Tuesday, October 11, 2011

Jim Chanos on China (Bloomberg)

Jim Chanos talks to Bloomberg at the Global Alternative Investment Conference in New York

Chanos talks about China's SWF to buy shares in Chinese banks; He also sees the property market continuing to deteriorate. He remains short the European banks.

Some quotes:

  • "Two months ago people thought there was nothing wrong with Chinese banks. This shows how quickly things have deteriorated"
  • "The property market is in the first innings of a pullback"
  • "Europe is following the same model as 2008 but without the capital raising"

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