- the notional equivalent value for the Palantir puts was a whopping $912 million (equivalent to 5mm shares), while his Nvidia Put was worth a notional equivalent $186 million.
Unfortunately, we don’t know either how much premium Burry actually paid or the actual terms of the puts including strike price and maturity.
We should also note 2 CALL positions:
Pfizer notional value $153 million
Halliiburton notional value $61.5 million
*All we know is that Burry appears to once again be swinging for the bubble fences, similar to what he did during the housing bubble, and is shorting the two names that are most synonymous with the current market mania, similar to what he did in 2008 when he was shorting housing using CDS. *
We also know that since both names are sharply higher than where they were on Sept 30 (the date of the 13F), Burry has already suffered substantial losses on his positions, assuming he hasn’t already liquidated them (at a loss).
*And while some will declare that Burry putting his money where his bubble-bursting mouth is, is a sign of the top, we have two words of caution: back in 2005, Burry was early by about 2 years, and even though he ultimately got the trade right, the carry on the CDS crushed him. *
Second, the last time Burry tried to top tick the market was January 2023 when he blasted the one-word “Sell.”
The market is up 69% since then.
Uncle Warren’s Bershire-Hathaway is the safer play-just sitting on cash waiting for the bubble burst.