Jim Chanos China Presentation: The Mother of All Bubbles

Jim Chanos China Presentation: The Mother of All Bubbles

Jim Chanos China Presentation titled ‘China: The Edifice Complex’ The presentation is from a speech which took place at the Wine Country Conference on April 5, 2013. Jim Chanos covers Chinese banks, corruption, housing, infrastructure, debt, wages and more. Below is an excerpt from the wealth destruction section:

Large-scale capital projects grow sillier by the day
–New South China Mall – world’s largest and loneliest
–New Ordos – empty city in Inner Mongolia
–Sky City One – world’s tallest building to be built in only 90 days
•Massive infrastructure spending continues
–1,188 new shopping malls by 2015
–Airports: 14 opened in 2012 and 12 to be constructed in 2013
–Subways: 28 cities get approval to build or expand subways
•Feasibility is secondary thought
–Overstate revenue and understate maintenance costs
–Is economic depreciation being factored in?

Li Lu’s Four Basic Principles of Value Investing

li Lu valuewalk great value investors BYD charlie munger Warren Buffett Chinese investors concentrated investingLi Lu is undoubtedly one of the most under-appreciated investors. The founder and Chairman of Himalaya Capital Management established his firm in 1997 based on the principles laid out by Benjamin Graham. Lu is a close friend of Charlie Munger and was once thought to be in-line to succeed Warren Buffett as the chief investment Read More


Below is the full presentation embedded in scribd:

Jim Chanos CHINA PRESentation for Wine Country Conference 5 April 2013

H/T Value Investing World