Alphachatterbox is available on Acast, iTunes, and Stitcher.
Many people like it when stocks go up, and feel bad when prices go down.
Pension plans look healthier in bull markets. Dealmakers have more work to do when rich valuations encourage executives to go on buying sprees. Brokerage houses get more fees when amateur punters decide they need to own more shares. Corporate bosses get paid extra for hitting shareholder return targets. Politicians enjoy the boost to tax revenues and the (implied) vindication of their terms in office. Central bankers are glad to see traders betting on stable growth.
But markets arent supposed to make us feel good theyre supposed to help us allocate finite resources towards their best uses. In a dy…
Read the full article at: http://ftalphaville.ft.com/2016/04/25/2160002/podcast-jim-chanos-on-the-art-of-short-selling/