Jim Chanos Recommends Shorting Sotheby's
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Famed short-seller Jim Chanos, the founder of Kynikos Associates, recommended shorting Sotheby's on CNBC's "Squawk Box" this morning.
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He also shared this chart about how the auction house's stock price tracks bubbles:
Check out Sotheby's stock price over the years $BID via Jim Chanos pic.twitter.com/IeOHKNQbXF
- Squawk Box (@SquawkCNBC) April 3, 2014
Activist investors Daniel Loeb (Third Point) and Mick McGuire (Marcato) are long the stock and hold massive positions.
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