저자: Red—출연자소속미상;마이클버리는영상속분석대상인물 · 외국인
요약 보기
마이클 버리의 2020년 2분기 포트폴리오 분석: 자산의 약 71%를 콜옵션에 투입한 공격적 베팅이라는 결론. 포트폴리오 구성 - 주식 비중 28%, 콜옵션 비중 71% 이상으로 콜옵션 중심 구조. - 콜옵션은 행사가에 살 권리를 사는 것으로, 최대 손실은 프리미엄, 수익은 상승분만큼 무제한이며 레버리지 효과가 있다고 설명. 주요 보유 종목과 해석 - 최대 비중 구글(알파벳): 콜옵션 약 1억1,300만 달러, 포트폴리오의 35%. 광고 사업 회복과 구글의 장기 경쟁력에 대한 강한 베팅으로 해석. - 페이스북: 약 2,100만 달러 콜옵션, 소셜미디어 광고 시장 낙관. - 부킹홀딩스: 코로나19로 실적 타격을 받았으나 회복 기회로 판단. - 골드만삭스: 약 1,400만 달러 콜옵션, 과거 주택시장 공매도 거래 상대방이었다는 점을 언급. - 웨스턴디지털(WDC): 1,190만 달러 규모, 저장장치 업체로 소개. - JP모건·뱅크오브아메리카: 대형 은행 두 곳에 각 약 800만 달러 투자. - 윈리조트·라스베이거스샌즈: 카지노·리조트 업체 두 곳에 베팅, 특히 마카오 실적 부진 대비 주가 침체 구간 매수 가능성 언급. - 풋록커(FL), 코를보(QRVO) 등 소형 포지션 언급. 주요 리스크 - 코로나19로 인한 실적 불확실성이 여러 종목에 공통적으로 존재. - 옵션 비중 35%는 일반적으로 권장되지 않는 수준으로 평가. 출연자 전망 - 버리가 광고·은행·리조트 등 여러 산업 회복을 예상하고 있다고 추정. 명시적 목표가나 기간은 제시되지 않음. - 영상 자체는 교육·정보 전달 목적이며 특정 종목 매수 권유 성격은 약함.
다듬은 글
what if i told you michael bury of the big short the movie had committed 35 of his portfolio to one stock option let's get into it so here i have the makeup of investor michael bury of scion capital management his hedge fund what his portfolio looks like so he has 28 of his portfolio in stock equity so like normal common stocks but then he has over 71 percent of his portfolio in call options exclusively in call options so that's a crazy crazy portfolio to be having so he obviously believes that there's going to be a big recovery so let's see here let's review what a call option is what a put option is and what a buyer has the right to do so a buyer of a call option has the right to buy stock at a certain price so michael bury what he's been doing and he's been buying call options so he's saying i want to have the right to buy a stock at this certain price so usually one call option equates to control of 100 shares that's the way for all options so um put options he doesn't own any of those but that's the right to sell at a certain price right to sell so michael bury is obviously very bullish because we can see here this is how a call option works this is how you make money so there's a strike price and that's the price i have the right to buy a stock or whatever it is you have the option on at a certain price so say it was ten dollars right here is our strike price you have the option to buy at 10 you also pay a little bit of premium that's this area right here that's the premium that you pay for that option to buy and then you can only lose as much as you paid for the option you see you only that's your maximum loss but you can have unlimited profit if the stock continues to go up so as the more the stock goes up the more profit you get from that option and this is actually a way to introduce leverage to your portfolio by using options it introduces leverage because with one option you can control 100 shares without actually owning 100 shares so here i have all of his stock options all the call options indoors portfolio listed and his the market value and the percentage of the portfolio and then on the left i have the stock and the symbol and i'm going to be revealing to you his top holding so stick around 35 percent of his portfolio valued at over 113 million dollars so stick around we're going to start at the bottom first stock corvo inc so corvo ticker qrvo is a semiconductor company uh they have been involved in a lot of different operations recently but the kovid 19 pandemic has introduced a lot of uncertainty to their business so we'll see how it goes from here next stock win resorts so win resorts limited ticker wynn is a casino company so they operate in las vegas and in macau which is off of china a substantial amount of their profits come from that macau resort which has not been doing well as of late but the share price over the past quarter has been depressed so maybe this is a good pick from him in the end next pick foot locker inc so i'm sure you know about foot locker ticker symbol fl his position size is 5 million 1.66 percent of his portfolio this company they they sell shoes you all probably know about it they've actually seen relatively strong sales despite the pandemic and i'm assuming he got this option at a very very good price so we'll see how that does for him through the future next ticker las vegas sans corp ticker symbol lvs again like