Burry Doubles Chinese Stocks, Expands U.S. Investments

Michael Burry, known for predicting the 2008 financial crisis, has significantly increased his investments in Chinese technology firms such as Alibaba, JD.com, and Baidu, while hedging these positions with put options. Scion Asset Management, Burry's firm, increased its Alibaba stake by 29% and doubled its JD.com holdings, making them the largest in the portfolio. The put options, equivalent to a substantial portion of these investments, are designed to protect against potential declines in stock values, reflecting a cautious approach amid volatile market conditions. The moves align with Beijing's economic stimulus efforts, which initially boosted Chinese equities, although gains have since moderated. Burry's Chinese holdings now represent the majority of his portfolio amidst a broader reduction in the number of stocks held. Additionally, Burry has increased stakes in U.S. companies like Shift4 Payments and Molina Healthcare.