Short seller Jim Chanos calls meme stock traders greedy and upright – and says they cry and point fingers when they lose money


Jim Chanos.
  • Jim Chanos accused even stock traders of being greedy, childish and empowered.
  • The short seller said he was looking for profit and not punishing Wall Street’s greed.
  • Chanos’ recent shorts include Elon Musk’s Tesla, Warren Buffett backed DaVita, and Beyond Meat.
  • See more stories on the Insider business page.

Jim Chanos lambasted even stock traders as immature and petulant in a tweet this week. The veteran short seller also accused them of only caring about money, dismissing their big claims of attacking Wall Street and democratizing finance as false narratives.

“$ GME is up 780% and $ AMC is up 1.470% this year. $ AMC has tripled in the past three months,” the Kynikos Associates boss tweeted from his WallStCynic Account, using tickers for GameStop and AMC Entertainment – two of the most popular memes actions.

“It’s not outrage, it’s greed,” Chanos continued. “The new generation of authorized retail ‘investors’ have to win all the time, or they cry and blame them,” he added, referring to the hedge funds and obscure institutions that some stock buyers even accuse of rigging the markets.

Kynikos boss tweeted in response to another user suggests GameStop and AMC’s short cuts have exposed the manipulation of stock prices by Wall Street crooks. Chanos has repeatedly mocked buyers of stocks even for their ignorance in recent months, and warned the scale and extent of speculation in the market today is much worse than during the dot-com bubble.

Chanos is best known for exposing Enron’s massive accounting fraud and short selling its shares before the energy giant went bankrupt in 2001. His most recent shorts include Beyond Meat, Elon Musk’s Tesla and DaVita – a specialist in renal dialysis who counts Warren Buffett’s Berkshire Hathaway as its main shareholder.

The short seller is one of the many leading investors to sound the alarm bells about the day trading boom. Buffett, Michael Burry, Mark Cuban and several others have warned amateur stock pickers and options traders not to get carried away.

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