'Huge Short' financier Michael Burry is wagering Volkswagen will beat Tesla in electric automobiles thumbnail

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Summary List Positioning.
Michael Burry owns a stake in Volkswagen’s largest shareholder, Porsche SE.
” The Big Brief” financier is wagering Volkswagen can beat Tesla in electric vehicles.
Burry stated he was short Elon Musk’s cars and truck business in December.
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Michael Burry holds a stake in Volkswagen’s biggest investor, he exposed in a now-deleted tweet on Wednesday.
” I do not own a Porsche, but I own the Porsche that owns VW that owns Porsche,” the investor said. He was describing Porsche SE, the German holding company that owns 31.3%of Volkswagen, which itself owns Porsche AG, Audi, and other automobile brand names.
Porsche SE and Burry’s Scion Asset Management didn’t right away respond to ask for comment from Insider.
Burry is best known for his billion-dollar bet against the United States real estate bubble in the mid-2000 s. His rewarding wager was celebrated in Michael Lewis’ book “The Big Short,” and he was played by Christian Bale in the movie adaptation.
The Scion chief’s indirect bet on Volkswagen is noteworthy since the German auto group is handling Tesla in the electric-vehicle market, and Burry was short Tesla since December.
He anticipated in January that shares in Elon Musk’s electric-vehicle business– which have increased by more than 600%given that the start of 2020– would suffer a massive collapse. “Enjoy it while it lasts,” he stated.
Burry divulged his Porsche SE position after trumpeting Volkswagen in several tweets.
” Financiers, partially due to the #ESGFog, ignore the size, scale, brands, staying power, and resources of Volkswagen,” he said. The financier linked to a Bloomberg story about a UBS analysis that found Volkswagen’s ID.3 electrical car accumulated well versus Tesla’s designs.
VW,” Burry said in another tweet. Due to the fact that what United States financiers think is not too crucial to VW or Porsche.”.
Burry’s championing of Volkswagen and his stake in its biggest shareholder, combined with his criticism of Tesla and brief position, highly suggest he’s expecting the German car manufacturer to trounce Musk’s upstart rival.Join the conversation about this story” NOW SEE: This unbelievable animation shows how deep the ocean truly is
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