An interview with famed short seller and founder of Kynikos Associates, Jim Chanos. In this interview, Jim discusses how he got started on Wall Street and shares his experience of becoming a short seller. Jim also gives advice to young professionals on taking chances in their career while they are young.
Jim Chanos: Becoming A Short Seller and Advice To Young Professionals
The answer is how Greek American kids from what you got to see and Wall Street I think is just too worth a few Raffel distribution. I was the first fishier that day.
I had two of my two of my four children went to Yale and they I could not have gotten in today based on what I've seen and heard because I teach there are as well as kids that was God's work ethic.
So I grew up I grew up in Wisconsin is a relatively small but vibrant Greek community in Milwaukee circles around the fantastic great great Annunciation Church which is an architectural landmark in the city.
And I grew up an altar boy and Sunday school the whole the whole nine yards.
And everybody else in my family had gone to Wisconsin. So says immigrants little elsewhere and ended up hitting the East Coast.
But my Midwestern roots were such that the first job I took my graduation was in Chicago not New York where a lot of people went and educated according to Wall Street 1979 1980 was not a popular alternative. It didn't pay well well it was that the great bull market that I referred to in the talk really started from 1982. So it's funny because I was reminded that this weekend I was the junior banker my first job was I was a junior banker on McDowell's account. And there's a great movie out called the founder who came out last week for NBC. Michael Keaton plays great right now. I thought I knew the carrying freight services Ian Macdonald after great. And Ray was still the chairman emeritus when I was a junior Bangor and coffee never arrives in San Diego and you know the rest. And whenever someone was a great crack or anybody I and kind of role and never knew why there was some sort of knowledge about the founding of the great American icon.
And then I saw the founder this weekend and I go OK now I know why they are rolling their eyes so I don't get the boom the way it is you're all interested in business and great American historical stories go see it it's worth it because we all know the titles we all know and you get to find out how they came about making shakes with the ice cream and the French fries and more importantly how the ideas started and how it how it was supposed to be stopped.
You know I'm not I'm not bullish of Iraq.
Well yeah in the fast food industry for a lot of reasons but someone had to do what we thought and talk about labor costs. And I think we're about to go up a case.
So I started out in investment banking and I absolutely hated it.
Now that's why that's so about history.
Yeah he's just gotten all in the stock market. My dad was and my dad was an investor. I get hungry kids. Never. If you're in business you'll probably never ever ever really truly independent unless you're starting your own business or you become an investor and you press.