famed investor Michael Burry, known for his 'Big Short' bet, has reiterated his stance that 'shorts are not forever.' This comes as he significantly reduced his bearish bets on the market by liquidating substantial put options on ETFs like SPDR S&P 500 ETF Trust (SPY) and ProShares UltraPro S&P 500 (UPRO). Burry had previously amassed over $160 million in put options in the third quarter of 2023, signaling a strong conviction in an impending market downturn, akin to his pre-2008 financial crisis positioning. However, his portfolio filing for the fourth quarter of 2023 shows a drastic reduction in these put options to just $22 million. This shift suggests a potential change in his outlook or a tactical adjustment, indicating that while he anticipates market volatility, he may no longer see an indefinite downward trend for the broader market.
원문 (English)
'Big Short' investor Michael Burry just repeated 'shorts are not forever' — here's why and what he sees coming next