high interest rates in 2008. mortgage famous for predicting the crisis and profiting from it. Michael Burry, continues to be on the agenda with the moves he makes.
Michael Burry, the founder of Scion Asset Management, whose story is told in the movie “The Big Short”, stated that he sold all the shares in his portfolio, except for one share, on Twitter.
The sole stake in Burry’s portfolio is owned by GEO Group Inc, which invests in private prisons and mental health facilities in the US, and the position was valued at $3.3 million, which it acquired in the second quarter.
GEO Group shares were up nearly 10% yesterday. Burry owns 501,360 shares.
Burry’s portfolio included shares in large companies as of the second quarter. These companies included hedge fund Alphabet, Apple, Facebook’s parent company Meta Platforms.
Official Update 🚨:
Michael Burry has sold out of every position except for $3.3M shares of $GEO
GEO Group is a C corp that invests in private prisons & mental health facilities including illegal immigration detention facilities.$GEO is up 10% today.
— Michael Burry Stock Tracker ♟ (@burrytracker) August 15, 2022
Michael Burry, whose main profession is a doctor, made statements about the bear market in his post in July.
Noting that the decline in the crypto money markets may be halfway through, Burry stated that the global markets went through more than one compression.
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