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☆ Why one economist says Elon Musk has turned Tesla into a meme stock
▼ + stars: | 2024-05-02 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

The economist thinks the firm no longer keeps up with what CEO Elon Musk promises. Musk really wants Tesla to be a tech company, but it's an automaker, DeLong said. Advertisement"For all the current Tesla shareholders planning to offload their holdings in the next couple of years, everything hinges on the company succeeding as a meme stock, and Musk is diligently working toward that goal," DeLong argued. Last month, investor Roger McNamee warned that the stock would start trading like a car company if shareholders decided that Musk wasn't central to its narrative. In a similar vein, short-seller legend Jim Chanos called Tesla a "hopes and dreams" stock, trading more on Musk than fundamentals.

Persons: J, Bradford DeLong, Elon Musk, Musk, Tesla, DeLong, —, Elon, Roger McNamee, Jim Chanos Organizations: Project Syndicate, Service, UC Berkeley, Street

☆ Jim Chanos discusses his legendary Enron short bet more than two decades later
▼ + stars: | 2024-02-20 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Short seller Jim Chanos is best known for calling the collapse of Enron, the world's largest energy trading company at the time. "Because the news got worse and worse and worse, and every piece of incremental bad news was much worse than what we've been through." Here's one thing that might come as a surprise: Enron was not the only stock Chanos shorted and profited from during the episode. However, Chanos saw a big red flag in Dynegy that make him bet against the stock, which eventually plunged 90%. Watch the full video above to learn about Chanos' legendary Enron bet.

Persons: Jim Chanos, Chanos, Dynegy, Jeffrey Skilling, Warren Buffett's, —, Michael Burry, Morgan Stanley's Organizations: Enron, U.S . Securities, Exchange Commission, CNBC, Warren, Warren Buffett's Berkshire, Nvidia, There's

☆ Wall Street just can't get enough of Nvidia
▼ + stars: | 2024-02-16 | by ( George Glover | Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Wall Street's excitement about Nvidia has reached a fever pitch as its valuation soars. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementExcitement on Wall Street about Nvidia is reaching a fever pitch after the chipmaker’s market value surpassed both Amazon and Google owner Alphabet this week. Nvidia is set to report its earnings for the final three months of 2023 on Wednesday. “If AI is the next industrial revolution, then absolutely we could see Nvidia’s valuation surge continuing,” Katherine Brooks of online broker XTB, told Business Insider.

Persons: Ray Dalio, Paul Tudor Jones, David Tepper, —, Ray Dalio’s, Kenneth Fisher’s Fisher, Jim Chanos, Steve Cohen’s Point72, It’s, Jensen, ” Katherine Brooks, XTB Organizations: Nvidia, Carolina Panthers, Service, Google, Traders, Reuters, Ray Dalio’s Bridgewater Associates, Kenneth Fisher’s Fisher Investments, Paul Tudor Jones ’ Investment Corp, Big Tech

☆ DraftKings and FanDuel are set to be the big Super Bowl winners amid record betting activity fueled by Taylor Swift
▼ + stars: | 2024-02-10 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Read previewSports betting companies are set to score big at this weekend's Super Bowl, with DraftKings and FanDuel leading the rush, Bank of America said in a Friday note. Sunday's game will see the Kansas City Chiefs play against the San Francisco 49ers, paving the way for blowout betting activity. DraftKings and FanDuel stand to benefit the most from this weekend of big betting, BofA equity strategists led by Shaun Kelley wrote. AdvertisementSports betting industry players are also positioned to benefit from the expected attendance of Taylor Swift, whose presence may kick betting activity into a higher gear, BofA wrote. Some examples of these proposition bets — wagers not tied to the game's outcome — include DraftKings' "how you get the girl," where Kelce scores a touchdown in each half.

