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