Kynikos Survives Philadelphia Pension Fund Review On Three "Fraud" Stocks

Pension fund board meeting notes how being a short seller like Kynikos in a stimulus filled market environment can be challenging After generally difficult performance over the past 2 ½ years, Jim Chanos and his short selling Kynikos Opportunity Fund fund where recently the focus on review by the Philadelphia pensions investment committee meeting.   In 2011 the pension fund began a process seeking strategies “that could provide a level of protection for the Plan during times of market stress,” the minutes of a recent pension fund board meeting revealed.  A separate “Independence Fund” for noncorrelated investments was created that…