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Value Traps James Chanos Spring 2012.pdf
- Last week Jim Chanos gave a great 28-page presentation (download below) about classic “value investing traps” at ValueX conference, in Vail.
In the presentation, the legendary short-seller, founder of Kynikos Associates, singles out several stocks that he thinks meets the “value trap” definition for various reasons. Among those are Consol Energy (CNX), Petrobras (PBR), Hewlett-Packard (HPQ), Coinstar (CSTR), Banco Santander (SAN), and Australian-based Fortescue (FMG). According to him, all these look like “value” stocks but are not.
On Petrobras, he cites government intervention, huge capex program, and poor management. As to Santander, he says its exposure to Spanish real estate is a huge liability. In addition, he notes, “Santander’s exposure to Brazil is a headwind, not a panacea” to its problems.
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Water quality and holding capacity of intensive and semi-intensive milkfish (Chanos chanos) ponds.pdf
- Waterquality holdingcapacity intensiveandsemi-intensive milkfish (Chanos chanos) pondsNeila S. Sumag
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向豆丁求助：有没有Chanos?
