Michael Burry Exits Alibaba, JD.com Stakes in Portfolio Overhaul

Bloomberg2023-08-15

(Bloomberg) -- Michael Burry’s Scion Asset Management exited its stakes in Alibaba Group Holding Ltd. and JD.com Inc. in the second quarter, ditching the stocks just months after doubling down on them...

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Comments

AcidIce
2023-08-15
AcidIce
Got money can buy, sell & talking crap! Double down make a lot of noise then others follow, after that the billionaires exit! Kns!
Andrewinho
2023-08-15
Andrewinho
Run!! 😱😱😱

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Outsider Milei Upends Argentina’s Election With Primary Win. Tech Giants, Yields Ticked Up in Choppy Session: Markets Wrap. China Finance Giant’s Missed Payments Alarm Regulators, Markets. That’s a stark turnaround, considering the two Chinese tech giants comprised 20% of the firm’s portfolio and were its top two equity holdings at the end of March.Financial social media was abuzz Monday with talk that Burry was making a multibillion-dollar bet against the stock market by buying put options on the biggest exchange-traded funds tracking the S&P 500 and Nasdaq 100. 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They include First Republic Bank, which was rescued by JPMorgan Chase & Co., and PacWest Bancorp, which is being acquired by Banc of California.  Expedia Group Inc. emerged as Scion’s top holding, with the hedge fund acquiring 100,000 shares worth $10.9 million as of midyear. The firm also added shares of Charter Communications Inc. and CVS Health Corp., among the 25 new stakes the fund started last quarter amid a significant portfolio revamp. Scion’s top 15 holdings at the end of June are all new positions.Financial social media was abuzz Monday with talk that Burry was making a multibillion-dollar bet against the stock market by buying put options on the biggest exchange-traded funds tracking the S&P 500 and Nasdaq 100. A closer look, however, shows the wager is more nuanced.Scion’s filing shows long put option positions of 20,000 contracts in the two ETFs — equating to 2 million shares each. 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In January, he forecast another inflation spike and said the US was already in a recession.Scion, based in Saratoga, California, had $233.3 million of assets under management at the end of last year.Monday is the deadline for thousands of institutional investors, including hedge funds, pension funds and endowments, to report certain US equity holdings to the Securities and Exchange Commission through quarterly 13F filings.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":209067590664320,"gmtCreate":1692065726787,"gmtModify":1692065731230,"author":{"id":"3569382039983887","authorId":"3569382039983887","name":"AcidIce","avatar":"https://static.tigerbbs.com/25a5edd325094826cf6e8822874786ab","vip":1,"crmLevel":5,"crmLevelSwitch":1,"idStr":"3569382039983887","authorIdStr":"3569382039983887"},"htmlText":"Got money can buy, sell &amp; talking crap! Double down make a lot of noise then others follow, after that the billionaires exit! Kns!","listText":"Got money can buy, sell &amp; talking crap! Double down make a lot of noise then others follow, after that the billionaires exit! Kns!","text":"Got money can buy, sell & talking crap! Double down make a lot of noise then others follow, after that the billionaires exit! Kns!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/209067590664320","repostId":2359856087,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":208829281276008,"gmtCreate":1692055477705,"gmtModify":1692055482856,"author":{"id":"3581563418944392","authorId":"3581563418944392","name":"Andrewinho","avatar":"https://static.tigerbbs.com/3127e2bc40ab23064a5187a00a63e19b","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3581563418944392","authorIdStr":"3581563418944392"},"htmlText":"Run!! 😱😱😱","listText":"Run!! 😱😱😱","text":"Run!! 😱😱😱","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/208829281276008","repostId":2359856087,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":12,"commentSize":2,"repostSize":1,"favoriteSize":1,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2359856087"}