{"id":1477417,"date":"2022-05-17T07:30:40","date_gmt":"2022-05-17T11:30:40","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1477417"},"modified":"2022-05-17T07:30:59","modified_gmt":"2022-05-17T11:30:59","slug":"big-short-investor-michael-burry-reveals-bet-against-apple","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/big-short-investor-michael-burry-reveals-bet-against-apple\/","title":{"rendered":"\u201cBig Short\u201d Investor Michael Burry Reveals Bet Against Apple"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbig-short-investor-michael-burry-reveals-bet-against-apple%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1477417&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/i.insider.com\/61f001b72b43ff00185e67b5?width=1200&#038;format=jpeg\" class=\"ff-og-image-inserted\" alt=\"image\" \/><\/div>\n<ul class=\"summary-list\">\n<li>Michael Burry&#8217;s Scion Asset Management placed a bearish wager against Apple stock last quarter.<\/li>\n<li>&#8220;The Big Short&#8221; investor bought a bunch of stocks including Alphabet, Meta Platforms, and Discovery.<\/li>\n<li>The purchases helped to more than double the value of Scion&#8217;s US stock portfolio to $165 million.<\/li>\n<\/ul>\n<div class=\"inline-newsletter-signup                          headline-regular loading\" id=\"formContainer\" data-component-type=\"inline-newsletter-module\" data-event-label=\"10_things_markets\" data-list=\"10 Things Before the Opening Bell\" data-acq-source=\"marketsverticalinline\">\n<section class=\"inline-newsletter-content\">\n<div class=\"js-loader hidden\">\n                        Loading<br \/>\n                        Something is loading.<\/p><\/div>\n<\/section><\/div>\n<p>Michael Burry, the investor of &#8220;The Big Short&#8221; fame, placed a bet against <a href=\"https:\/\/markets.businessinsider.com\/stocks\/aapl-stock?utm_medium=ingest&#038;utm_source=markets\" data-analytics-module=\"body_link\">Apple<\/a> and loaded up on other stocks last quarter, a <a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1649339\/000156761922010747\/xslForm13F_X01\/form13fInfoTable.xml\" data-analytics-module=\"body_link\">Securities and Exchange Commission filing<\/a> revealed on Monday.<\/p>\n<p>Burry&#8217;s Scion Asset Management held bearish put options against 206,000 Apple shares as of March 31. The iPhone maker&#8217;s stock price has roughly quadrupled since the start of 2019, but has slumped by 16% this quarter alone.<\/p>\n<p>Scion held only six stocks at the end of December. The hedge fund exited all of those holdings except Bristol-Myers Squibb last quarter, but added the likes of Alphabet, Meta Platforms, and Discovery to its portfolio.<\/p>\n<p>The slew of purchases helped to boost the total value of Scion&#8217;s US stocks (excluding options) by 122% to $165 million. The fund&#8217;s largest long positions as of March 31 were a $22 million stake in Bristol-Myers Squibb, roughly $19 million stakes in Booking Holdings and Discovery, and a $18 million stake in Alphabet.<\/p>\n<p>Scion didn&#8217;t immediately respond to a request for comment from Insider.<\/p>\n<p>It&#8217;s worth noting that Burry <a href=\"https:\/\/markets.businessinsider.com\/news\/stocks\/big-short-michael-burry-spotted-apple-warren-buffett-stock-investment-2021-3-1030186770?utm_medium=ingest&#038;utm_source=markets\" data-analytics-module=\"body_link\">trumpeted Apple<\/a> as a stock worthy of Warren Buffett in 1999 \u2014 about 17 years before the Berkshire Hathaway CEO invested in the company. Berkshire now counts Apple as the number-one holding in its stock portfolio, and Buffett <a href=\"https:\/\/markets.businessinsider.com\/news\/stocks\/warren-buffett-berkshire-hathaway-annual-shareholder-meeting-charlie-munger-stocks-2022-4?utm_medium=ingest&#038;utm_source=markets\" data-analytics-module=\"body_link\">recently revealed<\/a> he added to his company&#8217;s own position last quarter.