GO
Loading...

Short-seller Chanos bearish on coal, oil

Tuesday, 19 Nov 2013 | 11:13 AM ET
Jim Chanos, president and founder of Kynikos Associates.
Adam Jeffery | CNBC
Jim Chanos, president and founder of Kynikos Associates.

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.

—By Reuters

  Price   Change %Change
XOM
---
CAT
---

Featured

  • Pump jacks and wells are seen in an oil field on the Monterey Shale formation where gas and oil extraction using hydraulic fracturing, or fracking, is on the verge of a boom, March 23, 2014 near McKittrick, California.

    Brent crude futures turned lower after Russia said top diplomats have agreed to take immediate steps toward calming tensions in Ukraine.

  • An employee wipes a TV screen in a shop in Moscow, on April 17, 2014, during the broadcast of President Vladimir Putin's televised question and answer session with the nation.

    Russian President Vladimir Putin warned of possible disruption to Europe's gas supply on Thursday, as the U.S. confirmed it would send additional military support to Ukraine.

  • A former BP employee will pay to settle allegations of insider-trading during the 2010 Deepwater Horizon oil spill.

  • Pro-Russian activists seized the main administration building in the eastern Ukrainian city of Donetsk.

    Deadly clashes in eastern Ukraine have spiked fears of all-out war in the region. So who are the armed, flag-waving rebels who appear to be behind it all?

Contact Energy

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    › Learn More