We know, Christmas was a few weeks ago. But reading this morning's Times story about contrarian investor Jim Chanos reminded us of Dr. Seuss's seasonal tale. Why? Chanos is basically the Grinch, as we've found by measuring him against three criteria.
1.What They Say:
Chanos (Whilst smacking down those who see China as the world economy's best hope): "The Chinese are in danger of producing huge quantities of goods and products that they will be unable to sell ... there’s no bigger credit excess than in China.”
The Grinch (Whilst removing the jolly Christmas paraphernalia from the homes of the Whos): "These stockings are the first things to go!"
2. What Others Say About Them:
Chanos (Economist Jim Grant, describing the nature of the Grinch): "He homes in on the excesses of the markets and profits from them. That’s been his stock and trade.”
The Grinch (Dr. Seuss, describing the nature of): "His heart is two sizes too small."
3. Physical resemblance: Startling!