Jim Chanos Hints at Glencore Short, Questions Company's Strategy
- Glencore's deal for Xstrata changed the company: Chanos
- Chanos concerned Glencore buying at the top, selling at bottom
Jim Chanos: I'm a Potential Purchaser of Glencore Stock
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Glencore Plc bought assets at the top of the market and is now selling at the bottom, said Kynikos Associates LP founder Jim Chanos, hinting that he is short the stock.
“We are not going to comment on our position in Glencore, but what I will say is we know the company pretty well,” Chanos said in an interview with Bloomberg Television in New York. “I’m a potential purchaser,” he added. “To close out a short position you have to buy stock.”