its value in the last five years from $6 billion to $2.5 billion, compelling Chanos to pitch "a new fund to investors that will take a portfolio of long positions and overlay the firm’s traditional short portfolio". 2020 was an especially terrible year for Chanos and other short sellers according to Institutional Investor, calling their firms "a shadow of their former selves." The magazine noted Kynikos ended 2020 with a mere $405 million in assets, compared to $2 billion in 2018. Investments Correct bet on Enron collapse Chanos gained notability as a short seller when he predicted the fall of Enron before it filed for bankruptcy in 2001; he was a short seller of Enron throughout 2001, increasing his short position as more information surfaced. Kynikos profited from the trade. Prediction on Chinese real estate crash Chanos is a long-time skeptic of the Chinese economy. In September 2009 on CNBC Chanos said the Chinese miracle economy was "getting harder and harder to believe", predicting the country would head the way of the "old Soviet Union". In January 2010, the New York Times referenced Chanos making a prediction of an impending Chinese economic crash that would resemble "Dubai times 1,000 — or worse". Later on the Charlie Rose Show in April 2010 he maintained that China was on a "treadmill to hell" that would result in a crash caused by a "world class" property bubble. The Chinese real estate crash predicted in 2009 and 2010 did not materialize and has caused financial media to question his investment wisdom. Bloomberg in a December 2017 article noted "Chanos has made wayward bets against U.S. stocks and China recently". The Financial Times in an October 2017 article used his "Dubai times 1,000" quote an example of one of the "dire prophecies" about China's real estate market that did not come true, demonstrating the subject was "tricky for foreign investors and experts to grasp". The Economist in a January 2021 article on the Chinese property boom observed housing prices doubled and "enough homes have been built for 250m people" since Chanos likened Chinese real estate to "Dubai on steroids". According to the Economist, the failure of the prediction of a crash suggested the market is "more complex than its depiction as a bubble." In a September 2021 New York Times article on the 2020–2022 Chinese property sector crisis, it was noted "...Jim Chanos, a prominent