Chanos Says Hewlett-Packard Is The Ultimate Value Trap For Investors

Kynikos Associates' Jim Chanos just told the audience at the Delivering Alpha conference that Hewlett-Packard (NYSE: HPQ) is the ultimate value trap.

Chanos says Hewlett-Packard is destroying value through all its acquisitions among other things. Chanos was turned onto Hewlett-Packard after it paid a high premium for Autonomy. Chanos says a growth by acquisition strategy can be very dangerous.

Chanos did not give a price target, but he says Hewlett-Packard is in a declining business, it actually reminds him of one of his more famous shorts, Kodak.