"Big Short" Investor Michael Burry Has 10% of His Portfolio in 2 "Magnificent Seven" AI Stocks
Many people know Michael Burry from the book The Big Short, or the movie that was based on it. Both chronicled the story of a ragtag group of investors who bet against the U.S. housing market before the 2008-2009 financial crisis, shorting mortgage-backed securities at a time when everyone else thought housing was set to go up forever. Burry is still investing today, and runs Scion Asset Management.
In 2023's fourth quarter, Scion Asset Management reported two purchases that may surprise his value-investing followers: Amazon (NASDAQ: AMZN) and (NASDAQ: GOOG). These "Magnificent Seven" growth stocks have typically been shunned by value investors due to their high earnings multiples. Yet as of the end of 2023, they made up 10% of Burry's stock portfolio.
So why did Burry open positions in Amazon and Alphabet?
Source Fool.com
Alphabet Inc. C Stock
The stock is an absolute favorite of our community with 23 Buy predictions and no Sell predictions.
With a current price of 161.74 € Alphabet Inc. C is right around the predicted target price of 163 €.