Persons: —, FanDuel, Shaun Kelley, Kelley, Taylor Swift, BofA, Travis Kelce's, Swift, FanDuel isn't, Goldman Sachs, it's, Research Ben Andrews, Jim Chanos Organizations: Service, Bank of America, Kansas City Chiefs, San Francisco 49ers, Business, 49ers, Chiefs, NYSE, Leisure, Research

☆ Some of the best early-stage startup investors share a common trait that should be a lesson for Silicon Valley
▼ + stars: | 2024-01-17 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

In today's big story, we're looking at the best investors when it comes to early-stage companies. The big storyPicking winnersCaterina Fake, Cindi Bi, and Suleman AliInvesting can be a crapshoot, especially when it comes to early-stage companies. AdvertisementThe investors, profiled by BI's Ben Bergman, Samantha Stokes, Rebecca Torrence, and Leena Rao, have an incredible track record for early-stage investing. Silicon Valley can be known to have a herd mentality, especially when it comes to venture investors. And yet, some of the best early-stage investors have proven to have far better success going out on their own.

Persons: —, we've, Caterina Fake, Suleman Ali, BI's Ben Bergman, Samantha Stokes, Rebecca Torrence, Leena Rao, Joseph Aaron, cofounders, Tanja Ivanova, isn't, Chanos, Elon Musk, Jim Chanos, Tesla, Musk, Dan Ives, Goldman Sachs, Goldman, Brittany Hosea, Satya Nadella, Sam Altman, Philipp Schindler, Google's, Alyssa Powell, Michelle Obama, Betty White, Steve Harvey, Muhammad Ali, Benjamin Franklin, Al Capone, Calvin Harris, Charles Schwab, They've Organizations: Service, Business, Reuters, Getty, Elon, Tesla, Apple, Microsoft, Google, BI Locations: pant, San Francisco, Brittany, China, Davos, ChatGPT's

☆ Chaos at OpenAI ensues
▼ + stars: | 2023-11-21 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +9 min

In today's big story, we're looking at the continued fallout from the shocking Sam Altman ouster at OpenAI. Altman is alive and well, but his run as CEO of OpenAI ended abruptly on Friday. But in the days since his firing, he's escaped a messy weekend looking like the ultimate hero, Business Insider's Katie Notopoulos writes. To be fair, Microsoft CEO Satya Nadella and OpenAI CEO Emmett Shear don't seem to know why either. Meanwhile, Salesforce's Marc Benioff is already actively recruiting OpenAI employees on X.

Persons: —, Sam Altman, Altman, OpenAI, he's, Katie Notopoulos, Altman isn't, Ilya Sutskever —, Sutskever, Kali Hays, Satya Nadella, Emmett Shear, Satya Nadella Stephen Brashear, Julie Bort, Microsoft's Nadella, Nadella, that's, Madeline Renbarger, That's, It's, Kali, Ashley Stewart, Salesforce's Marc Benioff, Scott Olson, Bridgewater's, Greg Jensen, Jim Chanos, Elon, New York Jefferson Siegel, Nvidia's, Jensen Huang, execs, Elon Musk, Linda Yaccarino, Arantza Pena Popo, Camila Téllez, Melkorka, Téllez, Carly Rae Jepsen, Björk, Colleen Ballinger, Clinton, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Microsoft, Getty, BlackRock, Reuters, Nvidia, Elon, HP, Nordstrom, Clinton Lee Locations: OpenAI, Silicon Valley, Bridgewater, New York, Texas, Millennials, New York City, San Diego, London

☆ Legendary short-seller Jim Chanos slams Elon Musk supporters as news emerges that the Tesla bear will shut down his funds
▼ + stars: | 2023-11-20 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

Jim Chanos tore into Elon Musk's supporters Sunday in an expletive-laden post on X. "If you are a cult member who believes rockets exploding are a 'success'... please sit down and STFU," the legendary short-seller said. The Wall Street Journal reported Friday that Chanos would be shutting down his hedge funds. AdvertisementJim Chanos appeared to rip into supporters of Elon Musk in an expletive-laden rant Sunday, just days after the Wall Street Journal reported the legendary short-seller and longtime Tesla bear would be closing down his funds. "The marketplace for what I do has changed," Chanos told the Journal, likely referring to short sellers' struggles in 2023.

Persons: Jim Chanos, Elon Musk's, —, Elon Musk, Tesla, Chanos, he's, Musk's Tesla Organizations: Elon, Street, Service, Wall Street Journal, Enron

☆ Jim Chanos says this is a golden age of fraud with plentiful short opportunities as he converts fund
▼ + stars: | 2023-11-20 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Legendary short seller Jim Chanos, who has decided to convert his hedge funds to a family office after nearly four decades, said he remains a firm believer in short-selling in this era of rampant corporate wrongdoings. In his final message to investors, the short seller best known for his bet against Enron before its bankruptcy in 2001, said there are still more than enough short opportunities for investors. Chanos has also bet against Tesla and Coinbase in recent years, but these positions turned out to be volatile and tough at times. The founder of Chanos & Co. said Coinbase runs an unsustainable model as it makes money from increased commission rates for retail investors. "It is no secret that the long/short equity business model has come under pressure and interest in fundamental stock pickers has waned," Chanos wrote in the letter.

