Yahoo: Yahoo! Finance: Michael Burry's New Bets: Shorting Tech Giants and Betting on Luck

Summary

Michael Burry, the investor famous for predicting the 2008 housing crisis, is doubling down on his bearish bets against major tech companies and adding new short positions in the semiconductor industry. He has increased his short exposure to Nvidia and Micron Technology, and significantly expanded his bearish position in the iShares Semiconductor ETF, SOXX, which now includes substantial put options. Burry also continues to hold his existing short positions in Tesla and Palantir Technologies, both of which have seen considerable declines this year. Meanwhile, he's making long investments in Flutter Entertainment and DraftKings. This strategic move by Burry is particularly noteworthy given the contrasting performances of these companies: Micron has surged nearly 192% this year, while Nvidia has gained around 9%, in stark contrast to Tesla, Palantir, and DraftKings, which have dropped roughly 30%, 31%, and 33% respectively. The article provides valuable insight into Burry's contrarian investment philosophy and his current market outlook, making it a compelling read for anyone interested in sophisticated investment strategies.