Michael Berry, maybe, gave up some of his biggest shorts – at least, at the moment.
Scion Asset Management Company, which Berry founded and leads as CEO, as of the end of September, it had reduced only a few positions, according to Monday's report.
Among the transactions, which the firm closed in the third quarter, there were bets against the flagship fund ARK Innovation ETF Katie wood, Elon Musk's Tesla and the largest Fund Treasuries – iShares 20+ Year Treasury Bond ETF. but, it's worth remembering that Barry can still bet against them., using over-the-counter options, that do not appear in such documents.
Bubble Warning
Berry gained fame with the release of the film "Short Game", which is based on his prophetic deal against mortgage-backed securities during the financial crisis 2008 of the year. The role of Barry was played by Christian Bale.
At the end of June, Scion made bearish bets on about 235 000 shares of Katie Wood's main ETF (ticker ARKK), about 1,9 million shares of Treasury ETF (TLT) and more 1 million Tesla shares, as follows from the September report.
In the third quarter, ARKK fell by more than 15%, while TLT has barely changed, and Tesla has grown by 14%.
After that, as it became known about his bets against Ark, Wood replied, what, in her opinion, he doesn't understand the fundamentals of her investment..