<\/p>\n<p>Burry is <a href=\"https:\/\/markets.businessinsider.com\/news\/stocks\/big-short-michael-burry-elon-musk-tesla-gamestop-crypto-crash-2022-1?utm_medium=ingest&#038;utm_source=markets\" data-analytics-module=\"body_link\">best known<\/a> for calling and profiting from the collapse of the mid-2000s housing bubble, <a href=\"https:\/\/markets.businessinsider.com\/news\/stocks\/big-short-investor-michael-burry-scion-gamestop-stock-price-frenzy-2021-2-1030050393?utm_medium=ingest&#038;utm_source=markets&#038;utm_medium=ingest&#038;utm_source=markets\" data-analytics-module=\"body_link\" data-analytics-post-depth=\"80\" data-uri=\"80b6ec7f12181bcc80faaefe77592230\">paving the way<\/a> for the meme-stock craze by investing in GameStop and penning letters to the video-game retailer&#8217;s board, and <a href=\"https:\/\/markets.businessinsider.com\/news\/stocks\/big-short-michael-burry-elon-musk-tesla-cathie-wood-ark-2021-8?utm_medium=ingest&#038;utm_source=markets&#038;utm_medium=ingest&#038;utm_source=markets\" data-analytics-module=\"body_link\" data-analytics-post-depth=\"80\" data-uri=\"fe5984132720a060e58381f377488cb7\">betting against<\/a> Elon Musk&#8217;s Tesla and Cathie Wood&#8217;s flagship Ark Innovation fund last year.<\/p>\n<p>Over the past two years, Burry has singled out Tesla, GameStop, bitcoin, dogecoin, Robinhood, and the white-hot US housing market as examples of speculative excess in financial markets.<\/p>\n<p>Last June, the Scion chief\u00a0<a href=\"https:\/\/markets.businessinsider.com\/news\/stocks\/big-short-michael-burry-twitter-return-biggest-market-bubble-ever-2021-6?utm_medium=ingest&#038;utm_source=markets&#038;utm_medium=ingest&#038;utm_source=markets&#038;utm_medium=ingest&#038;utm_source=markets\" data-analytics-module=\"body_link\" data-analytics-post-depth=\"80\" data-uri=\"593c4a1494b42b366fc5ad1773c4bfbc\">warned of<\/a>\u00a0the &#8220;greatest speculative bubble of all time in all things&#8221; and\u00a0<a href=\"https:\/\/markets.businessinsider.com\/currencies\/news\/big-short-michael-burry-warns-meme-stocks-crypto-crash-coming-2021-6?utm_medium=ingest&#038;utm_source=markets&#038;utm_medium=ingest&#038;utm_source=markets&#038;utm_medium=ingest&#038;utm_source=markets\" data-analytics-module=\"body_link\" data-analytics-post-depth=\"80\" data-uri=\"73978ffe96452e1138e4355885063c33\">cautioned<\/a>\u00a0that retail investors were piling into meme stocks and cryptocurrencies before the &#8220;mother of all crashes.&#8221;<\/p>\n<p>Burry <a href=\"https:\/\/markets.businessinsider.com\/news\/stocks\/big-short-michael-burry-scion-stock-market-crash-q3-portfolio-2021-11?utm_medium=ingest&#038;utm_source=markets\" data-analytics-module=\"body_link\">slashed<\/a> his US stock portfolio from more than 20 holdings to only six in the third quarter of 2021, reducing its total value (excluding options) from almost $140 million to $42 million. The Scion chief <a href=\"https:\/\/markets.businessinsider.com\/news\/stocks\/big-short-michael-burry-scion-q4-stock-portfolio-cvs-bms-2022-2?utm_medium=ingest&#038;utm_source=markets\" data-analytics-module=\"body_link\">swapped out<\/a> three of his remaining six holdings in the fourth quarter, which helped to lift the value of his portfolio to $74 million at the end of December.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Michael Burry&#8217;s Scion Asset Management placed a bearish wager against Apple stock last quarter. &#8220;The Big Short&#8221; investor bought a bunch of stocks including Alphabet, Meta Platforms, and Discovery.<\/p>\n","protected":false},"author":498,"featured_media":1891718,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1477417","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_finder_url":"https:\/\/markets.businessinsider.com\/news\/stocks\/big-short-michael-burry-scion-stock-portfolio-apple-alphabet-meta-2022-5","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1477417","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/498"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1477417"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1477417\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1891718"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1477417"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1477417"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1477417"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}