Chanos Talks Down Sothebys As He Considers Fed Bubble

Is a clash of hedge fund titans Daniel Loeb and Jim Chanos in the works? In a highly public fashion, Loeb’s Third Point, founded in 1995 and managing $14 billion in assets, acquired a 9.6% stake in the firm and is engaged in what is becoming a rather aggressive takeover battle. Sothebys poster child for QE welfare for the rich: Chanos Yesterday, in a wide ranging interview on CNBC, Chanos, after insightfully questioning when the US Federal Reserve started propping up the stock market, began to unravel the Sotheby’s trade, pointing to a potential market bubble. Chanos points out that the…