minor importance in giving status or prestige to an adolescent in the eyes of other adolescents.”

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