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Jim Chanos Tours Art Basel, Shows Off Favorite Piece of Art in His Home

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Dec. 8 (Bloomberg) -- Over 250 of world's leading galleries were inMiami last week for Art Basel, America's largest contemporary art fair where $3 billion worth of art draws a crowd of over 70,000. Bloomberg's Stephanie Ruhle spent a day with famed short seller and art collector Jim Chanos, founder of Kynikos Associates. (Source: Bloomberg)

As the Art Basel Miami Beach art fair closed this weekend, Bloomberg anchor Stephanie Ruhle traveled to South Beach to talk to hedge funder Jim Chanos about the state of the art market, see his favorite piece of art -- and ask whether his Kynikos Associates will continue to short the Sotheby's auction house now that the CEO has been pushed out.

"I think that was an activist issue," Chanos told Ruhle. "We’re just looking at the economics of the business. Not the board or what activists are gonna do."