저자: 미상 · 외국인
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마이클 버리(Scion)의 2024년 3분기 13F 공시를 분석. 중국 기술주 알리바바·JD닷컴 비중을 크게 늘려 상위 보유 종목이 됨. 두 종목은 고점 대비 약 34% 하락했으나 장기 보유 패턴이 보인다고 해석. 신규 편입 종목(HCA, 오라클, 시티그룹, CVS 등)과 구글·아마존 편입, 반도체 ETF 청산을 소개. 중국 경기 부진(소비 둔화, 디플레이션)으로 인한 단기 리스크도 언급.
다듬은 글
Michael bu has doubled down his investment in Chinese Tech Giants AKA Alibaba and jd.com turning these stocks into his largest Holdings if Michael bur's name rings a bell it's likely due to The Big Short book and film about him he's the investor who made headlines in 2008 by making bold bets against the housing market which earned him over $100 million so what's michaelb up to these days well he's managing Scion Asset Management his own hedge fund that invests in all sorts of things now here's something really interesting every 3 months on has to file something called a 13f with the SEC it's like getting a sneak peek into bur's brain showing us where he's putting his money and what he thinks is going to happen next in the market isn't it exciting to think about what someone as Guru as bur is investing in right now in this video we're going to break down exactly what Michael bu has bought and sold what can we learn from his latest moves are there any insights we can apply to our own Investments stick around because we're about to dive deep into his latest 13f filing and see what nuggets of wisdom we can uncover ready let's get started now if you're wondering what a 13f filing is let me break it down for you real quick it's an SEC filing that all fund managers with over $100 million in assets under management have to file every quarter it's like getting a backstage pass to see everything in their stock portfolios by checking these filings quarter to quarter we can see what they've added what they've reduced any new buys they've made and what they've completely sold out of now if you're new to 13f filings here's a quick rundown it's an SEC requirement for for fund managers with over $100 million in assets every quarter they file these documents to show what's in their stock portfolios by checking these filings you can see what they're buying selling and adjusting from quarter to quarter so what's the scoop with bur's latest filing what trends or strategies can we uncover let's take a closer look at his recent trades and see if we can extract any valuable insights that might benefit our own investment strategies interestingly this challenging environment has caught the eye of several other long-term investors who potential in these beaten down Chinese tech stocks it all started with Charlie Munger who made headlin with his Alibaba investment then guy spear followed suit and monish PAB initially bought Alibaba before switching his Focus to 10cent Howard marks also jumped in with jd.com and now Michael bur has joined the fry by investing in both jd.com and Alibaba what's particularly intriguing about bur's moves is that he's known for his short-term opportunistic approach to investing however buying into these Chinese Tech Giants seems to suggest he's thinking long-term given that many of these stocks recoveries will hinge on improvements in China's macroeconomic environment it's fascinating to see bur's interest call it a bold bet but it looks like he along with other Guru investors might be playing the long game with his investments in China unlike many other countries China hasn't pumped huge amounts of stimulus into its economy after Co this has led to a sluggish economic recovery a consumer spending slump and even deflation people are feeling the squeeze housing prices are down Investments have lost value and the overall economic mood is pretty Grim what's particularly notable is that while people are still spending on Services they're cutting back on purchasing Goods this is a real issue for companies like jd.com and Alibaba which rely heavily on selling products even though these companies have solid business models they're struggling because of the tough economic environment in China so despite their strong fundamentals JD and Alibaba are facing significant challenges right now it's a compelling situation that sheds light on why bur's and investments in these Tech Giants is intriguing all right let's kick things off with what bur's been buying and selling we'll start with his new acquisitions he picked up 18 new stocks this quarter but let's zero in on his two biggest Holdings right now first up we've got jd.com which now makes up 6.11% of his portfolio but topping that just slightly at 6.15% is Alibaba what's really interesting is how much he's ramped up these positions he boosted his jd.com stake by a whopping 60% in Q4 and increased his Alibaba investment by 50% clearly bur isn't shy about backing these Chinese Tech Giants so what does this tell us it seems like bu has a strong belief in the potential of these companies for those who might not be familiar jd.com and Alibaba are huge e-commerce Giants in China similar to what Amazon is in the US however they faced some significant challenges in recent years just to give you a bit of context alibaba's stock was flying high at around $310 per share back in 2020 but it's been on a downward trajectory since then jd.com story is quite similar with its stock peaking around $110 in February 2021 both companies have seen their share prices drop by about 34% from those highs so this isn't just a minor dip they've both been hit hard the primary reason for this downturn it largely stems from macroeconomic issues in China yes there's a chance that these stocks might vanish from bur's portfolio next quarter in fact he might have already sold them by now but if you look at his investment history you'll notice something interesting while his portfolio is known for its Randomness and frequent changes certain stocks do show up repeatedly over time take Geo Group for example even though its performance has been all over the place bur has often held on to it the same goes for jd.com and Alibaba despite his frequent shifts in Holdings over the past year he's consistently included these two in his portfolio so what's the takeaway bur is indeed known for his unpredictable short-term trading moves but it wouldn't be surprising if there's a longer-term strategy behind his investments in Chinese e-commerce stocks there might be a deeper thesis at play reflecting his broader View on the potential of these companies so after ramping up his positions in Chinese tech stocks bur's next big moves are actually new additions to his portfolio here's a quick rundown of his major newbys HCA Healthcare now makes up 5.72% of his portfolio Oracle holds 5.57% City Group accounts for 5.44% CVS health is at 5.43% next our Media Group saw 33% reduction now at 5.39% but here's something really interesting in the number eight and number 10 spot spots we've got Google at 5.17% and Amazon at 4.82% this might be the first time Amazon has appeared in bur's 13f filings Google on the other hand is a bit more familiar though he hasn't held it consistently since before the pandemic it's fascinating to see some of these American Tech Giants making a comeback in his portfolio it raises some intriguing questions about bur's current view on the tech sector and what he sees as potential opportunities what's especially intriguing here is the backdrop of the past last year's performance of The Magnificent s those seven Tech Titans that have been making headlines with their explosive growth over the last year these Giants have seen their stock prices Skyrocket driven largely by the AI frenzy by early 2024 their average prices had surged an astounding 111% from where they began in 2023 this dramatic rise underscores not just the incredible impact of AI but also the broader Tech Revolution shaping the market given that the Magnificent 7 including amaz and Google is now often viewed through the lens of speculative Mania it's quite intriguing to see bur investing in them we all know bur isn't the type to jump on a speculative bandwagon he was famously critical of Tesla during its speculative Surge and even bet against it so his decision to buy into Amazon and Google at these high valuations suggests he sees something significant in these stocks despite the hype so these were the main highlights from Michael bur's latest 13f filing he's still backing Chinese Tech giants like JD commom and Alibaba his investment in these Chinese stocks signal a belief that they are undervalued or that the market is overreacting to short-term economic issues it's worth keeping an eye on how these Investments perform and whether they align with bur's long-term vision for the Chinese Tech sector he's put his money into the relatively pricey stocks of Google and Amazon and he's closed out his position against the semiconductor ETF that wraps up today's update now you have a solid idea into what the big short investor is up to in the investment world if you enjoyed this content and want to see more please like share and subscribe to our Channel your support really helps us grow stay tuned for our next video
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