Bullish On Cisco (CSCO): Chanos Tells CNBC

James Chanos, famous contrarian investor and owner of hedge fund Kynikos Associates, shared his investment thoughts with CNBC.

He likes Cisco (NASDAQ: CSCO) and said that the company accurately forecasted the extent of technology upgrades. He praised Cisco CEO John Chambers for his foresight.

On being asked about China, he said that he is waiting for the China bubble to explode. He explained that China has problems in construction as well as in the banking sector. He also expressed his skepticism about the Greece debt crisis and said that Greece does not seem to be ready to accept its problems.