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Dr. Michael Burry making moves.

CrashCrash
in Other Investing
For-profit Prison company. Wow. We have too many criminals, and I've been a victim too often. I'm all for more prisons, so the perps can be KEPT INSIDE. But for-profit prisons are unethical. The very concept. To say nothing of the way they abuse and extort admittedly GUILTY pig-sucking shit-bag criminals.
https://www.reuters.com/business/big-short-fund-manager-burry-dumps-portfolio-buys-prison-stock-2022-08-15/

Comments

  • BaluBalu
    How big is his portfolio that a $4M investment made news?
  • LewisBraham
    @crash You might want to read this: https://time.com/5405158/the-true-history-of-americas-private-prison-industry/
  • yogibearbullyogibearbull
    Burry's portfolio may be $150-160 million. But he is mostly on the short side, is public about his moves and has made some good/lucky calls, so he makes news. In fact, Twitter is live with the news that he has liquidated 98% of his portfolio and this prison play is the only thing he owns now. Fodder for both bulls and bears.

    But the size of portfolio shouldn't matter. Exxon/XOM ignored Engine No 1 thinking of it as a bothersome fly that would go away. But look what happened.
  • larryB
    @LewisBraham. Thanks for sharing that article. Think they teach that in red states? American exceptionalism in action.
  • LewisBraham
    edited August 2022
    The history of private prisons is pretty shocking, and you would be 100% correct about it not being taught.
  • CrashCrash
    LewisBraham said:

    @crash You might want to read this: https://time.com/5405158/the-true-history-of-americas-private-prison-industry/

    Thanks, LB. +1.
  • BaluBalu
    edited August 2022
    I am not making the connection between an activist long position (Engine 1) and a non-activist long position (Michael Burry). When viewed in connection with his shorting, his $4M investment seems even smaller. Seems like an entertainment position for him if he is zero long. May be the news is that he is zero long.
  • CrashCrash
    BaluBalu said:

    I am not making the connection between an activist long position (Engine 1) and a non-activist long position (Michael Burry). When viewed in connection with his shorting, his $4M investment seems even smaller. Seems like an entertainment position for him if he is zero long. May be the news is that he is zero long.

    yes, that's the way i took it. zero long, with all that money.
  • BaluBalu
    @Crash,

    With his zero long, he definitely stands out among all the 13-Fs filed this month. Not sure what to make of it. Seems like he is not yet ready to short anything and does not see much upside to even buy calls. You can see a lot of the 13-Fs are slimmed down 50% or more on the equity side from a year ago but only he seems to be OK sitting on the sidelines and watching.

    I never pulled his 13-F before today or follow him, though I sort of know about him. It would be interesting to see his Q3 filing in November. Please do keep us posted about him.

    Thanks.
  • CrashCrash
    +1.
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