Jim Chanos Recommends Shorting Sotheby's

Famed short-seller Jim Chanos, the founder of Kynikos Associates, recommended shorting Sotheby’s on CNBC’s “Squawk Box” this morning.

He also shared this chart about how the auction house’s stock price tracks bubbles:

Activist investors Daniel Loeb (Third Point) and Mick McGuire (Marcato) are long the stock and hold massive positions.

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