If You Invested $1,000 In SPY And QQQ When Michael Burry Went Big Short In 2020, Here's How Much You'd Have Today
Portfolio Pulse from Chris Katje
Hedge fund manager Michael Burry has placed a bearish bet on the U.S. stock market, purchasing 40,000 puts on the SPDR S&P 500 ETF Trust (SPY) and the Invesco QQQ Trust Series 1 (QQQ). Despite this, the SPY and QQQ are up 15.1% and 37.4% year-to-date respectively. Some analysts, such as Marc Chaikin of Chaikin Analytics, believe Burry is wrong and that the market will not trend down.
August 22, 2023 | 7:08 pm
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POSITIVE IMPACT
Despite Michael Burry's bearish bet, QQQ is up 37.4% year-to-date. This could indicate a potential upward trend in the short term.
Michael Burry's bearish bet on QQQ is significant, but the ETF's performance year-to-date suggests a potential upward trend. This could impact the short-term price of QQQ.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
Despite Michael Burry's bearish bet, SPY is up 15.1% year-to-date. This could indicate a potential upward trend in the short term.
Michael Burry's bearish bet on SPY is significant, but the ETF's performance year-to-date suggests a potential upward trend. This could impact the short-term price of SPY.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100