The star investor believes the current upside is a bear market rally and has sold all but one stock.
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Dusseldorf While the mood on Wall Street is moving in the direction of a party mood, star investor Michael Burry gives the warning. The Nasdaq technology exchange has risen almost 24 percent since its low for the year, but Burry warns of a false signal on the short message service Twitter. His stock portfolio has been adjusted accordingly: he sold all the stocks – only one item remained in the portfolio.
This emerges from documents from Burry’s hedge fund Scion Asset Management, which it has to submit quarterly to the US Securities and Exchange Commission and which were published on Monday evening. They reflect the status at the end of June.
Michael Burry sold all of his shares in Facebook parent Meta, Google parent Alphabet and the online travel portal Booking. The investor only got involved with the three companies a few months ago for a total of almost 55 million euros. And Burry parted ways with a lot more.
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