Archive: jim chanos

A Brutal Market for Shorting Stocks

By Adam Sharp on August 13, 2021

In 2008, I had a big short and put position on mall REITs (real estate investment trusts) and big bank stocks. It worked like a charm at first. My positions were up anywhere from 30% to more than 140%. These companies were leveraged to the hilt. Consumer spending plummeted as home prices collapsed. I was absolutely convinced these companies were all going to zero. So I held on to my puts and my shorts.