'Big Short' Investor Michael Burry Doubles Down On Chinese Tech Stocks While Adding Protective Hedges
'Big Short' Investor Michael Burry Doubles Down On Chinese Tech Stocks While Adding Protective Hedges
However, in what appears to be a cautionary strategy, Burry has simultaneously established put options against these same holdings. Put options typically increase in value when the underlying securities decline, suggesting a hedging strategy designed to protect against potential market volatility.Michael Burry, the hedge fund manager renowned for predicting the 2008 financial crisis, has significantly increased his exposure to Chinese technology companies while simultaneously implementing protective measures against potential downside risks, according to regulatory filings.
邁克爾·伯裏，這位因預測2008年金融危機而聞名的對沖基金經理，已經大幅增加了對中國科技公司的投資，同時根據監管文件採取了針對潛在下行風險的保護措施。
What Happened: Burry's Scion Asset Management made several notable adjustments to its portfolio during the third quarter, with Chinese companies now representing its largest positions. The firm increased its stake in Alibaba Group Holding Ltd (NYSE:BABA) by 29%, making it the fund's largest holding valued at over $21 million as of September's end.
發生了什麼：伯裏的Scion資產管理公司在第三季度對其投資組合進行了幾項顯著調整，中國公司如今佔據了其最大的頭寸。該公司將其在阿里巴巴(臨時代碼)控股有限公司（NYSE:BABA）的股份增加了29%，使其成爲截至9月底基金的最大持股，價值超過2100萬。
In a similar move, Scion doubled its position in JD.Com Inc (NASDAQ:JD), elevating it to the fund's second-largest holding at approximately $20 million. The firm also expanded its stake in Chinese search giant Baidu Inc (NASDAQ:BIDU) by 67%, bringing the position to $13.2 million.
類似地，Scion將其在京東(JD.com Inc)（NASDAQ:JD）的持倉翻倍，使其成爲基金的第二大持股，約爲2000萬。該公司還將其在中國搜索巨頭百度(臨時代碼)（NASDAQ:BIDU）的股份增加了67%，使持倉達到了1320萬。
However, in what appears to be a cautionary strategy, Burry has simultaneously established put options against these same holdings. Put options typically increase in value when the underlying securities decline, suggesting a hedging strategy designed to protect against potential market volatility.
然而，在看似審慎的策略中，伯裏同時對這些持股建立了看跌期權。看跌期權通常在基礎證券下跌時增值，這表明這是一種旨在保護潛在市場波動的對沖策略。
The timing of these moves coincides with Beijing's recent economic stimulus announcements aimed at reinvigorating growth in the world's second-largest economy. While Chinese equities initially rallied in September following these signals, gains have moderated as investors await more concrete fiscal measures.
這些舉動的時機恰逢北京最近宣佈的旨在重振全球第二大經濟體增長的經濟刺激措施。儘管在九月份中國股市在這些信號後最初上漲，但隨着投資者等待更具體的財政措施，漲幅有所回落。
Beyond his Chinese technology focus, Burry has also increased positions in several U.S. companies, including Shift4 Payments Inc. (NYSE:FOUR), American Coastal Insurance Corp. (NASDAQ:ACIC), and Molina Healthcare Inc. (NYSE:MOH).
除了關注中國科技外，伯裏還增加了在幾家美國公司的持股，包括shift4 payments（NYSE:FOUR）、美國海岸保險corp（NASDAQ:ACIC）和Molina Healthcare Inc.（NYSE:MOH）。
Why It Matters: Burry's top three Chinese holdings have posted average gains of nearly 60% over a two-month period, according to market data.
重要性：根據市場數據，伯裏三大中國持股在兩個月內平均增長近60%。
Burry's moves are being closely watched by market participants, particularly given his track record. He gained widespread recognition for his prescient bet against mortgage-backed securities before the 2008 global financial crisis, a story later chronicled in Michael Lewis's bestseller "The Big Short" and its subsequent Oscar-winning film adaptation.
伯裏的舉動受到市場參與者的密切關注，特別是考慮到他的過往記錄。在2008年全球金融危機之前，他因對抵押貸款擔保證券的前瞻性押注而獲得廣泛認可，這一故事在邁克爾·劉易斯的暢銷書《大空頭》中詳細記載，並改編爲獲得奧斯卡獎的電影。
It's worth noting that these positions reflect holdings as of Sep. 30, as required by SEC regulations for funds managing over $100 million in assets. Given the 45-day reporting delay and Burry's active trading style, current positions may have already changed.
值得注意的是，這些頭寸反映的是截至9月30日的持有情況，這是根據SEC對管理資產超過10000萬的基金的規定所要求的。考慮到45天的報告延遲和巴里活躍的交易風格，當前頭寸可能已經發生變化。
The development comes as other prominent investors adjust their Chinese holdings. Billionaire investor David Tepper's Appaloosa Management recently reduced its Alibaba stake by 5%, though the position remains the fund's largest holding at 15.75% of its $6.7 billion portfolio.
這一發展發生在其他知名投資者調整其中國資產的同時。億萬富翁投資者大衛·泰珀的Appaloosa管理公司最近將其阿里巴巴的持股比例減少了5%，儘管該頭寸仍然是該基金67億投資組合中最大的持有，佔15.75%。
- Jim Cramer Says These 10 'Frothy' Stocks Are Up Over 200% YTD, Including Rocket Lab, Palantir, And Carvana
- 吉姆·克萊默表示這10只「泡沫」股票今年以來上漲超過200%，包括火箭實驗室、palantir和carvana。
Image Via Shutterstock
圖片來自Shutterstock。
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
免責聲明：本內容部分使用人工智能工具生成，並經Benzinga編輯審核發佈。
譯文內容由第三人軟體翻譯。
