A new Jim Chanos short has been revealed in the latest edition of Grant’s Interest Rate Observer.
In a presentation this month to Grant’s Spring Conference, a private investment forum, Mr Chanos, the boss of Kynikos Associates, told investors he feared iron ore miner Fortescue has ”a somewhat promotional management team”.
He singled out the company as the global example of a ”value trap” in the ”iron ore rush”, adding that he is betting against the company.
”In our hedge fund, we are long BHP vs Fortescue and others,” Mr Chanos said, according to an account of his presentation in Grant’s Interest Rate Observer, the publication of the conference organisers.
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