“Big Short” hedge fund manager Michael Burry, known for predicting the collapse of the 2007 housing market, has just started an important portfolio shakeuup.
New SEC files from Burry’s Scion Asset Management show The company has taken a substantial bearish attitude against NVIDIA (NVDA) and opening a large position in PUT options against the stock of the chip maker.
Scion also has his rather bullish view on Chinese shares.
The fund acquired Beararigh to large Chinese companies, including Alibaba (Baba) and Baidu (Bidu).
And here is the Twist-Scion’s only remaining long position in New York-based Estee Lauder (EL), a bet on the potential recovery of the cosmetics giant.
This lonely bullish attitude underlines the cautious approach to Burry on the market, where the make -up industry is often resilient for recession.
This is the second time in recent years that Burry has turned off the portfolio of Scion.
In 2023, Burry drastically reduced the importance of Scion, only to admit that he was wrong later while placing new, targeted bets.
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