Michael Burry’s Scion Asset Management Turns Bearish on NVIDIA and China-related Stocks in the First Quarter

Thoughts on this aggressive pivot?

https://www.marketwatch.com/story/michael-burrys-scion-bets-against-nvidia-turns-bearish-on-chinese-stocks-440f3d02

> Michael Burry’s Scion Asset Management made some major changes to its portfolio during the first quarter, according to a filing with the Securities and Exchange Commission released on Thursday.

> Burry — who rose to fame after being featured in the Michael Lewis book “The Big Short” and its subsequent Hollywood film — has opened a big bet against shares of Nvidia Corp. NVDA -0.38% using puts, the filing showed.

> His firm also bought bearish puts on shares of Chinese stocks which he had previously owned outright, including Alibaba Group Holding Ltd. By BABA -7.57%, Baidu Inc. BIDU -3.58% and JD.com Inc. JD -3.86%.

> The only long position remaining in Burry’s portfolio, according to the filing, was a bet on shares of Estee Lauder Cos. Inc. EL -0.69%.

> The SEC requires all institutional investment managers that hold over $100 million in certain securities to disclose their positions via quarterly filings known as 13-Fs.