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'Big Short' Investor Michael Burry Goes Hard on Gold, Invests $10 Million in Q1

'Big Short' Investor Michael Burry Goes Hard on Gold, Invests $10 Million in Q1


 Michael Burry, the famous investor who made his fortune anticipating the 2007 subprime mortgage crisis, made a big bet on physical gold. Bally's Scion Asset Management has purchased more than 440,000 shares of Sprott Physical Gold Trust, a closed-end fund that invests and holds assets in physical gold bullion, according to a regulatory filing. did.


Big-time short seller Michael Burry makes $10 million gold bid

Michael Burry, the investor famous for predicting the subprime mortgage collapse in 2007, made a big bet on gold's rise. At the end of the first quarter, through Scion Asset Management he purchased his 440,000 units of Sprott Physical Gold Trust for his $10 million. Did.


The Sprott Physical Gold Trust is a closed-end fund that holds assets in the form of physical gold bars, aimed at investors seeking exposure to gold without the hassle of handling and securing physical gold bars.. Sprott says it will only invest in physical gold bullion London Good Delivery (“LGD”) produced by London Bullion Market Association (LBMA) refineries.


Bory's bet highlights renewed investor interest in precious metals against a backdrop of geopolitical and economic conditions in global markets. Perry did not reveal his motivation for the investment, but other analysts believe there is still room for gold to rise. Financial analyst and gold enthusiast Peter Schiff recently predicted a "massive rally" in gold prices and urged investors to take advantage of what could be "the biggest bull market in precious metals in history." called out.


Gold market analyst Jan Nieuwenhuis said several factors, including increased gold purchases by central banks and rising stock market valuations, signaled the beginning of a multi-year gold bull market. acknowledged. Gold prices could reach $8,000 an ounce over the next 10 years, according to Newenhaus analysis.


Puri's investments also include Chinese online retailers such as JD.com and Alibaba. Citigroup, HCA Healthcare and Sprott Physical Gold Trust round out Berry's top choices, according to regulatory filings.

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