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Jim Chanos called Enron before it collapsed - by reading the one page everyone skipped. now he says the same trick is hiding in plain sight again. the trick: in a spending boom, one dollar gets counted twice. booked as profit by the company selling the gear - quietly... show more
435,394 Aufrufe • vor 3 Monaten •via X (Twitter)
35 Kommentare

Jim Chanos was wrong many times. He bet against Tesla and lost a shit ton of money. I believe he closed up shop because his investors wanted out of the fund. He’s a very smart dude though.

Are we still talking about the depreciation schedules on GPUs? Has anyone told him the 100s from 2020 are still churning out big inference dollars?

Have you checked his performance since financial crisis?

He's been short Tesla since almost the inception. I'm not saying he's wrong on spending, but one great call doesn't make him right on everything. Caution is advised.

Stop following these mentally-ill perma-bear doomers. They don’t make money. They just book interviews.

The way he breaks down that double-counting is pretty wild. It makes you wonder how many other booms have had similar hidden flaws that only become obvious in hindsight.

He still short Tesla ? 🤣

Not unlike how they account for gold leases, swaps, etc. The gold is counted twice, on the books of both entities as an asset.

OpenAi has delayed its IPO until next year because the investor confidence is not there. They same will be for Anthropic. 60% of American companies are now using Chinese open source models. Once again:

I’ve noticed these comparisons often lean heavily on historical analogies that don’t map cleanly onto current demand cycles. My take is the accounting concern is worth understanding, but it doesn’t automatically imply the same outcome imo.

thanks for the ai slop post, very informative

@DexAust

Chanos mistakenly calls SPCX a neocloud—a commodity business. Tesla is no neocloud. Launching a 300MW SOTA coherent compute cluster in 120 days is astounding. Temporary rentals to Anthropic & Google will yield a massive ROI. Chanos repeating old mistake -treating Tesla as just another auto company.

One dollar counted twice as profit and depreciation at the same time is a wild pattern to spot repeating.

the networkers were stuffing their channel with boxes which were then moved to offsite warehouses.

No economist, but Chanos' theory is true of every product sold.

He first said hyperscalers were cooking the books with their extremely long depreciation schedules and now he has quietly walked it back. He now says 5 years old hardware could possibly be used for 8-10 years. The dude is a clown… doesn’t own up to the bs he spawns…

Jim called it. And here again.

Demand was non existent in 2000. Today the GPUs are literally burning in the server racks!

Fiber companies in 2000 were laying dark cable and therefore didn’t have the revenue to service their debt. The largest most profitable companies EVER have the means to pay these days. Almost no semi built today for AI is going unused. See the difference?

booked

Unbelievable I’m a total nobody and I picked up the same thing. Wow

Chanos has spent the last 20 years being on the wrong side of everything

Videos like these deliver alpha—always have, always will.

When is this freakkin Ackman gonna buy UBER?

Isn't that double counting what economists call the multiplier?

Chanos was short Tesla as early as 2016 and has called for it's collapse in price many times since. How did that work out?

@DA_Stockman That one dollar gets passed around like a pack of Marlborough Cigarettes in the Soviet Union.

As an accountant and a tax attorney I am at a loss for words by this statement. Simply idiotic. "...in a spending boom, one dollar gets counted twice. booked as profit by the company selling the gear - quietly depreciated by the one buying it..."

In the telecom buildout they forgot to install the cables actually going to people’s houses. Earnings fell because demand took much longer than expected to materialise, don’t think that applies to AI today, everyone has access already so as long as AI is useful, demand will grow

How has that worked out for him since?

Pick your pundit. I respect Chanos. I wish I had a buck for every analyst who called a BIG correction or Crash. At some point somebody will be right.

Shortsellers are rarely v rarely right though. The market is built to be up only over a bigger timeframe

only 13 minutes, now I know what I'm going to do right now

One dollar gets counted many times more than twice, because each derivative loan layer does the same thing. So it becomes a multilayered house of cards where the books show exponentially more than the actual origination.
