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Search resuls for: "Scion Asset"


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☆ 'Big Short' Michael Burry is long on China's Alibaba and JD.com — these stocks are now a fifth of his portfolio
  + stars: | 2023-05-16 | by ( Huileng Tan | ) www.businessinsider.com   time to read: +3 min
"Big Short" investor Michael Burry has been accumulating Alibaba and JD.com shares. Scion held $10.2 million worth of Alibaba shares and $11 million worth of JD.com shares as of March 31. "Big Short" investor Michael Burry is long on China's Alibaba and JD.com. Scion Asset Management held 100,000 Alibaba shares worth $10.2 million and 250,000 JD.com shares worth nearly $11 million as of March 31. The hedge fund's holdings in both Chinese tech companies increased from December 31, when it held 50,000 Alibaba shares and 75,000 JD.com shares, according to the regulatory filing.
☆ Stocks making the biggest moves midday: Horizon Therapeutics, Capital One, RH, Home Depot and more
  + stars: | 2023-05-16 | by ( Michelle Fox | ) www.cnbc.com   time to read: +4 min
Western Alliance Bancorp — Western Alliance shares jumped 3.6% after Bank of America reinstated coverage on the stock with a buy rating. Home Depot , Lowe's — Shares of home improvement retailers Home Depot and Lowe's lost 1.4% and 1% in midday trading Tuesday. On Monday, Daniel Welch, a director at Seagen, disclosed the sale of 1,864 shares, a stake worth more than $370,000. GE HealthCare — The medtech company's shares gained nearly 3% after Oppenheimer initiated coverage with an outperform rating on Monday. GE HealthCare separated from parent company General Electric earlier in 2023 and began publicly trading on the Nasdaq Jan. 4.
☆ Volatile banking sector saw big moves from funds in first quarter
  + stars: | 2023-05-15 | by ( David Randall Carolina Mandl | David Randall | Carolina Mandl | ) www.reuters.com   time to read: +4 min
The S&P Regional Banking Index fell approximately 25% during the quarter as a run on deposits sank Silicon Valley Bank and Signature Bank in March, both of which were at the time the largest banking failures since the Great Financial Crisis. The S&P Regional Banking index is now down 36% for the year to date. Famed "Big Short" investor Michael Burry's Scion Asset Management, meanwhile, added a number of new positions in regional banks, including stakes in First Republic, PacWest (PACW.O) and Western Alliance Bancorp (WAL.N). Shares of regional banks have remained volatile in recent weeks, with some investors wary of more tumult to come in the sector. London-based Marshall Wace sold 51,300 shares of First Republic in the first quarter, closing its position in the bank.
☆ 'Big Short' investor Burry bet on regional banks in first quarter
  + stars: | 2023-05-15 | by ( David Randall | ) www.reuters.com   time to read: +2 min
[1/2] A branch of First Republic Bank is seen. First Republic collapsed May 1, making it the largest bank failure since the 2008 financial crisis. The filings did not show whether Scion had sold its positions before then. The positions were revealed in quarterly securities fillings known as 13-fs. Burry was featured in the 2010 nonfiction book "The Big Short" by Michael Lewis which was made into a popular movie five years later.
☆ ‘Big Short’ Michael Burry bought shares in a slew of regional banks last quarter amid banking crisis
  + stars: | 2023-05-15 | by ( Yun Li | ) www.cnbc.com   time to read: +2 min
Michael Burry, known for calling the subprime mortgage crisis, bought shares in a number of regional banks last quarter, betting the industry could weather the crisis, according to a new regulatory filing. The famed investor said in mid-March, after the collapse of Silicon Valley Bank , that he expected the banking crisis to be over soon without severe damage. However, on May 1, First Republic was seized by regulators to become the biggest bank collapse since the 2008 financial crisis. Burry bought $2 million worth of First Republic Bank shares last quarter, the filing, which reflects Scion's holdings as of March 31, showed. Burry was depicted in Michael Lewis' book "The Big Short" and the subsequent Oscar-winning movie of the same name.
☆ 'Big Short' investor Michael Burry broke down his iconic bet against the US housing bubble during a 2008 meeting with a Warren Buffett acolyte - but his warning and advice were ignored.
  + stars: | 2023-05-02 | by ( Theron Mohamed | ) www.businessinsider.com   time to read: +4 min
Michael Burry told a Warren Buffett disciple exactly how to bet against the housing bubble in 2008. However, Mohnish Pabrai ignored the warning and advice from "The Big Short" investor. Burry invited the head of Pabrai Investment Funds to his office, and immediately launched into a detailed explanation of his iconic bet against the housing bubble, Pabrai recalled during a recent Mint interview. "He implored me to go long CDS on MBS," Pabrai said about Burry in a recent tweet. Burry repeatedly sounded the alarm on the housing bubble before it imploded, but virtually nobody listened.
