- Scion bought yet another 501,360 shares of Geo Group Corporation.
- The firm had around $165 million in U.S. equities.
Scion Asset Management, Michael Burry’s investment business, stated inside a filing using the U.S. Registration (SEC) on Monday it offered all its stock holdings within the second quarter aside from one.
Burry is broadly considered because the first investor to properly predict and take advantage of the 2007–2010 U.S. subprime mortgage crisis. Christian Bale plays the type within the film adaptation of “The Big Short,” a magazine compiled by Michael Lewis around the subprime mortgage crisis.
Impending Market Collapse
Alphabet (parent company of Google), Meta Platforms (parent company of Facebook), Bristol-Myers Squibb, Booking Holdings, Cigna Corp., Discovery, Global Payments, and Nexstar Media Group were one of the eleven U.S. securities that Scion reduced its lengthy holdings in throughout the second quarter. In the finish from the first quarter, an investment management business had around $165 million in U.S. equities.
Following the 2nd quarter, Burry’s company had exactly one stock. Scion bought yet another 501,360 shares of Geo Group Corporation. (New york stock exchange: GEO). Based on the company’s website, the healthcare organization located in Florida is really a frontrunner within the fields of improved in-child custody rehabilitation, publish-release assistance, electronic monitoring, and community-based programs.
Certainly one of his tweets read:
“Contrary to the web and also the Twittersphere, there has been bear market rallies that eclipsed 50% retracement and brought to some lower low. Noting it depends [on] the way you define a bear rally and/or perhaps a cycle.”
“The Big Short” investor continues to be tweeting about impending market collapses. Based on his tweet from Sunday, the present uptick within the Nasdaq, that is heavily weighted toward technology, will probably be temporary.
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