Christian Bale might have a new movie contract soon.
Michael Burry, one of the Tradfi banking industry’s most notorious bears, just put a $1.6 billion hit out on the U.S. stock market. What happens to bitcoin while the grownups are fighting?
The Scion Capital founder, who famously shorted mortgage-backed securities before the 2007 housing crisis, just gave the stock market a $1.6 billion shove of puts in SPY and QQQ!“Michael Burry made a name for himself by shorting the market to the point where they made a movie about him called ‘The Big Short.’ But is he preparing for a time when lightning will strike twice?”
During the U.S. subprime mortgage crisis, big bets against Wall Street’s housing market earned Burry $100 million in personal profit. His big contrarian trade made some $700 million in profits for his clients.and bought a bunch of finance stocks, but the market wizard behind Scion Capital is apparently very certain of a near-term stock market crash.The sheer percentage of his portfolio Burry has devoted to this trade shows far more conviction than his long positions in banks earlier this year.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Michael Burry's $1.5 Billion Short: 'Premature Move' or Market Insight, Crypto Expert Weighs InThe 'Big Short' hero's move might be premature, suggests crypto analyst
Read more »
'Big Short' investor's billion dollar bet raises huge red flagsInvestor Michael Burry's latest SEC report revealed bearish bets against the economy.
Read more »
'Blind Side' Author Michael Lewis Weighs in On Michael Oher LawsuitLewis claims that the family didn't make nearly as much as Oher believes from the success of the film.
Read more »
'Blind Side' author Michael Lewis breaks silence on Michael Oher petition against Tuohy family'The Blind Side' author Michael Lewis broke his silence Wednesday about the drama surrounding the Tuohy family and Michael Oher stemming from the movie.
Read more »
'Blind Side' Author Michael Lewis Defends Tuohy Family, Blames Hollywood for Michael Oher Lawsuit“[The Tuohys] showered him with resources and love. That he’s suspicious of them is breathtaking,” Lewis says of former NFL lineman’s lawsuit
Read more »