Michael Burry predicted the 2008 mortgage crisis and is now betting $ 534 million on Tesla s crash Elon Musk s recent Tesla losses could be a sign that the investor s prediction that inspired the movie The Big Short could come true. Free Book Preview
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Email May 19, 2021 4 min read
This article was translated from our Spanish edition using AI technologies. Errors may exist due to this process.
Surely you place The Big Short (2015). He
predicted the 2008 mortgage crisis and is now so sure
of Tesla s falling stock that he made a bearish bet against
One of the hedge fund managers made famous by the Oscar-winning film
The Big Short has taken out a sizeable short position against Tesla.
In a regulatory filing yesterday, Michael Burry’s Scion Asset Management said it had bearish put options worth $534m against the electric car firm’s stock.
Put options give investors the right to sell shares at certain price in the future.
Burry, who was one of several investors who bet more than a billion dollars against the US housing market before its collapse, has long been sceptical of Elon Musk’s firm.
In a now-deleted tweet from December he revealed his firm’s original short position against the company, which is now worth $555bn.
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A new SEC filing shows that the Scion Asset Management, the private investment firm founded and led by famed investor Dr. Michael Burry, purchased about $10.5 million worth shipping stocks in the first quarter of 2020.
Burry was famously portrayed as one of the main characters in the 2015 movie
“The Big Short” about his early predictions and profits from the U.S. housing market crisis. The movie is based on a 2010 book,
“The Big Short: Inside the Doomsday Machine,” by Michael Lewis. His portrayal in film and successful investment strategies has earned him a cult-like following among many investors.
BERKELEY, CALIFORNIA: The family office run by Big Short investor Michael Burry has disclosed a short position against Tesla Inc worth more than half a billion.
Scion Asset Management said in a regulatory filing on Monday that it had bearish put options on 800,100 shares in Tesla as of the end of the first quarter that were worth $534 million. Put options give investors the right to sell shares at certain price in the future. One of the investors profiled in the book The Big Short and the film of the same name for betting more than a billion dollars against the U.S. housing bubble, Burry has been skeptical of Tesla s sky-high valuations.