Chanos offers a few pointers for the average retail investor including: don't try to trade like a hedge fund.
"The deck is stacked against retail investors selling short on their own. I don't think it is generally a good policy," he says. "Just sell down your stocks to sleep at night."
Additionally, he warns investors not to follow his words too closely.
"It is very misleading for investors to follow hedge fund investors particularly if they have a big short book," he says.