Michael Burry Investment Strategy - How he does it

요약 보기

마이클 버리의 투자 전략을 분석한 영상이다. 결론: 버리는 저평가 종목에 안전마진을 두고 투자하며 원금 손실 회피를 최우선으로 한다. 버리의 배경: 2008년 주택시장 공매도로 큰 수익을 냈으며, 벤저민 그레이엄의 가치투자 철학(『증권분석』, 『현명한 투자자』)을 따른다고 설명한다. 핵심 투자 원칙: 1달러를 50센트에 사는 것이 목표이며, 인기 없고 저평가된 기업 중 잉여현금흐름이 남아 있는 곳을 매수한다. 경영진의 개선을 통한 촉매를 기대한다. 투자 방식: 안전마진과 하방 보호를 중시하며, 원금 손실 회피가 주된 목표다. 시가총액 규모나 산업에 구애받지 않고 가치가 있으면 투자한다. 가치 평가 기준: 기업가치(EV) 대비 EBITDA 비율로 1차 스크리닝하고, 잉여현금흐름과 순부채 최소화를 중시한다. PER 등 가격 비율과 ROE는 상대적으로 무시하는 편이라고 한다. 포트폴리오 구성: 12~18개 종목을 여러 산업에 분산하며, 가치 조건이 맞으면 거의 항상 주식을 보유한다. 매매 타이밍: 52주 신저가 대비 10~15% 이내에서 매수하며, 가격 지지선을 확인한다. 단기간 40~50% 상승 시 빠르게 매도하고, 50% 하락 시에도 손절하는 경향이 있다. 언급 종목 예시: 보잉(매수 후 매도), 게임스탑(매도), 배드배스앤비욘드(저평가 매수 사례), 페이스북(매도). 일부 종목은 재매수하기도 했다. 결론: 버리는 매우 경험이 많고 원칙이 명확하지만, 영상 설명상 따라 하기는 어렵다는 평가다.

다듬은 글

※ 자동 자막 원문(다듬기 전)

01. michael birdy's investment strategies and we all know who michael bury is remember back in 2008 he short sell the housing market and he was right he generated million dollars for his investors and for himself and so this guy has a high reputation in the stock market he knows what he's doing and a lot of people want to know what does michael bury do and how does he invest and this is what we're going to do we're going to find out in this video before we get into 'm going to be providing a lot of content and please follow and put your notifications on and today we're going to get into the video let's go so michael bury was heavily influenced by ben graham and remember ben graham is the godfather of value investing he wrote the book security analysis an intelligent investor and warren buffett marvels over these two books so that's how you know how good of investor he was and he was ahead of his time during his days when he was investing in the stock market so michael berry talks about reading security analysis and this book is all about buying dollar bills for 50 cents so that's exactly what michael bury's looking for when he's going out into the market he's looking for these cheap companies companies that are unpopular the people don't like it people like kind of left it over on the side and when he finds these companies that he can kind of have still have a little bit of free cash flow they still have a little juice in them he buys them right so when he buys these companies he's looking for like the management to kind of like squeeze the juice out of it kind of get a little catalyst going and get a little pop in the stock market because he knows it still has a little bit of potential so a strategy is basically buying companies with a margin of safety and then when he invests in them he wants the management to kind of polish them up a little bit make them look good so he can actually sell when they come back to life and when he does this he focuses on the downside he has the downside protection and that's his majority how he's thinking he doesn't want to lose any capital so that's his main strategy no loss of capital margin of safety think about the stocks that he bought he bought boeing he bought like gamestop he bought bed bath and beyond and those are so undervalued stocks they were kind of on the last legs but he knew that they're gonna probably he can squeeze some out of them and they actually grew like tenfold so he got like a little nice gang on those shares he's really active he like depends on what he does some stocks he's very active some starks he just wants to hold it all depends on what company it is and if the stock has that like margin of safety if he finds that he can still get value out of it and that's what it's all about finding stocks with value and squeezing that bit of value out of those stocks so michael brewery has a big circle of confidence it doesn't matter where the stock comes from it can be micro cap it can be large cap it can be a tech non-tech cruise ships it doesn't matter he makes sure he has a broad understanding of the market and long as he can find value in it he's going to invest in it how does he determine the discount he usually focus on free cash flow the enterprise value market capitalization minus cash plus debt he will screen through these large numbers of companies by looking at the enterprise value ebitda ratio though the ratio he's willing to accept tends to vary with the industry and its position in the economic cycle if the stock passes the loose screen then he'll look harder to determine the specific price and the value of the company he tends to ignore the price ratios return on equities deceptive he prefers minimal debt and he's careful to adjust book value to a realistic number he likes to hold 12 to 18 different companies diversified through different industries and majority of these industries are actually depressed and he likes to be fully invested in the market and when he does this it doesn't matter what it is it can be a asset play it can be arbitrage opportunity it can be a long-term investment it just all depends on the value and depends on what he sees in the market so when brewery buys he likes to use some type of technical analysis he uses the analysis to determine when to buy the stock specifically he prefers to buy within 10 to 15 of the 52 week lows and he makes sure it offers him some pricing support michael burry tends to sell a lot it doesn't matter what it is if it makes a quick 40 or 50 pop in price he's quickly to sell these stocks or even if the stock goes down and makes it 50 down he's gonna sell the stock he's doing this because he doesn't want any one stock to hurt his stock investments he doesn't want that one blow up and without one blow up hurts his whole stock holdings it's just gonna be huge massive losses so he's quick to sell and you can always see this when he's making investments he sold out a game stop he sold out of boeing he sold out of facebook he sold out of a lot of companies and sometimes he even buys back into these companies so he's just really all over the place when he's making his investments if he finds a quick 45 pop he sometimes he just sells it depending on the company so if you want to follow michael bury's investment style it would be pretty hard he's very experienced and knows what he's doing so guys peace