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Michael Burry stayed quiet, bet big on Chinese tech giants, and saw one stock wager pay off in 2024.
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The investor of “The Big Short” fame boosted his Alibaba and JD.com stakes and bought into Baidu.
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The RealReal stock has surged more than sevenfold since Burry invested in early 2023.
Michael Burry kept a low profile, plowed money into three Chinese tech giants, and saw a long-standing stock bet pay off in 2024.
Burry is best known for predicting and profiting from the collapse of the housing bubble in the mid-2000s. His contrarian wager was immortalized in the book and film “The Big Short.”
He’s also famous in financial circles for predicting market crashes and recessions, investing in GameStop long before the video-game retailer became a meme stock. He also bet against Elon Musk’s Tesla, Cathie Wood’s flagship Ark fund, Apple, a microchip fund that included Nvidia, and the S&P 500 and Nasdaq 100 indexes in recent years.
Burry goes by Cassandra B.C. on X — a nod to the priestess in Greek mythology who was cursed to utter true prophecies but never to be believed.
In years past, Burry frequently shared his thoughts on the markets, economy, and other subjects on Twitter.
For example, in summer 2021, he warned of the “greatest speculative bubble of all time in all things” and told buyers of meme stocks and cryptocurrencies that they were careening toward the “mother of all crashes.”
Burry even caught Musk’s attention with the Tesla and SpaceX CEO calling him a “broken clock” in late 2021. Moreover, the investor set alarm bells ringing on Wall Street in early 2023 with a one-word post: “Sell.”
However, Burry didn’t post at all last year and hasn’t shared anything with his primary account’s 1.4 million followers since April 2023.
Burry’s Scion Asset Management revealed in a first-quarter portfolio update it had boosted its bets on Alibaba and JD.com, two Chinese e-commerce titans. It also established a small position in Baidu, a search giant that’s been dubbed the “Chinese Google.”
The Scion chief