Jim Chanos on S&P Downgrade of US Debt

Jim Chanos headshotJim Chanos was on Bloomberg TV last night discussing S&P’s downgrade of US debt.  Chanos has been bearish on the rating agencies for 3-4 years. Chanos noted that S&P made a $2 trillion mistake. He thinks it is ironic that the rating agencies who got us into the financial crisis and our current debt mess, are now downgrading us because of it. Chanos also thinks the Credit Default Swap spreads (which is the market), did a far better job on getting the ratings right on sovereign debt than the rating agencies themselves.

Below is the full video:

Warren Buffett’s 2018 Activist Investment

Berkshire Hathaway Warren BuffettMost investors are aware of Warren Buffett's most high profile long-term investments. However, there is one long term investment that is often overlooked. Q2 2020 hedge fund letters, conferences and more This is building materials maker USG, which was owned by Berkshire Hathaway for more than 17 years before it was acquired in 2018. If Read More