The famous guru Michael Burrywho became known for having predicted the 2008 housing crisis three years in advance, made surprising moves in his investment portfolio.
Thus, he focused his funds on China. Currently, 45% of its Scion Asset Management fund has a position in companies from the Asian giant.
Its interest in the Chinese market is due to the fact that it seeks take advantage of the low stock valuation amid the current real estate crisis in China.
Alibaba and Baidu: the chosen ones
burry invested in Alibabaone of the largest technology companies in Chinawith an amount close to US$9 million, which now represents almost 9% of your portfolio. Taking advantage of the 75% depreciation in Alibaba’s share value since its peak, Burry reinforced his confidence in the company’s turnaround potential.
Furthermore, he took a position in Baiduknown as the “Chinese Google” and in JD.comwhich now represent 9.52% of its portfolio. “These acquisitions show their belief that the Chinese technology market will recover and offer high long-term returns,” analysts explained.
Other key sectors: where you invested the most
At the beginning of August, increased its investment in physical gold, acquiring 7.3% of this asset through the company Physical Gold Trusta movement valued at more than US$7.6 million. “This decision reflects its cautious approach to global financial volatility,” they explained.
Burry also adjusted his US portfolio, selling his stakes in companies such as Alphabet, Amazon, MGM Resorts and Oracle. His new investments focused on companies such as First Solar Inc. (4.89% of its portfolio) and HCA Healthcare (8.05%), which it considers to be solid bets in a challenging economic context.
Another of its acquisitions was BioAtla. Other positions in his portfolio include Citigroup (7.36%), RealReal (5.33%), Star Bulk Carriers (5.76%) and Vital Energy (6.34%), which reveals their preference for companies with high growth potential in various sectors.
Source: Ambito