☆ 'Big Short' Michael Burry admits he was 'wrong to say sell' after the Nasdaq 100 entered a bull market
  + stars: | 2023-03-31 | by ( Huileng Tan | ) www.businessinsider.com   time to read: +2 min
Michael Burry tweeted Thursday he was "wrong to say sell" on January 31. Nasdaq 100 entered a bull market on Wednesday after gaining 20% from its December 28 closing low. But Burry walked that statement back, tweeting Thursday that he "was wrong to say sell." Burry's about-turn came after the tech-focused Nasdaq 100 entered a technical bull market for the first time in nearly three years on Wednesday, after the index closed 20% higher from a December 28 low. The Nasdaq 100 index closed 0.9% higher at 12,963.14 on Thursday.
☆ Michael Burry compares government's bank rescue to J.P. Morgan's stand that reversed Panic of 1907
  + stars: | 2023-03-15 | by ( Yun Li | ) www.cnbc.com   time to read: +2 min
"The Big Short" investor Michael Burry said regulators' extraordinary action to backstop regional banks should be enough to resolve this crisis and stabilize the financial markets. "In October 1907, Knickerbocker Trust failed due to risky bets, sparking a panic. 3 weeks later the Panic resolved & markets bottomed," Burry said in tweet Wednesday. More than a century ago, the financial crisis known as the "Panic of 1907" took place where there were numerous runs on banks, including Knickerbocker Trust. Burry was depicted in Michael Lewis' book "The Big Short" and the subsequent Oscar-winning movie of the same name.
☆ Michael Burry says he's not seeing 'true danger' in the aftermath of SVB collapse
  + stars: | 2023-03-14 | by ( Yun Li | ) www.cnbc.com   time to read: +1 min
Michael Burry, known for calling the subprime mortgage crisis, said Monday evening that he expects the unfolding banking crisis to be over soon without severe damage. I am not seeing true danger here," Burry said in a now-deleted tweet. The collapse over the past several days of Silicon Valley Bank and Signature Bank — the second- and third-largest bank failures in U.S. history — prompted extraordinary rescue action from regulators. In addition to backstopping the deposits at SVB and Signature Bank, federal regulators also announced an additional funding facility for troubled banks. Burry shot to fame by betting against mortgage-backed securities before the 2008 crisis.
☆ 'Big Short' investor Michael Burry brushes off the latest US banking crisis: 'I am not seeing true danger here'
  + stars: | 2023-03-14 | by ( Morgan Chittum | ) www.businessinsider.com   time to read: +2 min
Michael Burry is not seeing "true danger" from the collapse of Silicon Valley Bank. The fund manager, who called the 2008 housing crash, expects the fiasco to "resolve very quickly"Sign up for our newsletter to get the inside scoop on what traders are talking about — delivered daily to your inbox. Michael Burry, the legendary investor who called the 2008 housing market crash, dismissed concerns around the financial turmoil caused by Silicon Valley Bank's demise. Burry's latest remarks came a day after comparing SVB's collapse to the great financial crisis and dot-com crash. Meanwhile, Burry last week compared SVB to Enron, the energy-trading giant that was busted for accounting fraud and went bankrupt in 2001.
☆ 'Big Short' legend Michael Burry invested in Bed Bath & Beyond at least twice before the meme stock's epic rise and fall
  + stars: | 2023-03-04 | by ( Theron Mohamed | ) www.businessinsider.com   time to read: +3 min
Michael Burry invested in Bed Bath & Beyond at least twice before the meme-stock boom in early 2021. Burry's Scion firm held a $8 million stake in September 2019, and a $11 million stake in June 2020. BBBY shares peaked at $43 in January 2021, quadruple the price at which Burry owned them. It owned 1 million BBBY shares worth almost $11 million on June 30, 2020. A buying frenzy drove BBBY shares as high as $43 during that period; if Burry had kept his million shares, they would have briefly quadrupled in value to $43 million.
☆ The chief executive of an AI-driven markets analytics company breaks down how to invest in the craze sparked by ChatGPT
  + stars: | 2023-02-18 | by ( Phil Rosen | ) www.businessinsider.com   time to read: +6 min
Today, I'm eager to share my conversation with the CEO of a markets analytics platform that leverages the power of artificial intelligence. Jan Szilagyi is the chief executive officer and cofounder of Toggle AI. Toggle AIJan Szilagyi is the chief executive officer and cofounder of Toggle AI. Jan Szilagyi: We've seen a big increase in business and a huge spike in inquiries to Toggle AI. Ultimately, I don't think AI is going to be a fad though.
