7. "If it was a bottom, it would be the most expensive bottom probably in modern financial history. Most bear markets have basically bottomed out somewhere between nine and 15 times the previous peaks of earnings. If we think that earnings are peaking right now, nine to 15 times would be 1,800 to 3,000, 3,100 on the S&P. We're a long way away from that." (Chanos' comments suggest the S&P 500 could fall as much as 55% from its current level of about 4,000 points.)
Short seller Jim Chanos blasts crypto, warns the S&P 500 may plunge 55%, and predicts Tesla's growth will slow in a new interview. Here are the 10 best quotes.
https://markets.businessinsider.com/new ... sk-2022-11