Fortune, Mar 15, 2016

choi

(1) The CEO vs The Chairman; Inside a epic boardroom showdown. (under the heading Book Excerpt)
http://fortune.com/2016/03/15/bo ... good-for-the-money/
(the book is: Bob Benmosche with Peter Marks and Valerie Hendy, Good for the Money; My fight to pay back America. Manhattan: St Martin's Press, April 2016)

(2) Michelle Celarier, The Return of Big Shorts. The recent market correction has made some bearish investors look like geniuses. But others learning that even short selles need a good long game. (under the heading Invest: Shorting Stock)
http://fortune.com/tag/short-selling/?iid=sr-link3

My comment:
(a) The title is a wordplay on "big shots."  The subtitle "long" is a double entendre: "long" in time and as an investment term (antonym of short).
(b) The report concerns several short sellers, splashing ink about James Chanos mainly. Read ONLY the first three paragraphs, and search the report with "Chinese," which appears four times. That is all you need to read.
(c) "In 2015, Chanos's short-only fund, called Ursus (Latin for 'bear”), was up 10%, trouncing the S&P 500." Paragraph 2

You may be forgiven for thinking that Mr Chanos has done a marvelous job, After all, every now and then he has been quoted about China. But do view the only graphic of this report, and you will be alarmed that while it is true Ursus has increased 10% since the beginning of 2016, the uptick is a drop compared with the loss between 2008/2009 (in the depth of Great Recession) to the end of 2015, Ursus lost 2/3 of its value. Mr Chanos track record is terrible, though another fund of Chanos's (Global Capital Partners) seems doing pretty well (then again, information is lacking about the relative sizes of the two funds).