Michael Burry, the investor who correctly predicted the collapse of the housing market in 2008, which was depicted in the blockbuster hit film The Big Short, has bet $1.6 billion on a Wall Street crash.
According to Security Exchange Commission filings released on Monday (August 14), Burry's fund, Scion Asset, Management, bought $866 million in put options against a fund that tracks the S&P 500, and $739 million in put options against a fund that tracks the Nasdaq 100.
This comes after Burry shared a tweet that read, "Sell," in January, leading many to believe that he was telling his 1.4 million followers to sell their stock. However, by March, he admitted that he made a mistake, writing, "I was wrong to say sell."
Source: CNN
