Michael Burry of ‘Big Short’ fame loaded up on Chinese internet stocks

[Pelican Press 0]

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Michael Burry of ‘Big Short’ fame loaded up on ******** internet stocks

Michael Burry, best known for calling the subprime mortgage crisis, reshuffled his investment portfolio last quarter, making ******** internet stocks among his top holdings, according to a new regulatory filing released Wednesday. Burry’s hedge fund, Scion Asset Management, increased its bet on Alibaba in the second quarter, making it his biggest holding, worth more than $11 million. He also hiked his bet on ******** search engine

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to position worth some $6.5 million. Meanwhile, ******** ecommerce platform JD.com remained a big stake for Burry, albeit a somewhat smaller one. Burry shot to fame by ******** against mortgage-backed securities before the 2008 global financial crisis . Burry was depicted in Michael Lewis’ book ” The Big Short ” and the subsequent Oscar-winning movie of the same name. The noted investor had piled into a physical gold trust in the first quarter, making it his biggest bet, but he exited that position entirely by the end of June after owning more than $10 million of the Sprott Physical Gold Trust (PHYS). In the second quarter, Burry built sizable bets on payment processing company Shift4 Payments and managed care firm Molina Healthcare and real estate company Hudson Pacific Properties . He also added small stakes in luxury haircare brand Olaplex and biotech name BioAtla . Money managers with more than $100 million in assets are required to disclose long positions with the Securities and Exchange Commission 45 days after a quarter ends. Active traders such as Burry could have already changed their positions by the time filings come out.

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#Michael #Burry #Big #Short #fame #loaded #******** #internet #stocks

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