Chanos: Caterpillar ‘Alpha Destroyer’, Has Accounting Issues

Caterpillar Inc. (NYSE:CAT), subsidiary of Dow, has taken a major hit after renowned short-seller Jim Chanos named the company his top short pick at the Delivering Alpha conference taking place today. Chanos is the founder and managing partner of Kynikos Associates, an investment firm that makes its money exclusively by short-selling companies. What Chanos Thinks In his talk, Chanos said that he thinks the current commodity super-cycle is drawing to an end as China and other developing economies finally cool down after more than a decade of incredible growth. As those economies slow, global mining will ‘return to the mean’…