Michael Burry Increases Short Bets as Nasdaq-100 Hits Record High
The investor known for predicting the 2008 financial crisis is betting against chip stocks, with Chinese production capacity seen as a key factor for the memory sector's cycle.
Investor Michael Burry has added to his short positions as the Nasdaq-100 index hit an all-time high, with his bets targeting semiconductor stocks, according to a report from CNBC.
The report ties Burry's wager against chip stocks to questions about whether cyclicality will return to the memory chip sector following what it describes as a historic boom.
Chinese Production Capacity in Focus
Chinese production capacity is identified as a key factor that could determine whether the memory sector experiences a downturn after its recent historic growth period.
The report does not specify the size of Burry's short positions, the particular companies targeted, or a timeline for when any cyclical shift might occur.
Burry, known for his prediction of the 2008 financial crisis, has a track record of making high-profile contrarian bets against segments of the market he views as overvalued.
Sources
- Michael Burry adds to shorts as Nasdaq-100 hits all time high. Why he's betting against chips — CNBC — Top News
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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