Michael Burry Loves These 2 Chinese Stocks. Should You?
Michael Burry has made quite the name for himself in the investing world thanks to his legendary call prior to the Great Recession that the housing market would collapse. Burry proceeded to buy credit default swaps on mortgage bonds right before the Great Recession and made a killing when the housing bubble did eventually pop.
Today, Burry is still investing at his firm, Scion Asset Management, which owned just nine stocks at the end of 2022. Two of them are Chinese stocks. Should you consider investing in them? Let's take a look.
Of Scion's roughly $46.5 million portfolio, the large Chinese e-commerce platform Alibaba (NYSE: BABA) makes up about $4.4 million, or roughly 9.46%, of the total portfolio. In the fourth quarter of 2022, Scion increased its position in Alibaba by about 50,000 shares.
Source Fool.com
