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Michael Burry of 'The Big Short' Opens New Short Position
Michael Burry, the man who famously shorted subprime mortgages during the 2008 financial crisis, is now betting against ...
Michael Burry, the man who famously shorted subprime mortgages during the 2008 financial crisis and then got the movie ‘The Big Short’ made after him, was just wrong in a big way.
Back in August, we covered Burry’s $1.6 billion short position on the S&P 500 and the Nasdaq 100.
Well, he was wrong. Very wrong.
This week, Burry closed this short position for an estimated loss of 40%. Oof.
Well, guess what? He hasn’t learned his lesson.
This time, he’s shorting semiconductors.
Burry’s fund, Scion Capital, newest position:
Shorting 100,000 shares of BlackRock’s semiconductor ETF
These 100,000 shares have a notional value of $47.4 million and it’s betting against iShares Semiconductor ETF (SOXX).
Shares have gained +48.51% YTD
Other Semiconductor companies:
Nvidia (NVDA) shares have gained +241.05% YTD
Advanced Micro Devices (AMD) shares have gained +85.65% YTD
Intel (INTC) shares have gained +50.58% YTD
Taiwan Semiconductor (TSM) shares have gained +33.11% YTD
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