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'Big Short' Investor Michael Burry Bets Heavy On Gold, Renewable Energy Stocks, Exits Amazon, Alphabet

Michael Burry, the legendary investor who famously predicted the 2008 financial crisis, has once again made headlines with his latest 13F filing for his hedge fund Scion Asset Management LLC. The first quarter of 2024 reveals a strategic recalibration towards physical commodities and renewable energy, while Burry shifted away from some tech giants. The total market value of Scion's 13F securities increased from $94.6 million to $103.49 million. The fund’s activity included five new purchases, additions to 11 existing positions, and complete sell-offs of 14 stocks. Top 5 Buys: A Golden Bet On Gold And Clean Energy Burry's top buys for Q1 2024 reveal a clear pivot towards physical precious metals and clean energy, underscoring his anticipation of rising value in these sectors. Leading the charge is the Sprott Physical Gold Trust ETV (NYSE:PHYS), with Scion increasing its position by $7.62 million, marking a 7.37% change in the portfolio. This substantial investment highlights Burry's confidence in gold as a hedge against economic uncertainty. The aforementioned gold fund has delivered a 16% return year to date, outperforming the broader stock market, as tracked by the SPDR S&P 500 ETF Trust (NYSE:SPY), which rose by 12%. Next in line is Cigna Holding Co (NYSE:CL), where Scion ...