Jim Chanos to Close Hedge Funds After Nearly Four Decades

Jim Chanos to Close Hedge Funds After Nearly Four Decades

ByAudInsights.blog

Farewell to Kynikos Associates

Legendary short-seller Jim Chanos, known for his successful bets against Enron and Tesla, is calling it quits after nearly four decades in the business. His hedge fund, Chanos & Co., which was founded as Kynikos Associates in 1985, will be closing its doors and returning capital to investors by the end of the year. This move comes as the long/short equity business model faces pressure and interest in fundamental stock pickers declines.

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A New Chapter

In a letter to clients, Chanos expressed his passion for research and investing but stated that he feels the need to pursue these passions in a different way. Having already returned nearly $5 billion of profits to investors since the firm’s inception, he believes it is time for a change.

Chanos will continue to provide investors with customized advice on fundamental short ideas, portfolios, and profitable macro insights. Although his hedge funds are closing, his expertise and knowledge will still be available to those seeking guidance.

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Source: Short-seller Jim Chanos, who cashed in by betting on Enron’s infamous collapse, to close his hedge funds after 38 years

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