“Big Short” hedge fund manager Michael Burry, known for predicting the 2007 collapse of the housing market, just initiated a major portfolio shakeup.

New SEC filings from Burry’s Scion Asset Management show the firm has taken a substantial bearish stance against Nvidia (NVDA), opening a large position in put options against the chipmaker’s stock.

Scion has also reversed its previously bullish outlook on Chinese equities.

The fund acquired bearish put options on major Chinese companies, including Alibaba (BABA) and Baidu (BIDU).

And here’s the twist – Scion’s only remaining long position is in New York-based Estee Lauder (EL), a bet on the cosmetics giant’s potential recovery.

This solitary bullish stance underscores Burry’s cautious approach on the market, with the makeup industry often believed to be resilient to recession.

This is the second time in recent years that Burry has gutted Scion’s portfolio.

In 2023, Burry drastically reduced Scion’s holdings, only to later admit he was wrong while placing new, targeted bets.

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

The post Big Short’s Michael Burry Abruptly Sells Everything – Except for One ‘Recession-Proof’ Asset appeared first on The Daily Hodl.

“Big Short” hedge fund manager Michael Burry, known for predicting the 2007 collapse of the housing market, just initiated a major portfolio shakeup.

New SEC filings from Burry’s Scion Asset Management show the firm has taken a substantial bearish stance against Nvidia (NVDA), opening a large position in put options against the chipmaker’s stock.

Scion has also reversed its previously bullish outlook on Chinese equities.

The fund acquired bearish put options on major Chinese companies, including Alibaba (BABA) and Baidu (BIDU).

And here’s the twist – Scion’s only remaining long position is in New York-based Estee Lauder (EL), a bet on the cosmetics giant’s potential recovery.

This solitary bullish stance underscores Burry’s cautious approach on the market, with the makeup industry often believed to be resilient to recession.

This is the second time in recent years that Burry has gutted Scion’s portfolio.

In 2023, Burry drastically reduced Scion’s holdings, only to later admit he was wrong while placing new, targeted bets.

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

The post Big Short’s Michael Burry Abruptly Sells Everything – Except for One ‘Recession-Proof’ Asset appeared first on The Daily Hodl.