Hedge fund manager Jim Chanos sees ‘synchronized bull market’ in stocks around the world; saying Trump responsible a ‘stretch’

Investing


Giving President Donald Trump credit for the strength of the U.S. stock market is a “stretch,” hedge fund manager Jim Chanos said Tuesday.

Global equities are experiencing a “synchronized bull market,” fueled by years of the easy money policies of world central banks, Chanos said on CNBC’s “Fast Money Halftime Report.”

“There’s the general view that what’s worked will continue to work,” he said at the CNBC-Institutional Investor Delivering Alpha conference in New York. “To put it either pro or con on the basis of President Trump’s policies is at this point a stretch.”

To make his case, Chanos asked: Is Trump responsible for rallies in markets such as Mexico, too? Chanos has been critical of Trump in the past.

Chanos’ Kynikos Associates is one of the largest short selling investment firms in the world.

Short selling is a form of trading in which traders can bet against a company by selling shares they don’t own and buying them back at a lower price.

The bull market has been creating great opportunities for betting against companies, but the up-trend has made it tough, said Chanos, whose shorts include Tesla.

He said he’s “passively” long the stock market and “short” individual ideas.

Chanos gained recognition for raising red flags with a prescient negative call on once high-flying Enron before the energy firm blew up in scandal.



Source link

Products You May Like

Articles You May Like

Here are the states where retirement savers have the biggest nest eggs
Wells Fargo (WFC) earnings Q1 2021
Advisors are changing how they interact with clients due to pandemic
Nvidia stock rises as it sees better-than-expected first quarter
Bed Bath & Beyond shares fall as store closures weigh on results

Leave a Reply

Your email address will not be published. Required fields are marked *