Short-seller Chanos bearish on coal, oil
Short-seller Jim Chanos said Tuesday it is time for typical equity investors to be "a little more cautious" even as the stock market may continue to rise.
Chanos, speaking the Reuters Global Investment Outlook Summit in New York said his fund Kynikos Associates is "very bearish on coal" and he is "pretty much short'' all the U.S. leveraged coal companies.
Chanos also said he was bearish on national oil companies and the integrated majors like Exxon Mobil which he said are experiencing a "dropping return on capital" that "is really ominous.''
(Read more: Dark side of nat gas boom, according to Chanos)
The famous short-seller said Exxon Mobil and other oil companies like it increasingly look like a "value trap."
He also said investors would be "well warned'' to analyze Caterpillar's financial unit.