24.5 C
New York
Sunday, May 26, 2024

Michael Burry’s $1.6 billion bet against stock market is backfiring

Michael Burry’s $1.6 billion bet against stock market is backfiring

In a dramatic return to the financial spotlight, legendary investor Michael Burry, famed for his eerily accurate prediction of the 2008 market crash, seized headlines once more in August.

On August 14, SEC filings unveiled his bold move to short the US stock market, with a purchase of 40,000 put options contracts tied to SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ Trust (QQQ) funds, boasting a substantial notional value of $1.6 billion. 

More here >

This post was originally published on this site

Subscribe
Notify of
0 Comments
Inline Feedbacks
View all comments

Stay Connected

157,163FansLike
396,312FollowersFollow
2,300SubscribersSubscribe

Latest Articles

0
Would love your thoughts, please comment.x
()
x