$1.7 B Short

To what exactly are you referring? To Burry buying options? The most he can lose is the price of the option if he lets it expire without exercising it. On the other hand, if the index did plummet, he could make a boatload.

 

It’s interesting to see the stocks Burry remains long in:

SCION ASSET MANAGEMENT, LLC Top 13F Holdings

 

A different article tells a different story. His fund owns the SPDR S&P500 ETF, as well as the Invesco QQQ NASDAQ100 ETF. At the end of June, he had purchased PUTS for all 400,000 shares of the combined ETFs.

Depending upon when he purchased the PUTs, the NASDAQ is at almost the exact same number as it was by June 30th. Further, none of the articles mention the strikes or the expiration dates, so who knows how long dated these PUTS are?

To me, this just seems like a prudent purchase of protection against a slowing Chinese economy, slowing US economy and persistent US and European inflation.

'Big Short' investor Michael Burry's new bets against the S&P 500 and Nasdaq-100 are no surprise. Here's why.

 

Burry closed his $1.7B short position today for a 40% loss.

 

Ouch. Good news though.

 

I mean…..how much freaking money does a person have make, to be satisfied, and somewhat content in life?
Wouldn’t have bothered me if he lost it all tbh.

 

Only a libbie would ask that question.
There’s only one reason I can think of that you feel this way.
Envy.
SMH.

 

Quick search estimates his personal worth is $1.2B.

So sounds like he actually just lost a bunch of other people’s money on this bet. Hope that’s only a modest part of his portfolio.

 

There is at least one other possibility besides envy that leads to such questioning.

A basic knowledge of historical events, for one, might lead a person to examine contextual parallels with current events. I’m sure even you have heard the phrase “those that do not learn history, are doomed to repeat it”.

 

It’s why you guys vote dem, you think people can make too much money. You want the govt to fix that problem for you.

 

I think it's actually a legitimate question, although the reason for asking could certainly be based on bias or envy.

To answer trips, at least as it seems to apply in Burry's case given what's known about him, I don't think the money itself is the motivation as much as the challenge and reward from intensive and exhaustive research to beat large sections of the market, combined with investing being a stimulating outlet for the obsessive tendencies inherent in his diagnosed personality disorder.

 

This story is a little confusing because according to everything I see, the guy is worth around $1.2Billion and his assets under management are more like $200-300 million…

So not sure how he just “lost” a billion. Unless he just about wiped himself out with this short bet?

 

I don't think he lost "much" money. Those short positions costs less than 30m. I suspect he lost 40% of roughly that amount. But, that does not make a good headline.

 

My only concern with people compiling “too much money” is when it reaches a threshold people can effectively buy the government. A concern that is well founded in our own history, never-mind world history.

Even the propaganda sources which cater to morons and rubes try to tie everything back to George Soros. Why do you suppose that is?

 

Could be, if the $1.7B is just the “controlling interest” he had via options or other leverage.

 

'Big Short' Michael Burry's bets against S&P 500 and Nasdaq pay off (msn.com)

Also, he's making tons of money in other sectors of the market.

Michael Burry’s largest stock position surged 25% in a week (finbold.com)

He's still able to pay the power bill.

 

Newsflash…
The world is and has always been bought.
Also, you should know something about this Santa fellow.

 

Cool. A defeatist. We’re all doomed and nothing can be done. Nor should anything be done. Guess you just go back under that rock.

 

Looks like you’re the one who just entered the real world. The world has always operated this way and there is no doom. It’s just the way it works for humans.
One of us is naive about it.