Greatest Short-Selling FAIL In History

In this video we go over short seller Jim Chanos's multi year short position on tesla that has lost him billions of dollars.

#WallStreetMillenial #TSLA

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[ericlapalme]

The Chinese short position is a prime example of the saying "The market can remain irrational longer than you can remain solvent."

[theultimatenewplayer]

He was so hyper focused on his short of Tesla that he overlooked Nikola and Nikola was 100% what they thought that Tesla was.

[ReijiMoritsugu]

Every time this dude came out with his outlandish claims about tesla I bought more shares and now Tesla made me $50k in profits. So thank you Jim!

[shaunrosenberg]

Well he's not wrong about China's real estate market in a bubble. But timing when it pops is easier said than done.

[miked]

Chanos was also right about China's real estate development.

[sublimeade]

Forbes - "There is no Chinese real estate bubble"
Evergrande, 2021

[lifeforgod]

Chanos was almost right. Tesla almost went bankrupt during the model 3 production ramp two years ago. That's the problem with shorting though. The odds are against you. You can only make a max of 100% but the sky is the limit on what you can lose

[ashtonoates]

GREATEST SHORT SELLING FAIL IN HISTORY

Hedge funds seeing GameStop: Hold my beer

[CullenVal]

He totally shorted GameStop too, LOL.

[MouseSPAL]

I think this just goes to show even the professionals rarely get it right on a consistent basis. No matter who you are, risky strategies are risky.

[knowyourhistory]

I think GME just broke all records and is now the greatest

[TheFelixdahouse]

"Is an overpriced CAR company". Well, yes, but actually, no.

[plague]

This is why I always say you should never short a company that isn’t in your area of expertise. If you miss one small thing you will lose it all.

[grumpyae]

Can’t believe he missed NIkola. Jimmy was too stubborn to look at real frauds as he wanted to win instead of accepting legitimacy

[MaxBrix]

I am worried about hedge fund managers. They think the market is a casino. They don't understand they could loose all their savings.

[nicholaswong]

When is the Melvin Capital GME part 2 coming?

[dellcof]

He is right about China real estate. He was too early!!

[Cowmookaze]

The problem with these old rich boys is that they think they know everything. Times change. Ask almost any millenial and ask what care they would like to have and I'm certain a good percentage of them will say a Tesla. That's your future market... Keep ignoring them.

[derekcraig]

it's easy to trash this guy but you didn't touch on the fact that Tesla was teetering on the edge of collapse for a while. Musk even said as much

[VoltageLP]

To be fair, this dude was trying to look at the market rationally, I don't think anyone would argue TSLA or Chinese construction/real estate is not a bubble.
The old guard simply was slow to understand that market is now more like a sports gamble with Bitcoin, Robinhood and money printing on a scale already 20 times higher than in 08/09.

P.S. I was thinking of buying a Model 3 or Model Y after cashing out my TSLA stock last week (I wanted a Tesla ever since I saw a Model 3 review from Doug Demuro), but the quality of those cars is plain horrible, I'm now getting a Ford Mach-E instead...