Bubbles are best identified by credit excesses, not valuation excesses. And there's no bigger credit excess than in China. Download Download Share on Facebook Share on Twitter Rotate quotes big bubble china
What we define as a bubble is any kind of debt-fueled asset inflation where the cash flow generated by the asset itself - a rental property, office building, condo - does not cover the debt incurred to buy the asset. So you depend on a greater fool, if you will, to come in and buy at a higher price. James Chanos assetbubblebuild share on social
The Chinese banking system is built on quicksand and that's the one thing a lot of people don't realize. Everybody seems to think it is a free and clear open checkbook. It's not. The banking system in China is extremely fragile. James Chanos bankbuildcheckbook share on social
If you're a short-seller, that's a cacophony of negative reinforcement. You're basically told that you're wrong in every way imaginable every day. It takes a certain type of individual to drown that noise and negative reinforcement out and to remind oneself that their work is accurate and what they're hearing is not. James Chanos accuratebasicallycacophony share on social
My venture investing career has three phases, all roughly 6-8 years long. The first, at Euclid, was software to Internet. The second, at Flatiron, was Internet to bubble. And the third, at USV, has been web 2 to mobile. I have always used a new firm to denote a new investment phase for me. Throw away the old. Start with the new. Fred Wilson bubblecareerdenote share on social
I'm a big action junkie. I grew up on the '80s action movies - the bad ones and the good ones. Jonathan Tropper 80sactionbad Change image and share on social
I wouldn't mind seeing China if I could come back the same day. Philip Larkin backchinaday Change image and share on social