☆ 'Big Short' investor Michael Burry reveals new bets on Alibaba, MGM, and JD.com
  + stars: | 2023-02-14 | by ( Theron Mohamed | ) www.businessinsider.com   time to read: +3 min
Michael Burry built new stakes in Alibaba, JD.com, and MGM Resorts last quarter. The investor of "The Big Short" fame may have spied value in beaten-down Chinese tech stocks. The investor of "The Big Short" fame bought 50,000 American Depositary Shares (ADS) of Alibaba, valued at $4.4 million on December 31. He also scooped up 75,000 American Depositary Receipts (ADR) of JD.com, worth $4.2 million at the end of last year. Burry's Scion Asset Management also purchased 100,000 shares of MGM, a position worth $3.4 million at last quarter's close.
☆ 'Big Short’ Michael Burry bought a slew of stocks last quarter, including two Chinese internet names
  + stars: | 2023-02-14 | by ( Yun Li | ) www.cnbc.com   time to read: +2 min
Michael Burry, known for calling the subprime mortgage crisis, picked up a slew of stocks in the fourth quarter including two Chinese internet giants, according to a new regulatory filing. The famed investor bought $9.3 million worth of mortgage data vendor Black Knight last quarter, as well as $5.3 million worth of Coherent , a manufacturer of optical materials and semiconductors. Burry also bought into a duo of Chinese e-commerce leaders — Alibaba and JD.com — during the fourth quarter. Burry was depicted in Michael Lewis' book "The Big Short" and the subsequent Oscar-winning movie of the same name. It's also unclear if Burry took any bearish bets last quarter, as short positions are not disclosed in these reports.
☆ 'Big Short' investor Michael Burry compares the stock market's rally to the dot-com bubble - and hints he's bracing for an epic crash
  + stars: | 2023-02-08 | by ( Theron Mohamed | ) www.businessinsider.com   time to read: +4 min
Michael Burry signaled the stock-market rebound this year reminds him of the dot-com bubble. The "Big Short" investor highlighted how stocks and interest rates both plunged in 2001 and 2002. Burry has warned the S&P 500 could plunge by over 50%, and recently tweeted one word: "Sell." Notably, Burry emphasized in October that he's bracing for a collapse in stocks that dwarfs the dot-com crash, as there's so much money parked in index funds today. Burry shot to fame after his billion-dollar bet against the mid-2000s housing bubble was immortalized in the book and movie "The Big Short."
☆ 'Big Short' investor Michael Burry tweets one word of advice for investors before big Fed meeting
  + stars: | 2023-02-01 | by ( Yun Li | ) www.cnbc.com   time to read: +1 min
"The Big Short" investor Michael Burry tweeted out a piece of investing advice consisting of just one word, a day before the Federal Reserve's market-moving interest rate decision. "Sell," Burry said in a Twitter post to his 1.3 million followers Tuesday evening, which garnered more than 40,000 likes in hours. His comment came after the stock market staged a big comeback in the new year, led by beaten-down technology names. The Fed is expected to raise interest rates by a quarter point Wednesday, its smallest increase since it began hiking rates last March. Besides his "Big Short," Burry made a killing from a long GameStop position amid the historic meme stock mania in 2021.
☆ 'Big Short' legend Michael Burry issues a grave warning to investors with a one-word tweet: 'Sell.'
  + stars: | 2023-02-01 | by ( Theron Mohamed | ) www.businessinsider.com   time to read: +3 min
Burry recently compared the S&P 500's rebound to its short-lived rally during the dot-com crash. The benchmark S&P 500 index gained 6.2% in January, while the tech-heavy Nasdaq Composite surged 11%, marking its best January performance since 2001. Burry has been pouring cold water on the stock rally this year. The implication was that the S&P 500's 17% rally since last October's low could also prove short-lived. GMO's Jeremy Grantham recently declared the S&P 500 could plummet 50% in a worst-case scenario, while Universa Investments's Mark Spitznagel diagnosed the "greatest tinderbox-timebomb in financial history."
☆ 'Big Short' investor Michael Burry says Salesforce stock should've plunged 25% after big job cuts
  + stars: | 2023-01-05 | by ( Brian Evans | ) www.businessinsider.com   time to read: +2 min
"Big Short" investor Michael Burry is surprised Salesforce stock didn't drop on job cut news. "CRM should have been down 25% on those job cuts. Job cuts are so not the reason to own that," he tweeted. "CRM should have been down 25% on those job cuts. Salesforce stock rose 3.6% after the announced cut to its labor force on Wednesday.
☆ Tesla stock has plunged nearly 70% from its peak. 'Big Short' investor Michael Burry called the crash.