Persons: Jim Chanos, Chanos, –, Tesla, Coinbase, — CNBC's Scott Wapner Organizations: Enron, Digital Realty Trust, Big Tech, Chanos, Wall Street Locations: China

☆ Jim Chanos, Short Seller Who Took on Enron and Tesla, to Close Hedge Funds
▼ + stars: | 2023-11-18 | by ( Gregory Zuckerman | Peter Rudegeair | ) www.wsj.com time to read: 1 min

Wall Street’s best-known bear is going into hibernation. After nearly four decades, Jim Chanos is shutting down hedge funds he manages that wager against companies he believes are overpriced or fraudulent. His career as a short seller spanned a contrarian bet against Enron that paid off when the energy trader collapsed as well as yearslong, money-losing campaigns against Tesla and AOL.

Persons: Wall, Jim Chanos Organizations: Enron, Tesla, AOL

☆ Short-seller Jim Chanos to close hedge funds - WSJ
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: +1 min

Jim Chanos, Founder and Managing Partner of Kynikos Associates LP speaks at the Reuters Global Investment Outlook summit at the Thomson Reuters building in New York, November 19, 2013. REUTERS/Mike Segar/File Photo Acquire Licensing RightsNov 17 (Reuters) - After nearly four decades, Jim Chanos is shutting down hedge funds he manages that wager against companies he believes are overpriced or fraudulent, the Wall Street Journal reported on Friday. His firm, Chanos & Co., manages less than $200 million today, down from $6 billion in 2008, the report added. Chanos is known for his bets against Tesla (TSLA.O), on which he went short in 2016. Reporting by Pritam Biswas in Bengaluru; Editing by Shilpi MajumdarOur Standards: The Thomson Reuters Trust Principles.

Persons: Jim Chanos, Mike Segar, Chanos, Tesla, Pritam Biswas, Shilpi Majumdar Organizations: Kynikos, Reuters Global Investment, Thomson Reuters, REUTERS, Wall Street, Chanos, Reuters, Thomson Locations: New York, Bengaluru

☆ Short seller Jim Chanos closing hedge funds according to the Wall Street Journal
▼ + stars: | 2023-11-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailShort seller Jim Chanos closing hedge funds according to the Wall Street JournalThe 'Fast Money' traders talk breaking news that short seller Jim Chanos is closing his hedge funds according to the Wall Street Journal.

Persons: Jim Chanos Organizations: Wall Street

☆ Jim Chanos, the short seller who called Enron's fall, is converting hedge fund to a family office
▼ + stars: | 2023-11-17 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +1 min

Renown short seller Jim Chanos will be converting his hedge fund Chanos & Co., to a family office and advisory business, CNBC has learned. Chanos is moving to the family office model as the stock market has rallied in 2023. As recently as January of this year, he also had short bets on Tesla, pointing to rising competition in the electric vehicle market. You have [Chinese automaker] BYD and others just taking massive market share," Chanos said. Still, Tesla shares have rallied 90% this year as investors crowded into the so-called Magnificent 7 tech stocks.

Persons: Jim Chanos, Chanos, CNBC's Scott Wapner, Tesla Organizations: Renown, CNBC, Enron, Chanos, Wall Street Locations: China, U.S

☆ The Latest News, Headlines, and Business Stories for November 13
▼ + stars: | 2023-11-13 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at what the $650 billion in unrealized losses means for financial firms. That's the unrealized losses US financial firms wracked up as of September 30, according to Moody's estimate. That means there's a lot of wiggle room for how big banks can portray them on their balance sheet. To be sure, big banks are better capitalized than SVB. Big banks' share prices noticeably dropped as bond prices sunk.

