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.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.