What famous actor put his life savings in the stock market?
Groucho Marx's son, Arthur, remembers how his famous father detested gambling, yet put his entire life savings in stocks.
Scion Asset Management's top holdings mirror Michael Burry's personal portfolio, with Chinese tech stocks like Alibaba and JD.com leading the way, followed by healthcare and financial sector companies.
Warren Buffett is widely considered the greatest investor in the world.
His firm purchased $866 million in put options against a fund that tracks the S&P 500 and $739 million against a fund that tracks the Nasdaq 100. Put options are contracts that give the right to sell at a predetermined price within a specific time frame.
In this article, we discuss Michael Burry's top stock picks heading into 2024. These include Alibaba Group Holding Limited (NYSE:BABA), JD.com, Inc. (NASDAQ:JD), and HCA Healthcare, Inc. (NYSE:HCA).
Net Worth. Michael Burry's estimated net worth is around $300 million. Burry became millionaire at the age of 29, when he sold part of his Scion Capital hedge fund to investors.
Certain billionaires made their fortunes in the stock market. The list includes John Paulson, Warren Buffett, James Simons, Ray Dalio, Carl Icahn, and Dan Loeb. Buffett is by far the richest person of these six famous investors, with a net worth of $116 billion.
Warren Buffett
Buffett might be the most famous investor of all. Known as the "Oracle of Omaha," he worked for and learned from Graham until the value investing pioneer retired.
| Rank | Name | Net Worth |
|---|---|---|
| 1 | Warren Buffett | $128.7B |
| 2 | Michael Bloomberg | $96.3B |
| 3 | Ken Griffin | $37.2B |
| 4 | Stephen Schwarzman | $36.8B |
Michael Burry, the “Big Short” investor who became famous for correctly predicting the epic collapse of the housing market in 2008, has bet more than $1.6 billion on a Wall Street crash.
How much is Michael Burry worth?
Burry's current net worth is estimated to be somewhere near $300 million. Burry's investment philosophy is firmly grounded in the principles of value investing, a strategy advocated by Benjamin Graham and David Dodd in their influential book, “Security Analysis".
As a whole, analysts are optimistic about the outlook for stock prices in 2024. The consensus analyst price target for the S&P 500 is 5,090, suggesting roughly 8.5% upside from current levels.
Burry likely will be best known for being one of the few investors who predicted the subprime mortgage crisis that lasted from 2007 to 2010. He shorted the 2007 mortgage bond market by swapping CDOs and profited mightily from it.
Warren Buffett, business magnate and investor
By 2011, Buffett had made $10 million from the 2008 financial crisis.
Michael Burry, who famously shorted subprime mortgages during the 2008 financial crisis, closed his bets against the S&P 500 and the Nasdaq 100 in the third quarter. But he also found another industry to short: semiconductors.
- Alphabet Inc. (ticker: GOOGL)
- Discover Financial Services (DFS)
- Walt Disney Co. (DIS)
- PDD Holdings Inc. (PDD)
- Occidental Petroleum Corp. (OXY)
- Match Group Inc. (MTCH)
- Grupo Aeroportuario del Sureste SAB de CV (ASR)
- Target Corp. (TGT)
The employees at Goldman Sachs are in disbelief of Michael's investment because they believe that the subprime mortgage market is stable and that Michael's prediction is unfounded. 5. Michael shorted around $1 billion worth of subprime mortgage bonds.
In contrast, most farmland investors expect a more modest 2.5% rate of return annually. The goal of farmland investment is to hold onto it because they are not making any more of it. Looking back, the average return on farmland has been around 12.5%, according to AcreTrader.
Michael Burry, the real-life fund manager behind Christian Bale's protagonist role in 2015's The Big Short, is probably best known for predicting (and profiting off of) the collapse of the mortgage-backed security market in the late aughts just prior to the Great Recession.
Eventually, Burry's analysis proved correct: He made a personal profit of $100 million and a profit for his remaining investors of more than $700 million.
How much did Scion make in 2008?
Burry made his bet through his hedge fund, Scion Capital. His investors thought the play was reckless, and he endured vicious criticism -- up until it eventually paid off when the housing market crashed in 2008. Burry took home an estimated $100 million, and Scion's investors pocketed a whopping $700 million.
It was Bezos, not Musk, who a few years ago was expected to become the world's first trillionaire, and who now isn't expected to join the club until 2030, some six years after Musk. The volatility of the trillionaire race makes it one to keep an eye on.
- Microsoft (NASDAQ: MSFT)
- Apple (NASDAQ: AAPL)
- Nvidia (NASDAQ: NVDA)
- Alphabet (NASDAQ: GOOGL) (NASDAQ: GOOG)
- Amazon (NASDAQ: AMZN)
- Meta Platforms (NASDAQ: META)
- Tesla (NASDAQ: TSLA)
- Coca-Cola. (NASDAQ: KO) ...
- Altria. (NASDAQ: MO) ...
- Amazon.com. (NASDAQ: AMZN) ...
- Celgene. (NASDAQ: CELG) ...
- Apple. (NASDAQ: AAPL) ...
- Alphabet. (NASDAQ:GOOG) ...
- Gilead Sciences. (NASDAQ: GILD) ...
- Microsoft. (NASDAQ: MSFT)
Rakesh Radheyshyam Jhunjhunwala (5 July 1960 – 14 August 2022) was an Indian billionaire investor, stock trader, and Chartered Accountant. He began investing in 1985 with a capital of ₹5,000, with his first major profit in 1986.
