Short seller Jim Chanos to close hedge funds, WSJ reports

After nearly four decades, Jim Chanos is closing hedge funds he manages that bet against companies he believes are overpriced or fraudulent, the Wall Street Journal’s Gregory Zuckerman and Peter Rudegeair report. His career as a short seller spanned a contrarian bet against Enron that paid off when the energy trader collapsed as well as years long, money-losing campaigns against Tesla (TSLA) and AOL. “The marketplace for what I do has changed,” Chanos told The Wall Street Journal. He expects to return most of his investors’ cash by December 31.