Secrets From Texas Hedge 'Em

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July 24 (Bloomberg) -- Founder and President of Kynikos Associates Jim Chanos discusses his outlook for Caterpillar on Bloomberg Television's "Street Smart." (Source: Bloomberg)

Ok, with today's global outlook, adam, i thought i could give you a sneak peek, it was pretty cool.

Atlantic city the other night, and we had a terrific group of folks, investors, there around the table, one of them being the story short seller jim chanos, and i had a chance to ask him about one of his recent short positions, a caterpillar.

Take a listen.

They are highly dependent on the super cycle in commodities that we see ending, and they derive half of their earnings from the mining sector.

They basically doubled up that exposure by buying another a few years ago, a mining company and equipment maker, and cat will suffer when the global commodities supersubtle winds down, and i think it will wind down in a fairly major way.

An interview on monday night, and it turned out pretty well for mr.

Chanos, because they posted profit that trailed analysts' estimates.

That poker show, that is going to be coming to you in a number of months, and we will be back

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