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Renowned investor Michael Burry, who inspired the film "The Big Short" with his accurate prediction of the 2008 financial crisis, released large bearish bets against the indicesS&P 500It isNasdaq-100, very relevant for the North American market. The announcement of the latest portfolio update reflects a strong belief in the market slowdown, which did not surprise followers. summary Put Options: A Protection Strategy Meet Michael Burry S&P 500 and the Nasdaq-100 in 2023 Put Options: A Protection Strategy Through its fund, theScion Asset Management, the investor acquired put options — the right to sell an asset at a price previously fixed in a contract — for 200,000 shares of the SPDR S&P 500 ETF Trust.
Which tracks the S&P 500, worth US$866 million. Put shares were also cell phone number list purchased for 200,000 shares of the Invesco QQQ Trust, which tracks the Nasdaq-100 index, worth $739m. The total value of the bonds was $1.6 billion as of June 30. However, the puts cost Burry a fraction of the amount. Bets on the market slowdown are a strategy to protect Michael Burry's investments. According to Securities and Exchange Commission (SEC) documents released on August 14, Burry used more than 90% of his portfolio to bet on a market downturn. Bets can be considered ashedges, a strategy to protect investmentsby maintaining its value in the event of a fall. This signals great pessimism regarding the 2 busy funds, predominantly composed of aggressive value stocks, such as Tesla and Nvidia.
Meet Michael Burry Michael Burry became famous in the mid-2000s for correctly predicting the 2008 US housing market crisis and making huge profits from his bets. The event inspired the best-seller “The Big Short: Inside the Doomsday Machine”, adapted into the film “The Big Short”, directed by Adam McKay. In it, the investor was played by Christian Bale. Even with his strong investment background, Michael Burry deals with hits and misses when predicting risky assets. For example, he diagnosed the “biggest speculative bubble of all time in all things” and predicted the “mother of all crashes” in 2021. In May 2023, he admitted he was wrong in recommending the sale of shares 2 months earlier, in a twitter post. S&P 500 and the Nasdaq-100 in 2023 Despite Burry's predictions, the S&P 500 and Nasdaq-100 rose by around 16% and 38%, respectively, in 2023.
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