Chanos was on CNBC today telling the world that he is shorting Coinstar (cstr). Coinstar blew away their earnings estimates, and they have raised guidance for the year. Jim Chanos is going to get his a!! handed to him on CSTR this year, and I truly believe GME is going to ruin his year as well. I'm sure he picks a lot of winning shorts, but CSTR and GME aren't two of them.
No. That was a scheduled earnings release. But again, pretty ironic that Chanos chose to speak about his short position on the same day as earnings. Must have been hoping for some bad results or bad guidance and clearly did not get them.
That was quite ironic, but rest assured, I doubt he was short for the earnings report, or other short term event, and he is probably hedged as well. Whitney Tilson was short NFLX for much of the ride up, and while it looked pretty bad, he was right in the end, even if timing was off.
As long as his timing is off by 12 months or more I will be happy. I don't invest for longer than 12 months unless I stumble onto the next apple, which hasn't happened yet. For him to suggest that video downloads online would ruin the RedBox business of coinstar, he has to be thinking long term. Same thing here with the idea that game makers will bypass the middle man. It may happen eventually, but it won't happen this year, and probably not next year either.