Hedge fund manager Jim Chanos, the prominent short-seller, said Tuesday he has lightened up on some of his bets against Brazil, saying most of the country's downside risk is priced in after the sharp selloff over the past two months. "Yes, we are still short but we've taken some profits," Chanos said, speaking at a Reuters summit. Brazilian stocks have been hammered over worries about the country's presidential election, which incumbent Dilma Rousseff narrowly won on Sunday. Brazil's benchmark Bovespa stock index has slid more than 18 percent from early September through its close on Monday.
via Business News http://finance.yahoo.com/news/exclusive-chanos-takes-profit-top-175220314.html
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