Jim Chanos, The Man Who Tried To Short Tesla, Calls It Quits

As reported by The Wall Street Journal, prominent short-seller Jim Chanos is closing down the hedge funds he manages after nearly four decades in the business. Chanos gained fame for his contrarian bet against Enron that proved correct when the energy trading company collapsed.

According to The Wall Street Journal, Chanos’s firm, Chanos & Co., currently manages less than $200 million, down significantly from a peak of $6 billion in 2008. His funds are down 4% so far in 2023, while the S&P 500 is up 19% over the same period, including dividends. Shares of Tesla, one of Chanos’s long-term short, have risen over 90% this year, and the electric vehicle maker is now one of the world’s most valuable public companies.

He expects to return the majority of his investors’ capital by December 31st. 

Our Thoughts

Chanos’s struggles likely stem from a combination of more knowledgeable retail investors enabled by free online information, making the short-selling strategy he helped pioneer increasingly difficult.

More Articles for You

All-New BYD M6 Launched In Indonesia: Headed For Malaysia

The BYD M6 made a big splash at the Gaikindo Indonesia International Auto Show recently, a car show set up …

Lotus Emeya Hypercar Packing 918-hp Goes On Sale In Malaysia

Lotus is making arguably the biggest media splash in its history by launching two new cars at the same time. …

Ford Reverts From EVs To Gas-Power And Hybrids To Meet Heavy Demand

Let’s cut right to the chase. Looking at the state of today’s auto industry, there’s one thing we can definitely …

New Jaecoo J7 Finally Launched In Malaysia

We’ve been hearing about the Jaecoo J7 for a while now, but folks, here it is—at last. The official pricing …

The Best Tesla to Buy Now: Model 3 Long Range Rear-Wheel Drive

In the ever-evolving world of electric vehicles, Tesla continues to lead the pack with its innovative and high-performance offerings. For …

New XPeng G6 Teased Ahead Of Launch In Malaysia

Don’t you just love carmakers and their teaser images? This time, Bermaz Xpeng Sdn. Bhd has uploaded a teaser photograph …