Legendary Short Seller: Fraud Is Hiding Behind Record Highs

Today on Prof G Markets, Ed Elson and Scott Galloway are joined by Jim Chanos to discuss the biggest risks he sees in today's AI-driven market and the warning signs that remind him of the late stages of the dot-com bubble. He also breaks down the companies he's long and short on, explains why he's increasingly concerned about fraud in the market, and shares the advice he'd give to young investors navigating today's environment. Jim Chanos is the Founder and Managing Partner of Chanos & Company, formally known as Kynikos Associates, the world’s oldest exclusive short selling investment firm. Subscribe to the Prof G Markets newsletter: https://links.profgmedia.com/markets-... Order Notes On Being A Man now! https://amzn.to/4nl4VKo Timestamps: 00:00 Preview 00:37 Today's number 00:55 Today's episode 04:03 Interview with Jim Chanos 05:12 Is this market in a bubble and if so, is it going to pop? 11:24 Could you speak more to this expensing problem? 14:40 Is there a way to tell if we’re in ‘97 or ‘99? 19:19 Are the hyperscalers or the AI adjacents more vulnerable? 24:22 Ad break 25:51 Do you see Google, Microsoft, Amazon, and Meta as insulated, or just as exposed as everyone else? 29:12 Why hasn’t that conversation happened yet and do you think it will happen soon? 30:58 Do you think some parts of the market have already priced this in while others haven’t? 32:36 Is that discernment showing up more in the bond market or the stock market? 34:24 Are the best short opportunities in overlooked stocks rather than the obvious ones? 37:26 How does Jim Chanos go short in what you think is the most thoughtful, risk adjusted way? 41:19 Have you changed over time or is the perception of you being a maverick a little bit outdated? 43:32 Could you share some of the names that you’re short on? 44:50 Ad break 45:10 How do you think about that issue, and is timing the key? 47:48 If someone agrees with your AI concerns, how should they invest? 49:54 Does investing in the S&P hold more risk than it did before? 51:29 What is your media strategy around your favorite shorts? 56:13 Is that indicative of a larger problem that could bring the markets down? 58:34 How do you spot BS, and what investing advice would you give young people? 01:01:15 Break 01:01:25 Conclusions 01:04:43 Credits Follow Scott on Instagram:   / profgalloway   Follow Ed on Instagram, X and Substack:   / ed_elson_     / edels0n   https://substack.com/@edwardelson Subscribe to Prof G Markets on Spotify: https://links.profgmedia.com/markets-... Got a question for Prof G? Get answers on TikTok: https://links.profgmedia.com/tiktok Want more Prof G? Check out everything we're up to at: https://links.profgmedia.com/home Send us your questions or comments by emailing Markets@profgmedia.com Note: We may earn revenue from some of the links we provide. #business #news #tech #financemotivation #stockmarket #profg #scottgalloway #edelson #profgmarkets #ai #earnings #stocks #inflation #investmentstrategies #investment #investing #gdp #tariffs #2026