  + stars: | 2022-12-21 | by ( Theron Mohamed | ) www.businessinsider.com   time to read: +4 min
Tesla stock has plunged about 67% from its peak in November 2021. The investor repeatedly warned Tesla shares were in a bubble and destined to crash. Other factors were a boom in people playing the stock market while stuck at home, and a social-media frenzy around certain stocks. "The competition came for Netflix, just like the competition is coming for Tesla," Burry tweeted. He returned to his punching bag in September, when Tesla stock was trading at more than double its current level.
☆ 'Big Short' investor Michael Burry sounds the recession alarm, warning the US economy faces a multiyear downturn
  + stars: | 2022-11-30 | by ( Theron Mohamed | ) www.businessinsider.com   time to read: +3 min
Michael Burry has predicted the US economy will suffer a multiyear recession. The 'Big Short' investor sees no way for authorities to end the downturn early. Burry has warned consumers will virtually exhaust their savings soon, tanking the economy. The investor of "The Big Short" fame seems to be suggesting the Federal Reserve and US government have few good options to shore up growth. Burry shot to fame after his billion-dollar bet against the mid-2000s housing bubble was immortalized in the book and the movie "The Big Short."
☆ 'Big Short' investor Michael Burry touts gold as a winner from the FTX fiasco - and hints he's betting against the stock market
  + stars: | 2022-11-17 | by ( Theron Mohamed | ) www.businessinsider.com   time to read: +4 min
Michael Burry suggested the FTX fiasco and other crypto scandals could be good news for gold. The "Big Short" investor teased a bet against the market, despite his recent stock purchases. The investor of "The Big Short" fame was almost certainly referring to the financial pressures spreading across the crypto industry that have hit Sam Bankman-Fried's collapsed crypto exchange FTX. He shot to fame for his monster bet against the mid-2000s housing bubble, which was immortalized in the book and the movie "The Big Short." Read more: A Michael Burry expert breaks down what makes the 'Big Short' investor special.
☆ 'Big Short' Michael Burry on his current positioning: 'You have no idea how short I am'
  + stars: | 2022-11-16 | by ( Yun Li | ) www.cnbc.com   time to read: +2 min
"The Big Short" investor Michael Burry, known for calling the subprime mortgage crisis, hinted that he currently has a sizable short position after being bearish throughout 2022. "You have no idea how short I am," Burry said in a Tuesday evening tweet. It's unclear what kind of bet Burry is making, if he's shorting any specific sectors or stocks or just the whole market. A new regulatory filing showed at the end of the third quarter, Burry held relatively small positions in just six names. Short positions are not disclosed in quarterly reports.
☆ 'Big Short' fund manager Burry buys another prison stock
  + stars: | 2022-11-14 | by ( Carolina Mandl | ) www.reuters.com   time to read: +1 min
The move comes after fund manager Burry dumped a dozen positions in the second quarter, including Facebook parent Meta Platforms (META.O), and replaced them with a new stake in prison company Geo Group Inc (GEO.N). A regulatory filing on Monday showed he bought roughly 1.5 million additional shares in Geo Group in the third quarter. Burry also added $7.8 million stake in CoreCivic, the filing showed. Shares in Geo Group, CoreCivic and Aerojet are up year-to-date, outperforming the S&P 500, which is down 16.3% on the year. Fund managers are not required to disclose short positions, which profit when a company's shares fall.
☆ Michael Burry of ‘The Big Short’ bets on a home shopping network stock and a rocket engine maker
  + stars: | 2022-11-14 | by ( Yun Li | ) www.cnbc.com   time to read: +2 min
Famed investor Michael Burry, known for calling the subprime mortgage crisis, jumped back into the market to pick up a few stocks in the third quarter, according to a new regulatory filing. Burry has been in and out of this private prison operator as well as GEO Group the past two years. In February, Lockheed Martin tabled plans to acquire the rocket engine maker amid opposition from U.S. antitrust enforcers. Burry was depicted in Michael Lewis' book "The Big Short" and the subsequent Oscar-winning movie of the same name. It's also unclear if Burry took any bearish bets last quarter as short positions are not disclosed in these quarterly reports.
☆ 'Big Short' investor Michael Burry reveals 5 stocks he bought last quarter - after slashing his portfolio to a single holding
  + stars: | 2022-11-14 | by ( Theron Mohamed | ) www.businessinsider.com   time to read: +2 min
Michael Burry expanded his US stock portfolio from a single holding to six last quarter. "The Big Short" investor placed bets on Qurate Retail, Charter Communications, and other companies. The value of Burry's portfolio jumped from about $3 million to over $41 million. Overall, Burry's US stock portfolio ballooned in size to $41.3 million, compared to only $3.3 million at the end of June. Read more: A Michael Burry expert breaks down what makes the 'Big Short' investor special.
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