Michael Burry, who tweeted “buy” earlier this year but later apologized and said “I made a mistake,” closed out short positions he opened for the S&P 500 and Nasdaq 100. Barrie’s hedge fund company, Scion Capital, said in its notification to the SEC that it closed its selling positions in the SPDR S&P 500 ETF and the Invesco QQQ Trust Fund in late September.

It cost $1.6 billion

Bury’s recession investments were valued at approximately $1.6 billion. Of both indexes, the S&P 500 fell 3.6% and the Nasdaq 100 fell 3% in the third quarter. Therefore, Bari closed the position with profit. Compared to the beginning of the year, both the indices appear to be on the rise.

Short positions in both semiconductor chip ETFs

On the other hand, Scion Capital, which sold 76% of its investments in stock markets in the third quarter, also opened short positions in BlackRock’s Semiconductor ETF and iShares Semiconductor ETF.

Barry rose to fame after predicting the bursting of the housing bubble in the 2008 crisis. Anticipating the crisis in the sector in 2007, Barry shorted some risky real estate loan deals through credit default swaps. In this way, Buri acquired huge wealth.

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