According to the Michael Burry Stock Tracker account on social media, Burry has invested $890 million in puts against SPY, which tracks the S&P 500, a benchmark for large-cap U.S. stocks, and $740 million in puts against QQQ, an ETF following the NASDAQ-100 Index, representing 100 of the largest non-financial companies on thestock exchange. These short positions now purportedly make up an eye-catching 93% of his entire portfolio.
The short positions caught the attention of many crypto enthusiasts who believe that Bitcoin could act as a hedge if such a crash occurs. However, the announcement has met with a wave of scrutiny from social media users well-versed in the intricacies of financial reporting. Some noted that the data may be somewhat stale, sourced from a June 30 13F report, suggesting
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Source: CNBC - 🏆 12. / 72 Read more »