Kynikos’ Chanos Says he is Shorting Continental Resources

(Reuters) Kynikos Associates LP founder James Chanos on Tuesday said he is betting against Continental Resources Inc and other oil and gas exploration and production companies. Chanos, a closely-watched investor, said the company struggles to generate cash even in favorable market environments. Speaking at the CNBC Institutional Investor Delivering Alpha Conference in New York, Chanos said Continental Resources’ compensation incentives are structured to reward management for growth, not returns.

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