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Forum List » Guru News and Commentaries Guru News, Stock picks and commentaries  
Jim Chanos: HP Was "Willfully Blind" on Autonomy Deal
Posted by: Dheeraj Grover
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Date: November 21, 2012 11:47AM
Well-known short-seller and hedge fund manager Jim Chanos of Kynikos Associates LP was on CNBC to share his views after Hewlett Packard (HPQ) announced a write down of $8 billion on the Autonomy deal. -- HP was "willfully blind" and ignored all the red flags regarding Autonomy's aggressive accounting tactics. -- HP did not do any due diligence on the deal and was in a hurry to close the deal. -- This whole HP/Autonomy situation is a debacle. -- Jim is still short on HPQ and thinks that HPQ's board need to do some serious reexamining. -- HPQ is still struggling among all lines of its businesses and on top of it has a lot of debt. -- Until they have mobility or tablet strategy HPQ is going to struggle. Credit and source: www.cnbc.com, CNBC Here is the video:
Re Jim Chanos HP Was Willfully Blind on Autonomy Deal
Posted by: superguru
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Date: November 21, 2012 09:04PM
On hpq it was chanos versus value gurus. And chanos is winning.
Re Jim Chanos HP Was Willfully Blind on Autonomy Deal
Posted by: sapporosteve
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Date: November 21, 2012 09:38PM
Shouldn't some value investing gurus be having a revisit of their investment thesis and process where they missed something like this? Klarman is famous for the margin of safety and his continuous speaking of not losing money which to me indicates that they would be super thorough before putting any money down. Taking a hit on $250 million must hurt.
Re Jim Chanos HP Was Willfully Blind on Autonomy Deal
Posted by: superguru
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Date: November 22, 2012 05:31PM
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