wynn resorts they operate casinos and hotels las vegas sands primarily operates in las vegas unlike wynn resorts so that's an interesting double play there next pick jpmorgan chase and co so ticker symbol jpm valued at eight million dollars 2.57 percent of this portfolio so that's a big bank in the united states involved in a lot of uh operations one of the big big banks next pick bank of america corp ticker symbol bac 8 million dollars so we see here connected bank of america and jp morgan that's sort of like a pair they're the two big banks but he also has that with las vegas sands and wynn resorts so he obviously believes in these two industries these the big banks and the resort casinos or else he wouldn't be putting money in two different companies so that's an interesting thing to point out there you all know bank of america for the next pick in his portfolio we have western digital corp ticker symbol wdc so this is his first tens of million dollar position breaking in at 11.9 mil tens of millions of dollars excuse me that's making up 3.78 of his portfolio so western digital corp if you go and watch my monish proper eye video they do something similar to micron which is a big monish pobry position they make hard drives and other storage for computers so if you're watching this on your phone or laptop right now it's going to have a hard drive it's going to be a solid state drive or a disk drive or something they make those for your computer so that's an interesting pick there too next we have goldman sachs group incorporated ticker symbol gs so everybody knows goldman sachs uh this is interesting because i'd like to make a call back to the big short movie if you've seen that movie highly recommend it who does he make one of his deals with to get his big short position on the housing market goldman sachs which is really interesting so now he owns 14 million dollars of goldman sachs calls in his portfolio another big investment bank coming up next booking holdings this is the first really interesting one booking holdings they operate a number of websites and services that have to do with the travel and service industry so they operate uh websites where you can go book trips priceline and other places to compare prices and a restaurant booking website so this is a really interesting one they are their income has been decimated by the kovid 19 pandemic so he obviously sees a big opportunity in booking holdings next we have facebook so this is one of the big fang stocks and you'll see coming up what's up next it's not gonna you're not gonna believe what's up next in that line but for fang we have facebook apple amazon google netflix but really microsoft so facebook is one of those companies they're an advertising company they operate the biggest social media network in the world he owns 21 million dollars of facebook calls call options last but not least coming in at 35 of his portfolio totaling over 113 million dollars we have alphabet better known as google ticker symbol g-o-o-g everybody knows google you're using a google service right now if you're watching this video on youtube so that is 113 million dollars of google calls he's obviously playing the advertising business that google has and that it will recover after the covid19 pandemic and that google is going to continue to be the best business on the planet which is essentially what they are right now they're one of the best businesses on the planet maybe he sees some potential in one of their long-term long shot holdings that they have like self-driving car or whatever it is we'll see but this is a very aggressive bet 35 of his portfolio in options that is that is very high percentage of his portfolio most people only allocate 10 of their portfolio for options at most that's why this is incredible so thank you for watching this episode of reds roundup where we looked at michael bury's quarter 2 2020 options portfolio subscribe if you want to see more i've been really enjoying making these videos and i'm sure there's more to come so subscribe if you want to go see more and go check out some of my previous videos if you want to see other super investors portfolios as of quarter 2 2020 thanks
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