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Post by
Gulag2011 on Aug 16, 2023 5:09pm
Michael Burry just bet $1.6 billion on stock market crash
Michael Burry, of ‘Big Short’ fame, just bet $1.6 billion on a stock market crash
Updated 3:11 PM EDT, Wed August 16, 2023
04:05 - Source: CNN
'Big Short' investor Michael Burry bets on Wall Street downturn
New YorkCNN —
Michael Burry, the “Big Short” investor who became famous for correctly predicting the epic collapse of the housing market in 2008, has bet more than $1.6 billion on a Wall Street crash.
Burry is making his bearish bets against the S&P 500 and Nasdaq 100, according to Security Exchange Commission filings released Monday. Burry’s fund, Scion Asset Management, bought $866 million in put options (that’s the right to sell an asset at a particular price) against a fund that tracks the S&P 500 and $739 million in put options against a fund that tracks the Nasdaq 100.
Burry is using more than 90% of his portfolio to bet on a market downturn, according to the filings.
Michael Burry, of ‘Big Short’ fame, just bet $1.6 billion on a stock market crash
Updated 3:11 PM EDT, Wed August 16, 2023
04:05 - Source: CNN
'Big Short' investor Michael Burry bets on Wall Street downturn
New YorkCNN —
Michael Burry, the “Big Short” investor who became famous for correctly predicting the epic collapse of the housing market in 2008, has bet more than $1.6 billion on a Wall Street crash.
Burry is making his bearish bets against the S&P 500 and Nasdaq 100, according to Security Exchange Commission filings released Monday. Burry’s fund, Scion Asset Management, bought $866 million in put options (that’s the right to sell an asset at a particular price) against a fund that tracks the S&P 500 and $739 million in put options against a fund that tracks the Nasdaq 100.
Burry is using more than 90% of his portfolio to bet on a market downturn, according to the filings.
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