HEDGE FUND CHIEF SHORT AND $WEET (Shorting all cable & satellites)

NY Post ^ | 11/09/08 | TERI BUHL and KAJA WHITEHOUSE

[TigerLikesRooster]

HEDGE FUND CHIEF SHORT AND $WEET

By TERI BUHL and KAJA WHITEHOUSE

Posted: 4:37 am

November 9, 2008

Renowned short seller Jim Chanos is emerging as a potential front-runner for this year's prize for top hedge-fund performer.

According to performance data obtained by The Post, Chanos' short-only fund, Ursus, is up 53.2 percent through the end of October, besting the 30 percent performance Chanos booked in 2007, when he was ranked one of the top 100 traders. For October alone, the $5 billion fund earned its investors a whopping 17.8 percent.

Meanwhile, Chanos' long-short fund, Kynikos International, is up 11.16 percent through the end of October.

[TigerLikesRooster]

I heard this is the guy who relaxed the SEC rule on short selling, ushering in the age of short attack mayhems.

However, what I found interesting in this article is that he shorted all satellite and cable companies. I gather a great majority of them are liberal outlets, as are most media outlets. And he expects that a good deal of them will go down.

I suspect Obama bailout would also include bailing out these outlets. He can't allow propaganda wing of Rats to go under in droves.

[TigerLikesRooster]

Ping!

[RSmithOpt]

Interesting.

[basil]

ping!

[Tuscaloosa Goldfinch]

If Obama does this - it’s the same thing as forcing me to pay the neighbor who slanders my family when he talks to the other neighbors. Cute.

[null and void]

Yes, but the media outlets will be nationalized, and therefore won’t make a profit or pay shareholders.

[null and void]

You pay for abortions.

[TigerLikesRooster]

Correction:

this is the guy who successfully lobbied for relaxeding the SEC rule on short selling

[TigerLikesRooster]

Well, if so, it will be titled:

Obama Broadcasting "Gullible yesman" Network

[null and void]

More likely the American News Unified System.

(It's just a few inches behind your network)...

[Truth29]

"I heard this is the guy who relaxed the SEC rule on short selling, ushering in the age of short attack mayhems.>p> However, what I found interesting in this article is that he shorted all satellite and cable companies. I gather a great majority of them are liberal outlets, as are most media outlets. And he expects that a good deal of them will go down.

I suspect Obama bailout would also include bailing out these outlets. He can't allow propaganda wing of Rats to go under in droves."

I would add that the New York Times, The Washington Post and their ilk will also end up on the public dole. The MSM death watch will be short-circuited by public funding - much like public broadcasting is supported by out tax dollars.

[raybbr]

I heard this is the guy who relaxed the SEC rule on short selling, ushering in the age of short attack mayhems.

I thought that was Cox. I may be mistaken.

[TigerLikesRooster]

I rephrased my wording since the first post.
I meant to say that Chanos successfully lobbied for it.

[JLS]

I suspect he is not shorting satellite radio because if the fairness doctrine comes back, it will make satellite radio as we all sign up to listen to rush.

[sportutegrl]

I disagree on shorting cable now. I see this time as similar to 9/11, with people doing little traveling for entertainment, being unsure about the economy, preferring to stay home and watch tv. Cable companies have been outperforming the market lately. Whereas WDW is offering a deal that has not been seen since right after 9/11: buy 4 nights, get 3 free. When it came out then, it was called the best savings on a Disney vacation ever seen.