Postcards: What Burry... Bought
It's 13D season, so we're looking for surprises from hedge fund manager and crisis prognosticator Michael Burry.
Market Update: Seasonality is strong, and liquidity is strong. People keep asking how the markets continue to hold up, and we repeatedly say the same thing. Global liquidity (Howell’s reading is rising), geopolitical instability isn’t on the front page, and the magic monetary and fiscal policies are pumping away. It won’t end well, but the music is still playing for now.
Dear Fellow Expat:
As earnings season fades… we now get to find out what hedge fund managers bought ahead of the second quarter. That’s right. It’s 13D season… so everyone can run and chase stocks that hedge fund managers bought 45 days ago.
But these 13D filings can be a gold mine of intelligence for smart investors. They tell us what our financial titans are doing with their money. The SEC requires that any party that owns more than 5 percent of a company file a document reporting this.
It’s a good rule because it brings transparency to the market. The 13D is a calling card for hedge fund mag…
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