Kynikos – Financial Treason & Crime

F McGuire, 26 April 2018

Investment guru Jim Chanos is betting against Dunkin’ Brands and Burger King’s parent. Chanos told CNBC that he has been shorting fast-food stocks Dunkin’ Brands Group Inc. and Burger King’s parent Restaurant Brands International Inc. “for about a year.”

The founder and president of Kynikos Associates said in a “Squawk Box” interview that he’s shorting Dunkin’ Brands and Burger King’s parent Restaurant Brands International. “We’ve been short these things for about a year,” said Chanos. Chanos said price-to-earnings ratios for restaurant stocks have been going “higher, higher and higher as restaurants themselves have struggled.”

“At some point, that has to come to an end,” he said. “This is part of a broader theme … the franchisers versus the franchisees,” Chanos said. He said he doesn’t like what he calls “this asset-light idea” of these companies not owning their restaurants while “basically clipping the coupons, collecting royalties” from the franchises, CNBC.com reported.
Continue reading “Article: Jim Chanos: Bet Against Dunkin’ Brands, Burger King”

09/13/201603/03/2021

Article: Jim Chanos: I’m still short Valeant and not about to quit

Article - Media, Publications

Jim Chanos: I’m still short Valeant and not about to quit

Tom DiChristopher, 13 September 2016

Short seller Jim Chanos on Tuesday said he is still short shares of Valeant Pharmaceuticals, and he’s not about to close out his bet against the drug company anytime soon.

“We started shorting the stock in the low $100s, added to it in the $200s, choked on it at $290 but stayed short and added to the stock as recently as early this year,” the Kynikos Associates founder told CNBC’s “Fast Money Halftime Report” on the sidelines of the Delivering Alpha conference in New York. Continue reading “Article: Jim Chanos: I’m still short Valeant and not about to quit”

01/03/200905/20/2020

Web: Will the Justice Department and the SEC Go After Blatantly Illegal RICO Activity by the Nation’s Most Prominent Hedge Funds?

Web

Will the Justice Department and the SEC Go After Blatantly Illegal RICO Activity by the Nation’s Most Prominent Hedge Funds?

Bob O’Brien

Sanity Check via Wayback, 3 January 2009

Apparently hedge funds like Kynikos, and SAC, have a secret for their outsize performance.

Racketeering, and illegal frontrunning, if my read is correct.

That’s the only conclusion one can draw from the stunningly simple and obvious analysis of email records that Judd Bagley, over at the Deepcapture site, has compiled.

You have Jim Chanos, who is all over the airwaves as the advocate and public face of the hedge fund world, who argues against any and all regulation or oversight for hedge funds or short sellers, apparently actively frontrunning information illegally obtained from stock analysts, who eagerly shared their analysis and spreadsheets with him in advance of publishing negative smear pieces subsequently shown by time to have been nothing more than hatchet jobs.

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03/13/200704/01/2021

Article: Bloomberg TV Examines ‘Phantom Shares’ in Special Report Tonight

Article - Media, Publications

Bloomberg TV Examines ‘Phantom Shares’ in Special Report Tonight

Bloomberg , 13 March 2007

NEW YORK, March 13 /PRNewswire/ — Tonight BLOOMBERG TELEVISION(R) examines a little-known stock trading practice that can be affecting your portfolio and your company. The special report, titled “Phantom Shares,” explores the problem of “naked shorting” in the stock market. The half-hour BLOOMBERG TELEVISION program is scheduled to air on Tuesday, March 13, 2007 at 7:00, 9:00 and 10:00 p.m. ET.

Every day, millions of shares of stock are sold but can’t be delivered because of an obscure trading practice called “naked short selling.” In a normal short sale, an investor borrows shares and sells them, making a profit if the price falls by replacing the borrowed shares with cheaper ones. In a naked short sale, an investor doesn’t borrow the shares, but sells them anyway. In extreme cases, the investor sells “Phantom Shares,” shares that don’t exist. The BLOOMBERG TELEVISION report, anchored by Mike Schneider, explains this practice, how it’s executed and what the Securities and Exchange Commission is doing in an effort to control it. Continue reading “Article: Bloomberg TV Examines ‘Phantom Shares’ in Special Report Tonight”