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Hi, welcome back to the Two SuperGuys Trade Stocks channel, I'm Dylan. And I'm Vinny. Michael Bury did something rather strange, in my opinion . He closed his short positions and further increased his stake in Lulu, despite previously saying he had too much of it in his portfolio. So let's see what he did.
I'll keep it short and to the point. It's fascinating to me because it's interesting to watch a person, whether you like them or not, but he's made incredible deals, even if things haven't been going so well lately. It's interesting to see someone fully follow through on their thesis, and I think it's a good lesson for new investors, including myself, to see even a very experienced player consistently double their bets.
I'll be doing these videos every week because he writes about Lululemon every week. I want to see what he does and what comes of it . This is Yes. In my opinion, it's just great. He will either be proven very right, or we will see the collapse of a legend over yoga leggings. Yes, through yoga leggings.
So I will continue to do this every week. I am very interested in watching this. Here's a post from 99. He made a few changes, okay? First, he reduced each of his positions. So, he reduced all short and long positions . He is holding cash. He sold his December 2026 puts on Nvidia and Palantir because he didn't want the time decay.
He still holds short positions. Oh, let me turn on the mouse. He still has short positions on 2027 bonds on Palantir and Qs. And he's still short Oracle, Palantir, Nvidia, all these stocks. Nvidia, CAT, SOXX, Caterpillar. Got it. So the size of his positions, even though he cut his longs, remained in the same order: Lululemon, Molina Healthcare, well, you see, there they are.
He cut every short position just as he did the longs. That leaves me with some cash. We know that Lululemon had a 17.4% share. It was in his briefcase. So we don't know how much he cut it. Of course? Then, two days later, I sold the position entirely to significantly increase my stake in another. This is This is two two days after two days.
48 hours. This is September 11th. Of course? We know that Flutter was a big position with an average price of around $98. So, he sold Flutter. We know that he was buying at 96. His average price was now 98. This was before he started pricing the position at 4–7%. So at that time it was probably 5–10%.
This was back in June. Okay, and then he bought again in August. So we know it was a significant proportion. We also know that he lost nothing in the sale. It's just that his average price was 98. He sold somewhere in the range of 98 to 101. So he probably made, I don't know, $50. I don't know. Apparently, he earned something or broke even .
Of course? So, he didn't lose anything , but he said he invested everything in one. We, of course, know where that went. Boom! I invested most of it in Lululemon here, under $100. I'll take your face off, Finny. I think Finny's baby is crying because he turned off the microphone. Yes , I guessed it, right?
Yes. Yes. OK. He said, "I suspect that Lululemon, for all its profitability and compressed valuation, may not be a public company for long." Of course? I don't have any information about this. But considering that the problems are mostly related to poor management, which is true. I believe there are others who can easily buy it and manage it much better, so I am in a hurry.
So he has a minimum of 17.4%, maybe he cut the stake a little bit and then poured in a bunch of cash. He probably invested over 20% of his entire portfolio in Lululemon. Madness. I asked him on Substack. I asked, "Hey, if you're so sure about the timing, why don't you take leaps options?" He liked the message.
But he didn't answer. Other people commented too. One writes: "Yes, I'm in leaps too." I wonder why he doesn't do that. Yes. Interesting. Then he bought some more ZTS. We'll see what happens, but the guy is very heavily betting on Lululemon. He is very confident. He stands his ground . As I said, I think it's very interesting to watch a trader of this level.
Whether you like him or not, he still made one of the most legendary deals of the last three decades. Hmm, it 's interesting to look at the step-by-step process of how he's constantly building up his position. Yes. We know that his average purchase price for Lululemon shares was around 118. So, his position is currently down about 20 %.
I don't know, after this new addition, we do n't know exactly how much he added. I'm just taking a percentage of what we knew he had in Flutter, and if he invested more than half in Lulu, which it seems he did, then that's at least 20+ percent of his portfolio. So, presumably, its average purchase price is now somewhere around 112-113.
Yes. This man has dedication to the cause. Dude, he's on the case. Are yoga pants the best investment after the great financial crisis? Michael Burry, maybe ? Yes. And I'll be honest with you , I follow him, not as actively as he is in this deal, but if he's willing to invest 20% of his portfolio, I'm willing to invest, well, not that much, but I'll invest some.
I don't have any recommendations based on the financials of this company, other than that they make a lot of money, and I've looked at all the mistakes their CEOs have made, they run things terribly and have done a lot of stupid things. So, I think the whole game is that either A: the new CEO will change something, or B: now he says that a private equity fund can buy them.
Absorption. Yes. OK. Listen, dude. If a private investor comes along, this is a good way to quickly earn 30%. Yes. I agree. So yes. I'm going to buy some more Lulu stock. Little. OK. A little more. See you in the next video.
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