In his latest interview with Hedgeye Investing Summit, renowned short seller Jim Chanos discusses why the world of short selling has gotten sillier and sillier saying:
Chanos: For a lot of us short-sellers in the last 10 years, exhaustion is setting in. Things have gotten, in our corner of the world, sillier and sillier. What we’re seeing now is really the advent of all kinds of questionable business models being promoted and going public.
It’s not about Apple. It’s about space travel. It’s a big difference in terms of the speculative environment a few years ago versus today. You have a much more speculative element in the markets since late last year. You saw retail participation spike late last year, pre-COVID and it’s continued right on through this year.
It’s made this year so fantastic. The swings in the marketplace and valuations on really questionable business, things you or I would laugh about 10 years ago. I think about 1999 and 2000. They’re not only doing it again, they’re doing it in magnitudes of greater amounts.
You can watch the entire interview here:
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