Persons: —, it's, Nikolas Liepins, it'd, Matthew Fox, Dow Jones, isn't, Wall, Jim Chanos, Chanos, Ralph Lauren, Expedia, Apple, Dan Clancy, he's, Tyler Le, Tyson, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Anadolu Agency, Getty, NFL, Bank, Bank of America, Orrell, CNBC, NBCU, Apple, Big Tech, Professional, Vegas Golden Knights, Stanley, Tyson Foods Locations: Florida, New York City, San Diego, London, New York

☆ Las Vegas casino stocks are flirting with a bear market. That might be a sign an economic downturn is coming.
▼ + stars: | 2023-10-08 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

Casino stocks are slumping – and that could be bad news for the US economy. Top investor Jim Chanos has touted the Las Vegas strip as a potential economic indicator in the past. Casino stocks' losses have likely been driven by Wall Street taking a gloomier view on the economy, according to analysts. Las Vegas' next big test will be the third-quarter earnings season, with most casino operators expected to announce their results over the next month. AdvertisementAdvertisementDisappointing figures could be one of a growing number of signals suggesting that, like gambling stocks, the economy might be headed for the red.

Persons: Jim Chanos, —, – Organizations: Service, Publicly, Vegas Sands, MGM Resorts, Bellagio, MGM, Federal Reserve, Gaming, Wall, Vegas, US Consumer Locations: Vegas, Las Vegas

☆ Short seller Jim Chanos slams Michael Lewis' defense of FTX and compares the failed crypto exchange to Enron
▼ + stars: | 2023-10-02 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

Jim Chanos called Michael Lewis' defense of FTX "nonsense" on Sunday. Lewis had told CBS's "60 Minutes" that the crypto exchange failed because of a bank run. AdvertisementAdvertisementJim Chanos has slammed Michael Lewis' defense of FTX, flatly dismissing the idea that the failed crypto exchange would have been fine without a wave of withdrawals. Lewis appeared on CBS's "60 Minutes" Sunday to discuss his upcoming book about Sam Bankman-Fried, "Going Infinite". AdvertisementAdvertisement"This is nonsense, as both FTX and Enron were both massively insolvent, not illiquid," the short seller added.

Persons: Jim Chanos, Michael Lewis, Lewis, CBS's, —, FTX, Sam Bankman, Chanos, CoinDesk, Fried, Donald Trump Organizations: Service, Enron, Alameda Research, New York City Locations: New York

☆ The US consumer has been holding up the economy this summer by splurging on movies and concerts — but this may not last, a new survey indicates
▼ + stars: | 2023-09-12 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

The strong consumer spending propping up the US economy may not last, a Bloomberg survey found. Over half of the respondents said they think US personal consumption will shrink in early 2024. High interest rates and a drawdown of pandemic-era savings could hit consumer spending. Since consumer spending accounts for about 70% of the US economy, any changes in the measure are a big deal. AdvertisementAdvertisementMeanwhile, JP Morgan predicted in an August 17 note that the stock market is set to fall as US consumer spending softens.

Persons: Jim Chanos, Anna Wong, James Knightley, David Rosenberg, JP Morgan Organizations: Bloomberg, Service, Wall, Bloomberg Economics, ING, Federal Reserve Bank of San Locations: Wall, Silicon, Federal Reserve Bank of San Francisco

☆ Former US SEC chair calls for companies to disclose China risk
▼ + stars: | 2023-09-12 | by ( Carolina Mandl | ) www.reuters.com time to read: +2 min

Jay Clayton, former chairman of the SEC, speaks during the 13D Monitor's Active-Passive Investor Summit in New York City, U.S., October 18, 2022. In his testimony, the former Securities and Exchange Commission (SEC) chair proposed that companies with market capitalizations above $50 billion or with China-based revenues or costs above $10 billion unveil their exposure to the world's second biggest economy. He also recommended those companies explain how their operations would be affected in the event of a disruption in U.S.-China economic ties. Clayton's views as the former SEC chair still carry weight among Washington policymakers, though he is no longer in government. If the level of risk is decreased, they will invest," he said, adding more disclosure would reduce systemic risk.

