Investor Michael Burry, known for accurately predicting the 2008 subprime mortgage crisis, revealed that he had cut his bearish position against construction machinery manufacturer Caterpillar by 75%. Burry said the return on the put option holdings was close to 4 times the original, so he chose to lock in most of his profits while retaining a smaller position. Burry said in his Substack article: “The value of my Caterpillar put options has increased about 4 times, and today I cut my position by 75%. As a result, the current market value of this position has roughly returned to the dollar amount at the time I established this position at the end of the second quarter.”
Zhitongcaijing · 2d ago
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Investor Michael Burry, known for accurately predicting the 2008 subprime mortgage crisis, revealed that he had cut his bearish position against construction machinery manufacturer Caterpillar by 75%. Burry said the return on the put option holdings was close to 4 times the original, so he chose to lock in most of his profits while retaining a smaller position. Burry said in his Substack article: “The value of my Caterpillar put options has increased about 4 times, and today I cut my position by 75%. As a result, the current market value of this position has roughly returned to the dollar amount at the time I established this position at the end of the second quarter.”
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