Jim Chanos & Bethany McLean on Lessons from Enron, Financial Fraud Throughout History, and the Fall of FTX, SVB & Wirecard | #479

The Meb Faber Show - Better Investing

The Idea Farm

Business, Investing, Management

4.7 • 938 Ratings

🗓️ 6 May 2023

⏱️ 73 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Today’s guests are Jim Chanos, famed short-seller and founder of Kynikos Associates, and Bethany McLean, contributing editor at Vanity Fair and the author of multiple books, including The Smartest Guys in the Room: The Amazing Rise and Scandalous Fall of Enron. In today’s episode, Jim & Bethany cover all aspects of fraud. They share where we are in both the financial cycle and the fraud cycle, why we continue to see frauds since they first connected about Enron over 20 years ago, and the thin line between a visionary and a fraudster. We discuss the anti-short seller rhetoric that pops up every few months, the impact of social media on the rise and fall of companies, and the impact of stock-based compensation and adjusted earnings. As we wind down, Jim shares his concerns about the commercial real estate sector, and Bethany gives a preview of her book releasing this October. ----- Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Today’s episode is sponsored by Farmland LP. Farmland LP is one of the largest investment funds in the US focused on converting chemical-based conventional farmland to organic, sustainably-managed farmland using a value-add commercial real estate strategy in the agriculture sector. Since 2009, they have built a 15,000-acre portfolio representing over $200M in AUM. Today’s episode is sponsored by The Idea Farm. The Idea Farm gives you access to over $100,000 worth of investing research, the kind usually read by only the world’s largest institutions, funds, and money managers. Subscribe for free here. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	Welcome to the Mebb Favor Show, where the focus is on helping you grow and preserve your wealth.
0:11.0	Join us as we discuss the craft of investing and
0:13.5	uncover new and profitable ideas all to help you grow wealthier and wiser. Better
0:17.4	investing starts here.
0:19.4	Meeth Faber is the co-founder and chief investment officer at Cambria Investment Management.
0:23.4	Didn't industry regulations, he will not discuss any of Cambry's funds on this podcast.
0:27.2	All opinions expressed by podcast participants are solely their own opinions and do not reflect the
0:30.8	opinion of Cambria Investment Management or its affiliates.
0:33.4	For more information, visit Cambria Investments.com.
0:39.7	Welcome my friends, we have a truly special show for you today our guests are Jim
0:44.1	Chenos Hall of Fame shortseller and generally one of the nicest guys around also
0:49.0	happens to have an encyclopedic knowledge of market history and Bethany McClain contributing editor at Vanity Fair and the author of multiple books
0:56.9	including the smartest guys in the room the amazing rise in scandalous fall of Enron. In today's episode, Jim and Bethany cover all aspects of fraud.
1:06.4	They share where we are in both the financial cycle and the fraud cycle.
1:10.0	Why we continue to see fraud since they first connected about Enron over 20 years ago
1:15.0	and the thin line between a visionary and a fraudster.
1:18.6	We discuss the anti-shortseller rhetoric that pops up all the time in media, the impact of social media on the rise and fall of companies, and the trends in stock-based compensation, and how companies try to hide them with adjusted earnings.
1:32.0	As we wind down, Jim shares his concerns about the commercial real estate
1:35.4	sector and Bethany gives us a preview of her new book releasing this October.
1:41.1	This episode is brought to you by 10 East.
1:43.0	Long time listeners know I've invested in private markets quite a bit myself,
1:47.0	but with access to these markets broadening, it can be hard to know where to find vetted high quality offerings. That's where Ten East comes in.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from The Idea Farm, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of The Idea Farm and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.