y******i
发帖数: 2584 | 1 Chanos Says Petrobras, Vale Are Two of His Favorite Shorts
By Jesse Westbrook - Nov 19, 2012 1:32 PM ET
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Jim Chanos, who oversees $6 billion at Kynikos Associates Ltd., said he’s
betting against Brazil’s Petroleo Brazileiro SA (VALE5) and Vale SA (VALE3)
, adding that investors buying the stocks risk subsidizing failed government
policies.
“Increasingly, these state and capitalist marriages end up giving
capitalists the short end of the stick,” the hedge-fund manager said at the
Ira Sohn Investment Conference in London today. While Brazil is “resource-
rich,” its state-backed companies are overvalued, Chanos added.
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Petroleo Brasileiro’s annual expenses are eating up its cash, Chanos said.
Investors betting that the company’s shares will rise are assuming that
future oil exploration will boost returns while production is actually
declining, he said.
Vale, the world’s biggest iron-ore producer, is reliant on exports to China
, Chanos said. With growth in the Asian nation slowing, Vale’s prospects
are worsening, he said.
“This is a company expanding into a glut that is about to fall,” he told
the conference. | y******i
发帖数: 2584 | 2 Chanos厉害啊，EWZ PBR VALE稳步下跌，他看FA特别是fraud company的能力确实一流
，当年看出安然的问题，不是随便蒙的， | p********o
发帖数: 8012 | 3 2013 is austerity year! for all the world.
that is why i am shorting AUD, same as basil.
[发表自未名空间手机版 - m.mitbbs.com] |
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