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▶ 33:15 · $VRX · Chanos details Valiant's pro-forma accounting fraud as business model exploiting SEC rules
episode briefing
Generating Alpha Podcast

Episode 29: Jim Chanos - Founder of Kynikos Associates

2025-07-31 · 2 company · 3 thematic
sentiment
0 bull2 bear0 neu
speakers
jim chanos

Legendary short seller and fraud detector who famously uncovered Enron, Baldwin United, Wirecard, and other major frauds. Teaches a course on the history of financial market fraud and has developed five systematic models for identifying fraud.

quote
“Valiant literally had a business model that took advantage of pro- for accounting you know you have a a very interesting situation on your head.”
—jim chanos
now playing · $VRX
$TSLA···bearish· high· posjim chanos
Chanos reveals Tesla short position trimmed as stock surged 12x in 2020
Chanos held a 3-4% portfolio short position in Tesla during 2020 but was forced to continuously trim as the stock rose 12x, illustrating the asymmetric risk of shorting momentum-d…
$VRX···bearish· highjim chanos
Chanos details Valiant's pro-forma accounting fraud as business model exploiting SEC rules
Valiant grew by acquiring off-patent drugs, booking purchase price as acquired R&D/goodwill, then adding back amortization as 'non-cash' to report pro-forma EPS while GAAP showed…