Scion capital management (Micheal Burry) reveals a big $AAPL short.
Now while it might seem extreme, he might be playing a different angle than most think.
Now while it might seem extreme, he might be playing a different angle than most think.
Looking at the 13F.
The Finance exposure and Healthcare sector show a great boost, led by $BMY $BKNG and $DISK.
The Finance exposure and Healthcare sector show a great boost, led by $BMY $BKNG and $DISK.
The interesting part about the $AAPL short to me is that $GOOGL was put on too.
Putting $GOOGL on gives us the hint he is not betting against tech as a whole.
Now is he shorting $AAPL to bet on a recession? Would you buy a travel services company as one of your top holdings?
Putting $GOOGL on gives us the hint he is not betting against tech as a whole.
Now is he shorting $AAPL to bet on a recession? Would you buy a travel services company as one of your top holdings?
$AAPL seems to be a semi hedge against the portfolio, focused on the multiple/high valuation compared to its peers and in particular $GOOGL.
It hedges tech and the valuation compression while maintaining a tech exposure.
It hedges tech and the valuation compression while maintaining a tech exposure.
Basically we are seeing
· Long exposure
· Valuation compression bet
· Tech bet via $GOOGL
· A credit bet to fight higher cost ( $DISK)
· Reopening trade via $BKNG
· Healthcare trend
· Long exposure
· Valuation compression bet
· Tech bet via $GOOGL
· A credit bet to fight higher cost ( $DISK)
· Reopening trade via $BKNG
· Healthcare trend
*SCION ASSET MANAGEMENT,
Almost forgot.
$FB further reinforces bullishness as a whole on tech and a bet on valuations via short high multiples and buying what is perceived as fair valuations within the sector.
$FB further reinforces bullishness as a whole on tech and a bet on valuations via short high multiples and buying what is perceived as fair valuations within the sector.
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