"Wall Street is a giant positive reinforcement machine. If you’re a short seller, you’re coming in every day, and out [the] names in your portfolio, Stocks recommended, earnings estimates raised, CEO on CNBC; whatever it is, you’re facing that noise." google.com/amp/s/25iq.com…
Jim Chanos: "We try not to short on valuation, though at some price even reasonably good businesses will be good shorts due to limitations of growth. We try to focus on businesses where something is going wrong.”
"In investing, you can be really right but temporarily quite wrong.” "Short selling is very costly and full of risk for the short seller to execute and maintain a position, waiting for the rest of the market to realize the stock is overvalued.” Jim Chanos
Chanos doesn't like to have any one position in his portfolio be above 5%, with an average of 2% per position. “Our portfolio turns over about once a year,” says Chanos. “Doing this as a professional with a portfolio approach makes much more sense.” “Don’t try this at home kids.”
