I don't have a source for this on hand, but I've read that Kynikos' Associates' average annual performance is negative. Since they're net short equities, that's

I don't have a source for this on hand, but I've read that Kynikos' Associates' average annual performance is negative. Since they're net short equities, that's quite an accomplishment (it means that if, for example, you made leveraged investments in an index fund, and additional leveraged investments in Kynikos, you could end up with a higher annual return with lower risk). But keep that in mind. The average result of a Chanos bet is that the entity in question goes up less than the rest of the market, not that it goes down.