Feb 18, 2018

Jim Grant asks Jim Chanos, "Is this moment the craziest juncture in finance that you have seen?”

Jim Grant: Is this moment, considering all things, the craziest juncture in finance that you have seen?

Jim Chanos: I would say broadly yes, only because other times that we have sort of deemed the market to be "crazy," often it was in a narrow area or it was in a specific large group of businesses or stocks, and now in 2018 we are looking at a kind of global craziness, and we're looking at it broadly.  That there's debt buildup, speculation in a variety of areas, you've got low returns in lots of businesses that is being financially engineered by share buybacks and a variety of other things to prop up the businesses.  And so, yah, I think this is much broader than 1999 or '87, or 2007 even.

~ Jim Grant interview of Jim Chanos, RealVision.com, February 10, 2018

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