cryptocurrency

Investor Michael Perry sells almost all of his stock holdings

  • Scion purchased 501,360 additional shares of Geo Group Inc.
  • The company had up to $165 million in US stock.

Scion Asset Management Company, Michael Bury investment business, he said in a filing with the US Securities and Exchange Commission (SECOn Monday, it sold all of its holdings of stock in the second quarter except for one.

Perry is widely seen as the number one investor to correctly anticipate and profit from the 2007-2010 US subprime mortgage crisis. Christian Bell He plays the character in a movie adaptation of “The Big Short,” a book written by Michael Lewis about the mortgage crisis.

The imminent collapse of the market

Alphabet (the parent company of Google), Meta Platforms (the parent company of Facebook), Bristol-Myers Squibb, Booking Holdings, and Cigna Corp. and Discovery, Global Payments, and Nextar media group It was among 11 US securities that Scion reduced its long holdings during the second quarter. At the end of the first quarter, the investment management business had up to $165 million in US stocks.

At the end of the second quarter, Burry had exactly one stock. Scion purchased 501,360 additional shares of Geo Group Inc. (NYSE: GEO). According to the company’s website, the Florida-based health care organization is a hot candidate in the areas of in-custody rehabilitation, post-release assistance, electronic monitoring, and community programs.

One of his tweets read:

“Unlike the abundant Twittersphere internet, there have been bear market rallies that exceeded the 50% retracement and led to lower declines. Noting that it depends [on] How do you define a bear’s march and/or cycle”.

The Big Short investor was tweeting about the impending crashes in the market. According to a tweet he posted on Sunday, the current rally on the Nasdaq, which is heavily inclined towards technology, is likely to be temporary.

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