Einhorn vs. Chanos on Seagate Technology

At the Ira Sohn conference yesterday, Jim Gundlach proposed an interesting short idea, and it’s been moving the market today. Chanos said his idea for a short at the moment was the hard drive maker Seagate Technology PLC (NASDAQ:STX). An hour later, David Einhorn, who owns about 2 percent of the company, took to the stage.

Chanos On Seagate Technology:

The rationale for Chanos’ short was clear and concise, and it resounded with investors. Chanos outlined a path for hard drive makers in general, and it was one that led toward chaos and destruction. According to the hedge fund manager, companies like Seagate Technology PLC (NASDAQ:STX) lag...