12 James Chanos Quotes for You to Enjoy

James Chanos

American Businessman

Born: 1957

About Bad China Money People You

Related authors: Bill Gates Henry Ford Jim Rohn Les Brown Peter Drucker Stephen Covey Steve Jobs Warren Buffett

Derivatives in and of themselves are not evil. There's nothing evil about how they're traded, how they're accounted for, and how they're financed, like any other financial instrument, if done properly. James Chanos

Financial Evil Nothing Other Financed About Properly Like Instrument How Traded Any Done Themselves Derivatives

Our concerns about what we saw in Australia: an economy clearly tied to China has hitched its wagon to the tail of the tiger. In terms of the general complacency, what we heard over and over from investors and clients and potential clients is, 'yes, yes, there are some excesses, but the government will figure out a way.' James Chanos

Government Will Complacency Our Saw Way Out Some About General Potential Tail Excess Investors Clearly Over Economy Terms Concerns Tied Tiger Clients Wagon Heard Yes Australia Hitched China Figure

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. James Chanos

People Those Out Bad Bubbles Never Over Were Questionable Just Banks China Realize Organizations Credit Last Two Bonds Loans

If you're a short-seller, that's a cacophony of negative reinforcement. You're basically told that you're wrong in every way imaginable every day. It takes a certain type of individual to drown that noise and negative reinforcement out and to remind oneself that their work is accurate and what they're hearing is not. James Chanos

The investment we're all looking for is actually saving labor... Look at what the internet is doing to retail. James Chanos

Internet Looking Saving Retail Investment Look Doing Labor Actually

And so it can be very much in the interest of bank A to sell-short bank B shares, or buy CDSes on bank B, because they have exposure to bank B. It's the responsible thing to do as a fiduciary, and yet if everyone does it at the same time, it's destabilizing because everyone is selling. James Chanos

Buy Time Everyone Responsible Shares Because Does Selling Very Same Bank Same Time Interest Much Exposure Thing

It's almost sickening now that the regulators 'on the beat' while the biggest credit collapse in modern financial history unfolded are now patting themselves on the back for their 'brave' stance on short-selling! James Chanos

History Financial Sickening Back Collapse Beat Almost Brave Modern Biggest While Themselves Stance Now Credit

I'll always understand the Schadenfreude aspect to short-selling. I get that no one will always like it. I'm also convinced to the deepest part of my bones that short-selling plays the role of real-time financial watchdog. It's one of the few checks and balances in the market. James Chanos

Increasingly, the real estate developers can't get bank loans for their project financing in China. They're now going into the Hong Kong market to raise money in the bond market at very, very high rates, as high as 15, 20 percent. James Chanos

Money Real Estate Increasingly Hong Kong Market Project High Financing Percent Rates Developers Kong Real Very Get Going Bank Estate China Now Bond Raise Loans

While short sellers probably will never be popular on Wall Street, they often are the ones wearing the white hats when it comes to looking for and identifying the bad guys! James Chanos

Will Looking White Bad Wearing Hats Bad Guys Guys Never Identifying Sellers Wall Wall Street Often Short While Popular Street

In China, remember, the the banks are arms of state policy. They loan because the local party official or regional party official tells them we need a new stadium. They are instruments of state policy. James Chanos

Remember Loan Party State Local Tells New Arms Instruments Policy Because Official Stadium Banks China Regional Them Need

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