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CNBC Excerpts: Jim Chanos, Kynikos Associates Founder, on CNBC's "Fast Money Halftime Report" Today

When: Today, Wednesday, April 24th at 12pm ET

Where: CNBC's "Fast Money Halftime Report"

Following are excerpts from the unofficial transcript of a CNBC EXCLUSIVE interview with Kynikos Associates founder Jim Chanos today, Wednesday, April 24th at 12PM ET on CNBC's "Fast Money Halftime Report" (M-F, 12-1PM ET). All references must be sourced to CNBC.

CHANOS ON CHINA:
I ACTUALLY THINK IT'S GOTTEN WORSE. WHAT'S HAPPENED MORE RECENTLY AFTER THE NEW PARTY LEADERS TOOK IN, WAS ANOTHER BURST OF INVESTMENT. BUT MORE IMPORTANTLY, ANOTHER BURST OF CREDIT EXPANSION. AND WHAT REALLY HAS US CONCERNED NOW, YOU HAVE CREDIT ACTUALLY ACCELERATING IN CHINA. BUT GDP GROWTH STILL SLOWING. THERE IS A CREDIT BUBBLE THAT'S ACTUALLY NOT ONLY HUGE, BUT GETTING BIGGER.

CHANOS ON APPLE AND SAMSUNG POSITIONS:
WE HAVE A SMALL LONG POSITION IN OUR HEDGE FUND. WE HAVE A POSITION IN TWO COMPANIES, SAMSUNG AND APPLE. AND WE HAVE THEM AGAINST – I THINK IT'S FAIR TO SAY, PRETTY GOOD SIZED SHORT POSITIONS. THAT WAS A GREAT TRADE UNTIL THE FALL OF LAST YEAR. IT'S BEEN A PRETTY BAD TRADE SO FAR IN THE FALL, SPRING OF THIS YEAR. BUT I DON'T THINK REALLY FUNDAMENTALS ARE CHANGING A LOT. I THINK APPLE HAS GOT ITS OWN ISSUES. BUT, BOY, OH, BOY, THE PC BUSINESS IS FALLING APART FAST.

CHANOS ON PCs:
THE REAL STRUCTURAL ISSUES HERE ARE THESE COMPANIES ARE BEHIND THE EIGHT-BALL. PC SALES, WHICH WERE REALLY FLAT LAST YEAR AND LAPTOP SALES, HAVE NOW FINALLY BEGUN THEIR DECLINE SO. SO A DIFFICULT SITUATION A YEAR AGO WITH MORE COMPETITORS WITH ACER, LENVO IS EXACERBATED BY THE MARKET ITSELF ROLLING OVER.

CHANOS ON NATURAL GAS:
I THINK THAT YOU COULD LOOK AT ANY OF THE PLAYERS IN THE SPACE, THE NAT GAS DOMESTIC SPACE, THAT ARE LEVERAGED, THAT WERE BUYERS OF PROPERTIES WHEN GAS WAS 6 TO $10, THEY COULDN'T GET ENOUGH. AND NOW DO THEIR CAPITAL STRUCTURES AND ONGOING COMMITMENTS TO KEEP DRILLING AND WE TALKED ABOUT THIS. ARE BEING FORCED TO SELL PROPERTIES. AND I THINK THAT'S ACTUALLY HAVING AN IMPACT ON THE COMMODITY, AS WELL. SO YOU WERE BUYERS AT 6 TO 8, SELLERS AT 2 TO 4. AND THE DEBT ISN'T GOING DOWN. THAT'S A REALLY LETHAL COMBINATION.


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