NEW YORK (
) --Jim Chanos, short-selling founder of Kynikos Associates, shed a bit more light on his bank investments across the globe in an interview with
, including his long positions in
(C - Get Report)
(JPM - Get Report)
Chanos elaborated on statements he made
, where he argued U.S. banks were the first to deleverage and are now poised to resume growth. Asia's banks, on the other hand--particularly Chinese ones, are just beginning that process, Chanos contends, and European institutions are in the middle stages of reducing leverage. His long positions in JPMorgan and Citigroup, he explained, are hedges against short bets in Europe and Asia, particularly China.
, Chanos disclosed that one of his short positions is
Agricultural Bank of China
. He also gave a bit more detail about why he chose JPMorgan and Citigroup as longs rather than
(WFC - Get Report)
Bank of America
(BAC - Get Report)
. Those latter two banks, Chanos said, are more domestically focused, and so do not work as well to offset his short positions. A call to Chanos wasn't immediately returned.
Written by Dan Freed in New York
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