this post was submitted on 18 Aug 2023
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Michael Burry, who founded Scion Asset Management, appears to have placed a large proportion of the fund's assets at risk.

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[–] overzeetop@lemmy.world 6 points 1 year ago (1 children)

I believe he has puts for a nominal stock value of 1.6b. That could be a 1M, 10M, or 100M in actual expenditure depending on his strike and expiry. The degenerates on wsb regularly place yolo calls or puts on millions or tens of millions in value for a few thousand dollars.

[–] SirMechsALot@lemmy.world 2 points 1 year ago* (last edited 1 year ago) (1 children)

I don't understand what you mean but I assume big money man knows how to make smart money choices.

[–] ArtyTester@artemis.camp 2 points 1 year ago

Big money man’s magic 8 ball was right once, but looks like lately the blue goo has drained out of it.