Jim Chanos, a well-known short seller and Tesla bear, is winding down his hedge funds after nearly 40 years due to challenges in capitalizing on bearish bets in a rising market. Chanos & Co. manages under $200 million, down from $6 billion in 2008, and has seen a 4% dip this year compared to the S&P 500's 19% rise. Tesla Inc's shares have surged by approximately 90% this year. Chanos plans to return most investor funds by year-end and pivot to advisory and research services.