Jim Chanos, the legendary hedge fund manager who shorted Enron when the company was flying high, is predicting a “huge spike in defaults” of leveraged loans, according to Reuters.
“I don’t know what crack pipes these guys were smoking, but some of the valuations were absolute madness,” said Chanos, speaking to hundreds of investors, referring to private equity firms and their portfolio companies.
Short-seller Chanos sees raft of new opportunities [Reuters]
The progression goes investment banking –> private equity –> hedge fund and marijuana –> crack –> ?
Please, we’re classy here, coke only
Methanphetamines for me, please
Fox BN just covered “Boy toys and Sugar mamas” event which apparently took place last night.
Any news on that from DB?
A certain exec over at Bear would reply to your comment AJ, but he’s too busy smoking joints in the bathroom.
Not something you’d ever expect to hear from a career short-seller…