James Chanos, founder and president of Kynikos Associates LP, speaks during the 21st annual Sohn Investment Conference in New York, U.S., on Wednesday, May 4, 2015. Since 1996 the Sohn Investment Conference has brought together the world’s savviest investors to share fresh insights and strategies in support of pediatric cancer research and treatment. Photographer: Michael Nagle/Bloomberg *** Local Caption *** James Chanos
Michael Nagle/Bloomberg
| James Chanos, Kynikos Associates (Bloomberg) |
The stock market’s third-quarter surge helped many long-short equity fund managers return to positive territory for the year, thanks in large part to their long books. But most of these same long-short managers are being dragged down by their short books.
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