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| Michael Burry |
Michael Burry has revealed in a regulatory filing a short position against Tesla worth more than half a billion.
Burry, one of the first investors to call and profit from the subprime mortgage crisis, is long puts against 800,100 shares of Tesla or $534 million by the end of the first quarter, according to the filing with the SEC. The movie "The Big Short" was based on his shorting of the subprime market.
Very interesting.
Burry is a very serious dude who knows how to do analysis. He obviously isn't buying into Elon Musk's smoke and tweet act.
That said, it is always dangerous on the short-side when the Federal Reserve is printing out so much money.
-RW
I have a friend who is a partner in a Private Equity firm. He is shorting Tesla and Penn National Gaming (Barstool). Not in a significant way like Burry, but he is usually good about spotting trends. The end.
ReplyDeleteImagine where Tesla would be without the subsidies and credits? They get handouts left and right.
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