Fabled hedge fund short seller Jim Chanos saw blood on the street in Brazil before the news hit the mainstream. Then as Brazil was in the process of being declared a financial mess two months ago, Chanos eyed his many short investments in the country and laughed all the way to the bank when the country’s stock market went on a two month slide, down near 20 percent. News two days ago of left-leaning Brazilian president Dilma Rousseff election victory, putting him back in power, might have put the icing on the cake, as the leftist’s victory was greeted with another quick…
As Brazilian Stocks Tank, Chanos Covers Shorts
Mark Melin
Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.