Persons: Jay Clayton, Brendan McDermid, Cromwell, Clayton, Jim Chanos, Anne Stevenson, Yang, Donald Trump's, Carolina Mandl, Michelle Price, Chizu Organizations: SEC, REUTERS, Sullivan, Big U.S, Chinese Communist Party, Wall, Securities and Exchange Commission, Thomson Locations: New York City, U.S, Big, China, Wall Street, Washington, York, New York

☆ Wall Street firms and retired generals to discuss hypothetical Chinese invasion of Taiwan
▼ + stars: | 2023-09-07 | by ( Jason Ma | ) www.businessinsider.com time to read: +2 min

Wall Street firms and retired generals will discuss a hypothetical Chinese invasion of Taiwan. The "tabletop exercise" will take place next week in New York, sources told the New York Times. It comes as the congressional China committee plans to meet with top Wall Street investors. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. It comes as the congressional China committee plans to go to New York, where lawmakers will meet with banks, hedge funds and venture capital firms, according to the New York Times.

Persons: Jay Clayton, Jim Chanos, Anne Stevenson, Yang, Mike Gallagher, Biden, BlackRock Organizations: New York Times, Wall, Service, Chinese Communist Party, Council, Foreign Relations, Communist, Financial, Securities and Exchange, Kynikos Associates, J Capital Research, Financial Times, Wall Street Locations: Taiwan, New York, China, Wall, Silicon, Wisconsin, MSCI, Xinjiang

☆ 'Shark Tank' investor Kevin O'Leary says it's weird there's no recession yet — and predicts mortgage rates will exceed 8%
▼ + stars: | 2023-08-31 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +2 min

Kevin O'Leary finds it surprising the US economy has avoided a recession so far. The "Shark Tank" investor expects interest and mortgage rates to rise further. The US economy has managed to escape a recession so far — but mortgage rates are headed higher in the months ahead, he said. "We have this weird situation in America, we're at full employment," the "Shark Tank" investor told Fox News. Wonderful" — said interest rates were on track to hit 6% at least, pushing mortgage rates from about 7% today to above 8%.

Persons: Kevin O'Leary, Jerome Powell, Jim Chanos, O'Leary, — Organizations: Service, we're, Fox News, Federal Reserve Locations: Wall, Silicon, America, Texas, Florida

☆ An indicator of Americans' willingness to gamble could suggest continued resilience in the US economy
▼ + stars: | 2023-08-30 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

Famed short-seller Jim Chanos has said casino revenue is a "pretty good" leading indicator of the US economy. Famed short-seller Jim Chanos said earlier this year that casino revenue can be viewed as a reliable data point. AdvertisementAdvertisementLas Vegas casino revenue grew just 2% in 2007 after a three-year period of double-digit growth, then fell about 10% in both 2008 and 2009. Meanwhile, Las Vegas casino revenue grew just 7% in 2000 after a solid three-year stretch of growth. As long as Las Vegas casino revenue continues to hit new records and grow, an economic recession may be nowhere in sight.

Persons: Jim Chanos, wasn't, Michael Lawton, Harry Reid, they're, Chanos Organizations: Nevada Gaming Control Board, Gaming Control, Harry Reid International Airport, Vegas, Las Locations: Nevada, Las Vegas, Vegas

☆ Veteran short-seller Jim Chanos calls soaring electric carmaker VinFast a '$200 billion meme stock'
▼ + stars: | 2023-08-29 | by ( Joseph Wilkins | ) www.businessinsider.com time to read: +2 min

Vietnamese electric carmaker VinFast has seen its shares skyrocket since it went public on August 15. Its market capitalization now stands at over $190 billion – but some investors cannot hide their disbelief. Veteran short-seller Jim Chanos called the carmaker a "$200B meme-stock" in a post on X. Monday's close saw the market capitalization of the lossmaking EV firm hit an eye-watering $190 billion – more than Ford, General Motors, and Chrysler Stellantis combined. AdvertisementAdvertisementFor veteran short-seller Jim Chanos, however, the stock is being driven by a retail investor craze and little else.

Persons: Jim Chanos, Monday's, Drew Dickson, Dickson, VinFast, Le, Thuy Organizations: Service, Ford, General Motors, Chrysler Stellantis, Vanda Research, Bloomberg, Albert Bridge Capital, Toyota Locations: Wall, Silicon

☆ What's going on with VinFast stock? The electric vehicle SPAC has soared more than 800% since its debut and is worth more than Ford.
▼ + stars: | 2023-08-29 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

VinFast soared as much as 830% since it went public via a SPAC IPO earlier this month. The Vietnam-based electric vehicle maker released its cars on the US market earlier this year. The small float of available shares of VinFast could be the main factor behind the sharp stock rally. Vietnam-based VinFast has seen its stock soar as much as 830% since it went public via a SPAC IPO earlier this month. So why is VinFast stock so high?

