Michael Burry vs. Cathie Wood. It's a battle of investment minds for the ages and one in which the investment thesis around disruptive technology trends in...
It’s a battle of investment minds for the ages and one in which the investment thesis around disruptive technology trends, in areas from innovation to space exploration, is in the crosshairs.
Burry, who shot to fame for predicting the subprime mortgage crisis in 2008 and was featured in the Michael Lewis book and movie “The Big Short,” is taking the other side of Wood’s bets.“To his credit, Michael Burry made a great call based on fundamentals and recognized the calamity brewing in the housing/mortgage market,” she tweeted on Tuesday.
iframe.twitter-tweet { width: 100% !important; } In a public filings on Monday, Burry disclosed that his firm, Scion Asset Management, as of the end of the second quarter, held bearish put options against 235,500 shares of Wood’s actively managed that are valued at over $30 million. Wood’s ARKK and other funds are sitting on huge gains since the pandemic-inspired bear market lows of last March. The performance has turned Wood into one of Wall Street’s star stock pickers but it also has made her a target for those who are wagering that a change in the complexion of the market, prompted by higher inflation and an eventual rise in interest rates, will pummel her strategies.
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