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Top 15 James Chanos Quotes (2024 Update)

James Chanos Quote: “I call it the Rule of Three. If you read a company’s financial statements three times, and you still can’t figure out how they make their money, that’s usually for a reason.”

1. “I call it the Rule of Three. If you read a company’s financial statements three times, and you still can’t figure out how they make their money, that’s usually for a reason.”

— James Chanos

James Chanos Quote: “I’ll always understand the Schadenfreude aspect to short-selling. I get that no one will always like it. I’m also convinced to the deepest part of my bones that short-selling plays the role of real-time financial watchdog. It’s one of the few checks and balances in the market.”

2. “I’ll always understand the Schadenfreude aspect to short-selling. I get that no one will always like it. I’m also convinced to the deepest part of my bones that short-selling plays the role of real-time financial watchdog. It’s one of the few checks and balances in the market.”

— James Chanos

James Chanos Quote: “Bubbles are best identified by credit excesses, not valuation excesses. And there’s no bigger credit excess than in China.”

3. “Bubbles are best identified by credit excesses, not valuation excesses. And there’s no bigger credit excess than in China.”

— James Chanos

James Chanos Quote: “In China, remember, the the banks are arms of state policy. They loan because the local party official or regional party official tells them we need a new stadium. They are instruments of state policy.”

4. “In China, remember, the the banks are arms of state policy. They loan because the local party official or regional party official tells them we need a new stadium. They are instruments of state policy.”

— James Chanos

James Chanos Quote: “What we define as a bubble is any kind of debt-fueled asset inflation where the cash flow generated by the asset itself – a rental property, office building, condo – does not cover the debt incurred to buy the asset. So you depend on a greater fool, if you will, to come in and buy at a higher price.”

5. “What we define as a bubble is any kind of debt-fueled asset inflation where the cash flow generated by the asset itself – a rental property, office building, condo – does not cover the debt incurred to buy the asset. So you depend on a greater fool, if you will, to come in and buy at a higher price.”

— James Chanos

James Chanos Quote: “Derivatives in and of themselves are not evil. There’s nothing evil about how they’re traded, how they’re accounted for, and how they’re financed, like any other financial instrument, if done properly.”

6. “Derivatives in and of themselves are not evil. There’s nothing evil about how they’re traded, how they’re accounted for, and how they’re financed, like any other financial instrument, if done properly.”

— James Chanos

James Chanos Quote: “I’ve seen a lot more go to zero than infinity.”

7. “I’ve seen a lot more go to zero than infinity.”

— James Chanos

James Chanos Quote: “I’ve learned there’s a big difference between a long-focused value investor and a good short-seller. That difference is psychological and I think it falls into the realm of behavioral finance.”

8. “I’ve learned there’s a big difference between a long-focused value investor and a good short-seller. That difference is psychological and I think it falls into the realm of behavioral finance.”

— James Chanos

James Chanos Quote: “The Macau casinos have a wonderful business, it’s taking in money from Chinese businessmen elsewhere who send it through junky companies to casinos to gamble. The growth continues and they have basically western managers and western accounting, so we trust the numbers a little bit more.”

9. “The Macau casinos have a wonderful business, it’s taking in money from Chinese businessmen elsewhere who send it through junky companies to casinos to gamble. The growth continues and they have basically western managers and western accounting, so we trust the numbers a little bit more.”

— James Chanos

James Chanos Quote: “People who lose money always need someone to blame.”

10. “People who lose money always need someone to blame.”

— James Chanos

James Chanos Quote: “Chinais a world class if not the world class property bubble, primarily high-rise buildings, offices and condos.”

11. “Chinais a world class if not the world class property bubble, primarily high-rise buildings, offices and condos.”

— James Chanos

James Chanos Quote: “And so it can be very much in the interest of bank A to sell-short bank B shares, or buy CDSes on bank B, because they have exposure to bank B. It’s the responsible thing to do as a fiduciary, and yet if everyone does it at the same time, it’s destabilizing because everyone is selling.”

12. “And so it can be very much in the interest of bank A to sell-short bank B shares, or buy CDSes on bank B, because they have exposure to bank B. It’s the responsible thing to do as a fiduciary, and yet if everyone does it at the same time, it’s destabilizing because everyone is selling.”

— James Chanos

James Chanos Quote: “Increasingly, the real estate developers can’t get bank loans for their project financing in China. They’re now going into the Hong Kong market to raise money in the bond market at very, very high rates, as high as 15, 20 percent.”

13. “Increasingly, the real estate developers can’t get bank loans for their project financing in China. They’re now going into the Hong Kong market to raise money in the bond market at very, very high rates, as high as 15, 20 percent.”

— James Chanos

James Chanos Quote: “It’s very difficult in the technology space when you have been leapfrogged to prosper again.”

14. “It’s very difficult in the technology space when you have been leapfrogged to prosper again.”

— James Chanos

James Chanos Quote: “What American people and what the markets want is a fair and level playing-field, where the rules are clearly elucidated, where the referees are competent, and where we know that the game is not rigged.”

15. “What American people and what the markets want is a fair and level playing-field, where the rules are clearly elucidated, where the referees are competent, and where we know that the game is not rigged.”

— James Chanos

James Chanos Quote: “So you know, everyone points out Greece’s default record, but the history of a lot of sovereign nations is not a good one when it comes to lending them money.”

16. “So you know, everyone points out Greece’s default record, but the history of a lot of sovereign nations is not a good one when it comes to lending them money.”

— James Chanos

James Chanos Quote: “What people don’t realize is that China papered over its last two credit bubbles, those in 1999 and 2004. The banks were never bailed out – they just exchanged their bad loans for questionable bonds from quasi-state organizations.”

17. “What people don’t realize is that China papered over its last two credit bubbles, those in 1999 and 2004. The banks were never bailed out – they just exchanged their bad loans for questionable bonds from quasi-state organizations.”

— James Chanos

James Chanos Quote: “The Chinese banking system is built on quicksand and that’s the one thing a lot of people don’t realize. Everybody seems to think it is a free and clear open checkbook. It’s not. The banking system in China is extremely fragile.”

18. “The Chinese banking system is built on quicksand and that’s the one thing a lot of people don’t realize. Everybody seems to think it is a free and clear open checkbook. It’s not. The banking system in China is extremely fragile.”

— James Chanos

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