Giving President Donald Trump credit for the strength of the U.S. stock market is a “stretch,” said hedge fund manager Jim Chanos, a noted short seller.
Equities around the global are experiencing a “synchronized bull market,” he told CNBC Tuesday, in an interview with CNBC from the 2017 Delivering Alpha conference in New York.
To make his case, Chanos asked: Should Trump be given credit for markets — such as Mexico —rallying too?
Chanos, founder and managing partner of Kynikos Associates, is one of the largest short selling investment firms in the world.
Short selling is a form of trading in which traders can bet against a company by selling shares they do not own and buying them back at a lower price.
The bull market has been creating great opportunities for betting against companies, but the up-trend has made it tough, said Chanos, whose shorts include Tesla.
Chanos gained recognition for raising red flags with a prescient negative call on Enron before the energy firm blew up in scandal.