Michael Burry, the hedge fund investor made famous by The Big Short, has increased his investments in Chinese tech giants Alibaba and JD.com, despite the ongoing downturn in Chinese shares.
According to Scion Asset Management's most recent 13F filing with the Securities and Exchange Commission (SEC), Burry's fund has boosted its stake in Alibaba by 50% from 50,000 shares to 75,000 at $5.8m, making Alibaba the top holding. JD.com became the second biggest holding after Burry increased the investment from 125,000 to 200,00 shares also at $5.8m. Global fund managers most bullish in two years as growth expectations improve Chinese equities have struggled in the past year, with Chinese equity funds delivering some of the biggest losses for the period, according to data from...
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