Michael Burry predicting a fall by end of year...17 Aug 2023 13:59
... anyone who's see The Big Short will know who Michael Burry is.
And he's using 90% of his companies (Scion Asset Management) portfolio to do so:
"Michael Burry, the Wall Street trader who predicted America’s subprime mortgage crisis in the 2000s, the spark which ignited a global financial meltdown, has made a bet against the S&P 500 and Nasdaq 100 stock indices, according to filings with the Securities and Exchange Commission, the American financial regulator.
Mr Burry’s firm, Scion Asset Management, has bought $866m in “put options” against a fund that tracks the S&P 500, the American benchmark index. These give investors the right to sell shares at a fixed price in the future and means that he could make a profit if shares fall.
The firm has also bought $739m in bets against a fund that tracks the Nasdaq 100, which follows some of America’s largest technology companies. "
- Telegraph 17 August 2023