Hedge fund manager who made name shorting Enron dies


Sad to report.

Bloomberg News reports that Douglas Millett, a portfolio manager who shorted stocks with James Chanos at Kynikos Associates and helped expose the hollow underpinnings of Enron Corp. before its collapse, has died. He was 49.

He died on September 21 at Calvary Hospital Hospice in the Bronx, New York, according to his brother, Mike Millett. The cause was adenoid cystic carcinoma, a cancer of the salivary glands, which was diagnosed in May 2012. He lived in Armonk, New York, with his wife and two sons.

Millett's 10 years at Kynikos, the New York-based investment company, immersed him in short-selling, or betting that shares of a given company will fall. Chanos is regarded among the best in that field, in part because of his early and accurate public doubts about Enron, a Houston-based energy company, before its fraudulent accounting was exposed and it plunged into bankruptcy in December 2001.

Hit the link below to access the complete Bloomberg News article:

Douglas Millett, Who Helped Chanos Bet Against Enron, Dies at 49

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