Guy who bet on the housing market collapsing, just bet $1.6B that NASDAQ and S&P will collapse in 90 days
- Thread starter GhostOfMatchesMalone
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From what I have read, he “bet” a couple mill to potentially win a billion in a total collapse scenario. It’s like my 6 team mlb parlays except maybe slightly more likely and certainly more lucrative.
It looks like $1.6b but that isn't much to go on and I haven't looked at anything else on this yet.
Do you have a link to what you've read?
There was a similar article on CNN.
It’s an interesting warning….
2009 shook up politics. If we had another big crash, another major reorientation could happen.
It’s an interesting warning….
2009 shook up politics. If we had another big crash, another major reorientation could happen.
The two holdings could be hedges, intended to soften the blow to Scion's portfolio if the stock market slumps and its long positions tumble in value. But they could also signal that Burry is pessimistic about the two index funds, which are dominated by aggressively valued stocks like Tesla and Nvidia.
markets.businessinsider.com
Interesting...and something to watch for sure.
'Big Short' investor Michael Burry's new bets against the S&P 500 and Nasdaq-100 are no surprise. Here's why.
Michael Burry has repeatedly sounded the alarm on stocks, and said the passive-investing boom could lead to a worse disaster than the dot-com crash.
markets.businessinsider.com
Interesting...and something to watch for sure.
What I read was saying he bought way short options on big stock indexes that would only cash in complete collapse scenario (which to be fair he did cash in on in 2008).
Looking for the article. This tweet references it.
This actually makes me feel a lot better. I scanned some articles and it looks like the amount he had to pay upfront for this was in the tens of millions most likely. But he also apparently has a 'long' bet on the markets worth around $100M. So this is more or less hedging as you and alum said.
Warren Buffett selling $8 billion worth of stock raises economy crash fears
The U.S. economy has shown signs of resilience and even progress in recent months—yet legendary investor Warren Buffett keeps dumping stocks.
www.newsweek.com
