“We're closer to a '99-type moment than a '97 — the year before the dot-com crash, not the one where the party still had years to run. One signal has been foolproof at marking the late stage of a bubble: a flood of companies selling new stock, and in 2026 Wall Street's printing press is running 'full bore.' [Chanos's roughly 40-name short book includes Tesla and SpaceX.]”
Said Jul 31, 2026Deadline Jul 31, 2027Prof G Markets podcast, July 31, 2026, as reported by Benzinga
Chanos pointed to SpaceX's record IPO as evidence the late-cycle equity-issuance wave has arrived; a '99 analogy implies a market peak within roughly a year of the statement.