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Search resuls for: "Michael Burry’s"


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Why it matters: “For most of the last two decades, China’s economic growth has been a major driver of the global economy,” said Alex Etra, a strategist at data analytics firm Exante. That means that if China’s economy slows down, global economic growth slows down. ExxonMobil (XOM) may not be doing too much business with China, said Etra, but if Chinese growth slows, that means oil prices go down. Earlier this year, Bank of America compiled a list of the S&P 500 companies with the highest exposure to China. The grand total of all the private wealth in the world fell 2.4% to $454.4 trillion last year, according to the annual Credit Suisse and UBS global wealth report.
Persons: Joe Biden, BlackRock, , Alex Etra, Michael Burry’s, Allison Morrow, That’s, Jason Hart, Winn, ” Hart, , Ramishah Maruf Organizations: CNN Business, Bell, New York CNN, country’s National Bureau of Statistics, ExxonMobil, Apple, Intel, Starbucks, Nike, Bank of America, Las, Qualcomm, Nvidia, Wynn Resorts, WYNN, MGM Resorts, MGM, Funds, PitchBook, Michael Burry’s Scion Asset Management, Moore Capital Management, D1 Capital, Tiger Global, Securities, Exchange, Credit Suisse, UBS, Millionaires, Aldi, Dixie, Winn, CNN Locations: New York, Beijing, China, Ukraine, United States, Aldi, Winn
New York CNN —Michael Burry, the “Big Short” investor who became famous for correctly predicting the epic collapse of the housing market in 2008, has bet more than $1.6 billion on a Wall Street crash. Burry is making his bearish bets against the S&P 500 and Nasdaq 100, according to Security Exchange Commission filings released Monday. Burry is using more than 90% of his portfolio to bet on a market downturn, according to the filings. The S&P 500 and Nasdaq 100 have both notched big gains so far this year. While one big payoff doesn’t guarantee future returns, Burry does have a strong investment record.
Persons: New York CNN — Michael Burry, Burry, bearish, , , Michael Lewis, Christian Bale, JPMorgan Chase, Michael Burry’s, Scion’s Organizations: New, New York CNN, Nasdaq, Security Exchange, Scion Asset Management, First Republic Bank, Huntington Bank, Western Alliance, JPMorgan, JD.com, Scion, Expedia, MGM Resorts, MGM, CVS, CNN, Warner Bros ., Traders Locations: New York, China, Huntington
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