About this Video

• Video Title: Steve Cohen: Stocks could retest their April lows, see 45% chance of a recession
• Channel: CNBC Television
• Speakers: Steve Cohen, Jim Chanos, (Other speakers are unnamed)
• Duration: 00:03:12

Introduction

This CNBC video discusses comments made by billionaire investor Steve Cohen at an investment conference in New York. Cohen expressed concern about the stock market potentially retesting its April lows and assigned a 45% probability to a US recession. The video also includes commentary from Jim Chanos, a known Tesla bear, who shared his perspectives on the market and specific companies.

Key Takeaways

• Steve Cohen's Market Outlook: Cohen believes stocks could retest their April lows and there's a 45% chance of a US recession. He doesn't view this as a complete disaster, however.
• Market Rally: The video notes that despite significant market drops, there have been instances of surprisingly quick rallies, with the pandemic being referenced as a possible parallel.
• Jim Chanos's Views: Jim Chanos, a long-time Tesla bear, discussed his short position on Tesla, citing declining earnings and revenue despite a high valuation driven by investor speculation on future technologies (robotaxis, etc.). He also commented on Elon Musk's Doge effort and government savings.
• Other Experts' Opinions: The video mentions that other notable investors, including Ken Griffin, share similar cautionary views on the market's potential to retest its lows.
• Overall Sentiment: The overall tone suggests a degree of market uncertainty and concern among prominent investors regarding the possibility of a recession and potential stock market declines.