Reported 4 days ago
Michael Burry, known for his 2008 housing market bet, recently reduced his investments in JD.com and Alibaba just prior to a significant rally in Chinese tech stocks driven by DeepSeek's AI advancements. While cutting JD.com holdings by 40% and Alibaba by 25%, his firm, Scion Asset Management, maintained other positions including Baidu and initiated a new investment in PDD Holdings. Despite the previous volatile conditions and economic concerns in China, the market has shown signs of recovery, leading to a re-evaluation of investments.
Source: YAHOO