Jim Chanos is at Ira Sohn right now.He’s not talking about his China short… he’s talking about JAPAN and alternative energy.
On alt energy, he said (via our own Katya Wachtel) : “I don’t want to piss off any more countries with 1 billion ppl so today we’ll upset the greenies… A lot less of them.”
The title of his presentation is “Does solar and wind = hot air?”
Per Josh Brown, he’s making some key points about the inefficiency of it all. Wind is 50% more expensive than natural gas. Solar is 4x as expensive.
He’s short Danish windpower company Vestas (via DDInvesting).
On Vestas — he sees evidence of pulling revenue ahead — as well as stiff competition in both the US and China.
Meanwhile, he says it’s SOLAR that he’s most excited about shorting. He sees evidence of waning demand in a market that’s already high dependent on subsidies by countries in bad fiscal shape, like Spain and Italy.
The one name he hates: First Solar due to questionable tech, and a deteriorating edge.
There’s also been a big management exodus.