Short Seller Jim Chanos Shuts Hedge Funds After 38-Year Run

(Bloomberg) — Jim Chanos, the legendary short seller known for his bearish bets against Enron and Tesla Inc., is shuttering his hedge funds after almost four decades.

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Chanos & Co., which he founded as Kynikos Associates in 1985, plans to return most capital to investors by the end of the year, according to a letter to clients Friday.

“It is no secret that the long/short equity business model has come under pressure and interest in fundamental stock pickers has…