Scion Asset Management founder Michael Burry is known for betting against the housing market during the 2008 financial crisis. The trade, which netted him $700 million, was chronicled in the award-winning film Big Short. His contrarian approach and unique foresight also prompted trades like buying water assets, forecasting future scarcity, and investing in GameStop before it was a meme stock.
According to the hedge fund's 13F filing for the quarter ended June 30, Burry significantly increased his stake in Chinese internet companies like Baidu and Alibaba while completely offloading investments in gold and companies like Citigroup, First Solar, Vital Energy, Cigna Group, and Advance Auto Part.
