'Jim Chanos, founder of New York- based hedge fund Kynikos Associates, said he’s betting against Vale SA and other commodity-related companies with ties to China.Vale, the world’s biggest iron ore producer and a major China exporter, is building “a fleet that is larger than the U.S. Navy,” Chanos said today at the GAIM/GMA conference in New York. Rio de Janeiro-based Vale shipped about 41 percent of its total iron ore and pellet sales to China in the first quarter.“Vale is one of the more aggressive miners that has capital expenditure closely tied to China,” Chanos said in an interview.Chanos said he’s also betting against cement producers, without naming them, and reiterated that he’s shorting Chinese banks and property developers. 'http://mobile.bloomberg.com/news/2011-10-11/chanos-says-he-s...-------------------------GG Home Fool
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Ra