Not sure if it's just the algorithm that fills my feed or if this was true overall, but bashing Michael Burry was definitely a popular activity on Blossom this week... All his 'short' positions typically get criticized, but $NBIS seemed to be the one that lit a fire under folks. I think I read he first shorted NBIS at ~$211 and I believe added to that in the $250's or $260's since. His call is obviously wrong so far, but much like investors averaging down long positions as share prices drop, Burry is doing the same on his shorts as share prices rise. I have no idea if Burry will end up being right on his shorts. What I do know is, he was heavily criticized, facing investor revolt, mockery from banks and isolation from peers as he bet against the housing market from 2005 -> early 2007. In 2008, he was proven right in a big way; to the tune of hundreds of millions of dollars. One investing 'flaw' I'm guilty of is almost always being early... I'm almost always early to buy, meaning stock drops after I initially buy, which is why I DCA slowly. I'm also early to sell, meaning stock usually continues to rise after selling, which is why I typically average out of positions as well. With all that said, I'm usually proven right, as my portfolio can attest to. Maybe this is why I'm not counting Michael Burry out on his short trades yet. Maybe Burry's not wrong, maybe he's just early. That's TBD but it the meantime, I'm definitely not mocking him...
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Satwinder Singh@thevalueinvestor · 7hEdited
I think Burry is getting way too much flak and being mocked for no real reason. Whether you agree with his trades or not his broader thesis about the current ai frenzy isn’t crazy at all. There’s a legitimate debate to be had about valuations, capital spending and whether the ai trade has gotten ahead of itself. What I find funny is seeing someone with a $10K portfolio making fun of a guy who is worth $300M plus and has successfully navigated some of the most difficult markets in history. That doesn’t mean Burry is automatically right, he can absolutely be wrong. But dismissing him because his trade hasn’t worked yet seems pretty shortsighted. I’d rather watch how the thesis plays out than laugh at someone taking a contrarian position. Investing has a long history of making the crowd look foolish.
Nicholas @nicholas1995 · 6h
Ya he over hated on this one for sure, most people talking shit don’t have a pinch of his success lol
DM @dmomo · 7h
OMG!?! I just looked at your portfolio, and the percentage gains are so large that it made me involuntarily cackle. Lol!
Max Penders@mjpenders · 7h
I think SOFI is such a strong short. I'm not a stock picker but I'm really considering it
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