Jim Chanos, who oversees $6 billion as the founder and president at Kynikos Associates Ltd., said he’s betting against natural gas stocks and avoiding Treasurys.

The money manager, who rose to fame shorting Enron Corp., said he sees more losses in natural gas producers after the stocks have rebounded. A measure of oil and gas producers in the S&P 500 has rallied 17 percent from a low on June 4.

Chanos said U.S. government bonds may decline as the Federal Reserve starts a third round of asset purchases to boost economic growth.

“You’re taking an awful lot of principal risk for very little reward,” Chanos said about Treasurys in an interview on Bloomberg Television’s “In the Loop” with Betty Liu.