The clickbaity titles are very misleading though. He didn’t bet $1.6B against the market, but it’s just that the value of the underlying shares ($QQQ and $SPY) against which he’s betting using puts are worth that amount. The puts themselves should be worth way less. Those puts still make up a combined 93.59% of his portfolio 🔥
Burry also got out of regional banks and Chinese stocks.
(Source: CNN)
He bought them in q2 2023 so he’s broke even at best so far. Spy is up 6.6% since 4/1 and down 1.5% since 6/30. QQQ is up 12.0% since 4/1 and down 3.1% since 6/30.
Yep but he still had them as of 6/30 and it’s still a very large bearish trade.