Megan FoxAug 15, 2023

Not only is the Big Short guy (yes, that guy) betting heavily against the market again, but he's so confident about it that the contract value is 1.6 billion, or seen another way,

fully 93% of his entire investment portfolio.

EDIT: though the source is really fishy.
https://www.moneycontrol.com/news/business/markets/the-big-short-take-2-michael-burrys-1-6-billion-short-bet-against-sp-500-nasdaq-100-11189541.html #Finance #investments #money

'The Big Short' Take 2: Michael Burry’s $1.6 billion short bet against S&P 500, Nasdaq 100

Michael Burry’s Scion Asset Management held puts with a total contract value of $886 million against SPDR S&P 500 ETF shares, and another $739 million against Invesco QQQ Trust ETF, Reuters reported citing securities filings.

Moneycontrol
Show threadMegan FoxAug 15, 2023
I've been braced for a collapse for ages, and am surprised it hasn't happened yet (continually, for like a year, what the heck, how is it sustaining this) but I wasn't THAT confident. So that's... bracing.
Show threadJanne Moren

@glassbottommeg
Of course, it's now in his interest to publicize this widely. Increase doubt and increase the chance of his bet panning out.

Take the news with a grain of salt.

Aug 15, 2023 at 5:40amWeb