"Sometimes, we see bubbles. Sometimes, there is something to do about it. Sometimes, the only winning move is not to play."
"The two companies he's shorting are the ones making all the money, which is super weird. The idea that chips and ontology is what you want to short is batshit crazy. He's actually putting a short on AI."
Michael Burry's Scion Asset Management purchased put options worth about $1.1 billion against Nvidia and Palantir, consisting of one million Nvidia shares (~$187 million) and five million Palantir shares (~$912 million) as of Sept. 30. The trades profit if those stock prices fall and signal a contrarian view on AI-focused equities. The disclosure coincided with a market pullback and rising VIX. Nvidia fell 4% after reaching a $5 trillion valuation, while Palantir slid 8% after surging over 360% in the past year and now trades near 250 times forward earnings.
Read at Business Matters
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