x

Nextgen

Investment Guru Chanos Warns The Big Short Coming Again

Kynikos Capital Partners owner Jim Chanos told The Financial Times that in the age of COVID-19 and volatile politics in the United States that, “this market is setting up to be one of the great short opportunities of all time. Trouble’s coming, I don’t know when, but it’s coming,” he said.

In short selling, an investor borrows a stock, sells the stock, and then buys the stock back to return it to the lender, betting it will drop in price and if so, they buy it back at a lower price to return to the lender, making a profit off the difference.

Chanos has gotten very rich with the practice, picking up $100 million recently by shorting Wirecard, the German payment processor before it collapsed in a criminal scandal, rattling markets.

He claimed we’re in a “golden age of fraud,” describing the current market climate as rife with euphoria, FOMO (Fear of Missing Out) and Trumpian “post-truth” politics –  “a really fertile field for people to play fast and loose with the truth, and for corporate wrongdoers to get away with it for a long time,” he said.

RELATED

NEW YORK – Theoharis Dimarhos, Founder and CEO of Ellis, spoke with The National Herald about his roots in Karpathos and his company which produces entertaining and educational content for children and families that highlights Greek culture and stories.

Top Stories

Columnists

A pregnant woman was driving in the HOV lane near Dallas.

General News

NEW YORK – Meropi Kyriacou, the new Principal of The Cathedral School in Manhattan, was honored as The National Herald’s Educator of the Year.

Video

Alberto, Season’s First Named Tropical Storm, Dumps Rain on Texas and Mexico, Which Reports 3 Deaths

TAMPICO, Mexico (AP) — Tropical Storm Alberto rumbled toward northeast Mexico early Thursday as the first named storm of the season, carrying heavy rains that left three people dead but also brought hope to a region suffering under a prolonged, severe drought.

A former CNN anchor and a retired chemistry professor are facing off in a Democratic primary to pick a challenger to U.

LITTLE ROCK, Ark. (AP) — A shooter who opened fire Friday at a grocery store in Arkansas left the store and parked cars riddled with bullet holes as bystanders ducked for cover both indoors and in the parking lot, killing 3 people and wounding 10 others, authorities said.

DEIR AL-BALAH, Gaza Strip (AP) — Israeli forces shelled tent camps for displaced Palestinians outside Gaza's southern city of Rafah on Friday, killing at least 25 people and wounding another 50, according to the territory's health officials and emergency workers.

A quick Internet search regarding His Grace Bishop Timotheos of Assos, an auxiliary bishop in the Metropolis of Mexico, along with videos from his sermons, reveals a clergyman who has a profound appreciation and love of Hellenism to match his missionary zeal for spreading Orthodox Christianity in South America.

Enter your email address to subscribe

Provide your email address to subscribe. For e.g. [email protected]

You may unsubscribe at any time using the link in our newsletter.