Uncle Jim Chanos' Bad Year (Kynikos Associates)

[valuesource]

http://www.finalternatives.com/node/26088

 

Chanos reported results last week of -14%.  2012 was -1%.  It bears mentioning that Kynikos is a short-biased fund.  If I remember accurately, Sanj posted 10 yr results for Kynikos many moons ago.  They were poor.

 

Many of you will recall Jim Chanos from the Fairfax saga of 2003-2006.  Several emails emerged as part of discovery in Fairfax's ongoing suit vs. a bevy of hedge funds.  Chanos forwarded an email from Mark Heiman, an analyst at his firm, to a contact at SAC Capital.  The email contained information on a negative research report which John Gwynn, an analyst at Memphis-based broker Morgan Keegan, intended to publish.  Gwynn was subsequently fired and promptly died of a heart attack.  Chanos is still chasing young girls around his pool in the Hamptons.

 

Lest we forget...

 

-value