Burry – Financial Treason & Crime

TYLER DURDEN, 17 May 2021

Today is the deadline for 13F filings and while we already know what most of the marquee hedge funds have done during the quarter thanks to previously leaked investor letters (with the notable exception of the Soros Family Office which we learned over the weekend bought some $375MM of the Archegos shares liquidated by its prime brokers in late March), one filing was of particular interest, that of Scion Asset Management’s Michael “Big Short” Burry. And boy were there surprises.

First, there is not even a trace of Burry’s previous interest in Gamestop or any other “Reddit” stocks: it’s safe to assume that all profits there were monetized long ago. In fact, a comparison to Burry’s Q4 2020 13F reveals huge turnover, with just 8 of the fund’s legacy 23 positions as of Dec 31 still on Scion’s Books. Continue reading “Article: Michael Burry Reveals Massive Tesla Short, Huge Inflationary Bet”

04/16/2021

Article: David Einhorn calls out Elon Musk and Chamath Palihapitiya, defends GameStop champion Roaring Kitty, and blasts market regulators in a new letter. Here are the 11 best quotes.

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David Einhorn calls out Elon Musk and Chamath Palihapitiya, defends GameStop champion Roaring Kitty, and blasts market regulators in a new letter. Here are the 11 best quotes.

Theron Mohamed, 16 April 2021

The elite investor David Einhorn blasted market regulators, accused Elon Musk and Chamath Palihapitiya of juicing assets, and praised the GameStop champion Keith Gill in a letter to Greenlight Capital investors this week.

The Greenlight president also highlighted the “Big Short” investor Michael Burry’s exit from Twitter and pushed for greater scrutiny of Archegos Capital, the family office that blew up in March. Einhorn’s latest letter was obtained by ValueWalk. Continue reading “Article: David Einhorn calls out Elon Musk and Chamath Palihapitiya, defends GameStop champion Roaring Kitty, and blasts market regulators in a new letter. Here are the 11 best quotes.”

01/27/202104/24/2021

Article: Something ‘Systemically Wrong’ With GameStop Options Trading, Says Massachusetts Securities Regulator

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Something ‘Systemically Wrong’ With GameStop Options Trading, Says Massachusetts Securities Regulator

Shivdeep Dhaliwal , 27 January 2021

There is something “systemically” wrong in the options trading of the stock of GameStop Corporation GME 0.1%, according to Massachusetts securities regulator, Barron’s reported Tuesday.

What Happened: The Secretary of the Commonwealth of Massachusetts William Galvin told Barron’s that he has kept an eye on the stock. “I’m concerned, because it suggests that there is something systemically wrong with the options trading on this stock.”

The publication is awaiting further clarification from Galvin on the specific nature of the problems in options trading. GameStop shares soared over 134% in regular and after-hours trading and have risen over 678% since 2021 began fueled by a Reddit forum. Continue reading “Article: Something ‘Systemically Wrong’ With GameStop Options Trading, Says Massachusetts Securities Regulator”

01/11/202103/08/2021

Article: ‘Big Short’ investor says his big Tesla short is getting ‘bigger and bigger’

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‘Big Short’ investor says his big Tesla short is getting ‘bigger and bigger’

Pressboltnews, 11 January 2021

Short sellers, caught on the wrong end of a $38 billion hit in 2020, suffered “the largest yearly mark-to-market loss” Ihor Dusaniwsky of S3 Partners has ever seen. One of those under water on that trade: Michael Burry.

The investor, made famous in the book and film, “The Big Short,” for his prescient bet against the U.S. housing market, announced in early December that he was shorting Tesla at “ridiculous” levels. It’s been ugly for Burry and the rest of the shorts since then, with the Tesla shares up more than 44% in the past month. Over the past year, the stock has exploded for a gain of 820%, making CEO Elon Musk the richest man in the world. On Friday, Tesla stretched its record winning streak to 11 sessions in a row, closing at another record. Continue reading “Article: ‘Big Short’ investor says his big Tesla short is getting ‘bigger and bigger’”