‘Big Short’ investor Michael Burry piles into physical gold fund

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Michael Burry’s Scion Asset Management dumped positions in Alphabet Inc. and Amazon.com Inc. during the first quarter while buying shares of an exchange-traded fund that invests in physical gold, according to a filing with the Securities and Exchange Commission released Wednesday.

Burry rose to fame after his bet against mortgage bonds in the run-up to the global financial crisis was chronicled in “The Big Short.”

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In addition to selling his stakes in Alphabet and Amazon Burry also sold the entirety of his positions in Big Lots Inc. Booking Holdings Inc. MGM Resorts International Oracle Corp. and Warner Bros Discovery Inc.

On top of buying shares of the Sprott Physical Gold Trust Burry also increased his holdings of Chinese companies including Alibaba Group Holding Ltd. and JD.com Inc. Both companies trade in the U.S. as American Depository Receipts, or ADRs.

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www.msn.com/en-us/money/companies/michael-burry-s-scion-dumps-alphabet-and-amazon-buys-shares-of-gold-etf/ar-BB1mspqZ

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