Jim Chanos Stays Away From Expert Networks Like the Plague

Jim Chanos, founder of Kynikos Associates, says as general rule he stays away from expert networks.

” If someone has fiduciary responsibility , an employee, and even an ex-employee with ties to the company,  a lawyer working for a company, an accountant working for a company, you’re on shaky ground, legally”, he said in a Bloomberg Television interview yesterday. “And that’s what we were increasingly uncomfortable with with the expert networks.

Jim Chanos on china map

Insider Monkey, your source for free insider trading data, wonders why the Feds didn’t go after the executives of Primary Global Research. Or, why were those who were arrested on insider trading charges yesterday on the consultant side and not on the hedge fund side? Two of them, Walter Shimoon and Manosha Karunatilaka, sold their souls for around $22K and $35K, respectively, over a two year period. Either they were making pennies on the dollar working as Sr. Director of Business Development and Account Manager or, they didn’t realize what they were doing.  Or maybe Shimoon got arrested over such a small return because it involved divulging information about Apple. We all know what the police did to a certain reporter after he checked out a lost but unreleased iPhone.

It makes us think about a doctor by the name of Daniel Carlet. He was seduced by Wyeth Pharmaceuticals years ago to give his honest opinions about one of their drugs to other medical professionals and patients. Slowly but surely, Dr. Carlet was lavished with rewards while being passively intimidated into putting an overall positive spin on the drug. His cautionary tale can be found here.

Preet- we’d be happier if the hedge fund managers were the ones behind bars. We hope you didn’t arrange a deal with them to get to the little guys. Reminder – you are not rooting out corporate corruption when you focus on the account and supply manager-peddlers. Calls made to the US Attorney’s and FBI offices weren’t immediately returned.

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

7 Most Expensive Cities in the World

5 Least Expensive Cities in the World

10 Celebrities Who Believe In Scientology

10 High Margin Food Products to Build a Business Around

The 10 Most Expensive Clothing Stores in the United States to Get Decked Out At

The 5 Biggest Kickstarter Scams That Swindled Backers’ Donations

The 10 Most Expensive Boarding Schools In the World

50 Crazy Facts About Japan You Won’t Believe

Top 10 Least Expensive Hybrid Cars to Save the Planet With

The 10 Biggest ‘Gate’ Controversies in History

The 10 States with the Highest Nursing Shortages Leaving Their Hospitals Depleted

The 10 Best Value Investment Blogs that Every Investor Must Read

The 6 Cheapest Boarding Schools in Europe 2015

The 5 Most Expensive Cars To Insure in the World

The 10 Most Common Genetically Modified Foods

10 Self-Made Billionaires Who Came From Nothing

The 10 Most Expensive Cities to Live in North America

The 13 Most Expensive Headphones in the World to Represent

The Top 20 Wealthiest Soccer Teams in 2014

4 BuzzWorthy Cannabis Stocks And Some Smoking Derivative Plays

The 10 Healthiest Fast Food Chains in America to Dine At

The 5 Most Expensive Cat Food Brands You Can Spoil Your Kitty With

The 6 Best eCommerce Platforms for Small Businesses

The 10 Worst Mistakes an Entrepreneur Can Make

The 5 Most OP Characters in League of Legends to Carry Games and Crush Foes With

The 5 Best Foods to Eat Before Running that Will Help You Pound the Pavement

10 Glaring Plot Holes in The Walking Dead that a Zombie-Filled Bus Could Drive Through

The 5 Biggest Celebrity Stoners Who Love Their Reefer

The 10 Most Overrated Movies Of All Time by Out-of-Touch Critics

Top 6 Least Expensive Cruise Destinations For 2015 that Will Take You to Paradise

10 States with Lowest Substance Abuse Rates in America

The 14 Most Watched TV Finales Ever

The 10 Best Selling Role Playing Games of All Time for PC

10 Most Influential Papers In Economics

Top 8 Biggest Charities in the US

10 Worst Celebrity Career Moves Ever

Top 10 Best Paid Tennis Stars in the World

Top 6 Cities For The Ultra Rich to Live in Comfort

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

How to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

10 Best Places to Visit in Central and South America

The 10 Greatest Empires in History Which Nearly Conquered the World

The 6 Cheapest Boarding Schools In America 2015

5 Clear Reasons LoL is Better than DotA, Continues to Rule MOBAs

The Only 9 Teams with a Chance to Win the Super Bowl

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!