Michael Burry, an investor, predicted inflation. The Big Short investor is known for correctly anticipating the US housing collapse and betting a billion dollars on it. In fact, he staked a billion dollars on the housing catastrophe. Scion Asset Management, led by Michael Burry, made many portfolio modifications in the first quarter of this year. Investors were taken aback by his $500 million short position in Tesla. During the second quarter of 2021, his hedge fund unloaded 15 stock investments. The Big Short investor, who believes the stock market has been pushed into a perilous position by speculative buying and borrowed money, is betting heavily on energy stocks. His hedge fund increased the energy sector’s weighting to 29.66 percent of the whole portfolio at the end of the first quarter.
Insider Monkey digs into Michael Burry’s top 10 cheap stock picks with a PE ratio of less than 20. Because of its PE ratio of 11.43, Scorpio Tankers is one of Michael Burry’s top 10 cheap stock ideas. The stock has risen about 100% year to date, owing to the lifting of travel restrictions and the reopening of the economy. Genco Shipping & Trading Limited shares have risen about 18% in the last month alone. The number of long hedge fund positions in Genco shipping has lately increased by seven, indicating that investors are positive about the company. At the end of March, the company was in 22 hedge fund portfolios, up from 15 in the previous quarter. Precision Drilling Corporation was also purchased by Big Short investors during the first quarter. The firm’s investment looks to be paying off since PDS shares have increased by about 138 percent year to date. Michael Burry’s top 10 cheap stock picks include the oil and gas drilling company Helmerich & Payne, Inc. Its stock price has risen 43 percent so far in 2021, despite the oil sector’s outstanding growth cycle. Michael Burry’s top 10 cheap stock ideas include Occidental Petroleum, an oil exploration and production firm. In the first quarter, the Big Short investor purchased shares worth $5.99 million. For more details, click 10 Best Cheap Stocks to Buy According to Michael Burry.