Persons: it's, VinFast, MotorTrend, Faraday, Pham Nhat Vuong, Jim Chanos isn't Organizations: Service, Toyota, Ford, General Motors Locations: Vietnam, Wall, Silicon, VinFast's, VinFast

☆ Are office buildings the next 'Big Short' or the next widow-maker trade? The trader behind the ubersuccessful mall short shares his playbook for making money without flaming out.
▼ + stars: | 2023-08-17 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +16 min

Dan McNamara's Polpo Capital is shorting office real estate, a risky move that could be lucrative. If you're looking for a doomsday vision of commercial real estate, you can find it there. "I don't think this is the 'Big Short,'" McNamara told me. This doesn't mean he doesn't have a game plan to make money off cultural shifts that could forever change the state of commercial real estate. Lucas Jackson/ReutersWhere he's going longOne risk of shorting real estate is that it's more susceptible to what's known in real-estate circles as "extend and pretend."

Persons: Dan McNamara's, McNamara, it's, It's, shorting, Carl Icahn, Jim Chanos, Brendan McDermid, Dan McNamara, McNamara's, Braver Stern, Dan McNamara McNamara's, suede loafers, McNamara didn't, Josh Nester, Polpo, he's, Morgan Stanley, Kamil Sadik, Lucas Jackson, Manus Clancy, You've, David Tepper's, Trepp's Clancy, Clancy, David Tepper Organizations: Central Park, New, Polpo, New York University, Columbia, Kynikos Associates, Enron, Asset Management, Reuters, UBS, Co, Societe Generale, Securitized Credit Partners, Credit Suisse, MP, Fund, Bloomberg, of America, Simon Property, Federal Locations: Manhattan, Sixth, Central, New York City, New York, MatlinPatterson, America, China, Italy, Westchester , New York, Tribeca, York, Westchester, Waterford , Connecticut, Baltimore, San Francisco

☆ 'Big Short' investor Steve Eisman on the hardest lesson he's had to learn over the years
▼ + stars: | 2023-07-24 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Steve Eisman of "The Big Short" revealed a mistake he's made when trying to deploy his strategy of betting against stocks that made him famous. He said the failure of that trade made him realize the challenge of betting against a stock that doesn't trade on fundamentals. "The hardest thing that I have found over the years, is trying to short cult stocks, or meme stocks, they seem to go up on nothing," Eisman said on CNBC's " Squawk Box. " His success was chronicled in Michael Lewis' "The Big Short," and the subsequent Oscar-winning movie based on the book. Eisman said he was shocked by the stock's rally despite the EV company's drastic price cuts recently.

Persons: Steve Eisman, he's, Neuberger Berman, Eisman, shorting, Michael Lewis, Elon, Jim Chanos, Tesla, it's Organizations: Tesla Locations: United States

☆ Return to Office, Recession Fears End Wall Street's Hamptons Work-From-Home Party
▼ + stars: | 2023-07-09 | by ( Linette Lopez | ) www.businessinsider.com time to read: +13 min

It may seem counterintuitive, but the pandemic was like a brief visit to Shangri-La for Wall Street. For the first time in years, Wall Street has to sing for its supper. A return to the office also means a return to more-classic Wall Street social norms. Wall Street, for all its highfalutin personalities and big paydays, is an apprenticeship system. For Wall Street, the heart of the pandemic was a moment to consider what life would be like at a slower, more-nurturing pace.

Persons: You've, Crypto, Dealmaking, Goldman Sachs, me, Seth Klarman, Klarman, Lee Felty, Harrison, Felty, Jim Chanos, Chanos, Jamie Dimon, David Solomon wouldn't, Fenty, Goldman, Solomon, Wall, Young, It's, Al Mare, Topping Rose, Jean, Georges, Maison, Wall Streeter, Linette Lopez Organizations: Wall, JPMorgan, Hamptons, CNBC, Compass, Chanos, East Hampton, Citigroup, Bloomberg, SoHo Locations: New York, East, Manhattan, Long, Stocks, Bridgehampton, It's

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