Big Short’s Michael Burry Abruptly Sells Everything – Except for One ‘Recession-Proof’ Asset
“Huge Quick” hedge fund supervisor Michael Burry, recognized for predicting the 2007 collapse of the housing market, simply initiated a serious portfolio shakeup.
New SEC filings from Burry’s Scion Asset Administration show the agency has taken a considerable bearish stance in opposition to Nvidia (NVDA), opening a big place in put choices in opposition to the chipmaker’s inventory.
Scion has additionally reversed its beforehand bullish outlook on Chinese language equities.
The fund acquired bearish put choices on main Chinese language firms, together with Alibaba (BABA) and Baidu (BIDU).
And right here’s the twist – Scion’s solely remaining lengthy place is in New York-based Estee Lauder (EL), a wager on the cosmetics large’s potential restoration.
This solitary bullish stance underscores Burry’s cautious strategy in the marketplace, with the make-up trade usually believed to be resilient to recession.
That is the second time in recent times that Burry has gutted Scion’s portfolio.
In 2023, Burry drastically decreased Scion’s holdings, solely to later admit he was flawed whereas inserting new, focused bets.
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