Legendary guru Jim Chanos (Trades, Portfolio) was born and raised in a Greek family in Milwaukee, Wisconsin. Chanos graduated from Yale and worked in Chicago as an investment banker at Blyth, Eastman Dillon & Co. Then in 1982, Chanos joined a small brokerage retail firm called Gilford Securities. It was there that Chanos stumbled across his first short selling idea, which was Baldwin United.
Baldwin United was known as the Baldwin Piano Company that later became a financial services company, until it was determined fraudulent. It was then that Chanos discovered that there was opportunity in short selling, and in the fall of 1985 he founded his investment firm Kynikos Associates LP. The firm was named after an ancient group of Greek philosophers who lived outside of Athens during the Golden Era. They believed that self discipline and independence of thought was the true way to democracy. Continue Reading »