Short-seller Jim Chanos warned of a US debt default black swan, slammed Tesla's rally and said bulls have dreamed up a 'nirvana' outlook in a recent interview. Here are his 11 best quotes.
The legendary short-seller also shared his thoughts on meme stocks' resurgence, bulls' faith that the Federal Reserve will start cutting interest rates soon, and Hindenburg Research's report allegingHere are the 11 best quotes from Chanos' interview from Miami, which have been lightly edited for clarity."A war in the Pacific is serious stuff. Let's not forget we have a war in Europe going on right now… tanks, artillery, things we haven't really seen in our lifetimes.
"I've been watching the China reopening trade like everyone else has for the last six or nine months and marveling at it but I don't think there's any way to handicap [a war between China and the west] as a hedge fund manager. Again, if it happens, the unintended consequences would be severe." "We're far more intertwined into the Asian economies, in particular China. Anything that would end that and bring us into a Cold War, much less a shooting war, has to be a major, major event for not only markets but geopolitics. It's scary stuff."4."We don't try to time the market but like anybody else I have opinions and things are not cheap."
5."Corporate profits are going to be up 12% this year, inflation's coming down to 2%, the Fed may be easing at the end of the year. That's pretty much nirvana if you're a bull. People are pricing in a pretty nice Goldilocks scenario."6."That would be kind of another black swan that nobody thinks will happen, including me. When push comes to shove, I think we're going to the interest on our debt, but who knows – I could be wrong."7.
is. OK, but that just shows you that the auto business is a tough business. If you've got to cut prices or raise prices for ebbing supply in demand, you're in a cyclical business."
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