This is the investor who rose to fame thanks to the book The Big Short and its subsequent film adaptation.
The guru who predicted the real estate bubble decided to invest heavily in these Chinese companies
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Michael Burryinvestor who rose to fame thanks to the book The Big Short and its subsequent film adaptation, broke its portfolio to Chinese internet stocks including Alibaba Group Holding Ltd. and Baidu Inc. during the second trimester, according to a filing with the Securities and Exchange Commission released Wednesday.
One of the chosen actions was Alibaba Group Holding. His signature, Scion Asset Managementhas been increasing its stakes in the Chinese e-commerce giant over the past few quarters, with 155,000 shares, according to the filing.The stock was also his firm’s largest equity holding at the end of the first quarter.
But Burry also increased the size of his bet on Baidu. As of June 30, he owned 75,000 shares worth $6.5 million, according to the document.
Meanwhile, Burry cut its stake in JD.com Inc, another Chinese internet company, for 110,000 shares, worth just over $3 million, although the shares still represented one of the largest equity holdings in its portfolio.
Molina Healthcare Inc., a California-based managed care provider, and Shift4 Payments Inc. were also among the top holdings listed in the filing.
Source: Ambito
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