Michael Burry, the man who famously shorted subprime mortgages during the 2008 financial crisis and then got the movie *‘The Big Short’* made after him, was just wrong in a big way.
Back in August, Burry took a $1.6 billion short position on the S&P 500 and the Nasdaq 100.
Well, he was wrong. Very wrong.
This week, Burry *closed* this short position for an estimated loss of 40%. *Oof.*
*Well, guess what? He hasn’t learned his lesson.*
**This time, he’s shorting semiconductors.**
Burry’s fund, Scion Capital, newest position:
* Shorting 100,000 shares of BlackRock’s semiconductor ETF
These 100,000 shares have a notional value of $47.4 million and it’s betting against iShares Semiconductor ETF (SOXX).
*Shares of this ETF have gained +48.51% YTD*
**Other Semiconductor companies this year:**
* **Nvidia (NVDA)** shares have **gained +241.05%** YTD
* **Advanced Micro Devices (AMD)** shares have **gained +85.65%** YTD
* **Intel (INTC**) shares have **gained +50.58%** YTD
* **Taiwan Semiconductor (TSM)** shares have **gained +33.11%** YTD
Source for all this is [from here](https://www.blackswanstreet.com/p/michael-burry-opens-new-short-position-big-short)
by John-Wetter-2310
2 comments
That was the notional amount not the amount he shorted he bought puts. There is also no way to know what he closed it at because he isn’t required to file option purchase or sale price. This site looks like a bunch of nonsense.
He is picking his spots aggressively. I guess that is what he is paid to do.
If I thought the SP was gonna drop in the next few years, I’d just sit on extended duration treasuries.