Re:Short Selling Is Tough Business
by JumpCrisscross on Wednesday September 19, 2018 @12:10AM
(#18021604)
> The hedge fund? Wrong. I have those returns too.
Chanos has multiple funds. Some of them are designed as catastrophic hedges, and work accordingly. His other funds are intercyclically up, doing better in the crisis and early recovery phases and less well in late recovery. If you’re seeing different numbers, you’re being fed garbage.
It is insane to me. We detest more than anything the notion of the high fee hedge fund manager who gets rich while his clients lose money, but the world gives Chanos the biggest pass of all time. This is a guy who has made something like $1 billion pre-tax and pre-divorce while his fund has just lost copious amounts of money over any relevant time frame.