Burry's Dancing with Chinese Tech

Alright, folks, gather 'round! We have a financial rollercoaster update from none other than Michael Burry. You know, the guy from *The Big Short* who made bank predicting the 2008 housing crash. This time, he's back and he's got his eyes on Chinese tech stocks.

So picture this: it's 2023, and Burry's playing a game of stock market hokey-pokey. He put his left foot in, took his left foot out, then shook it all about with Chinese tech shares. And guess what? This wild dance seems to be paying off. Chinese policymakers are doing their best to clean up the mess, earnings are looking up, and JD.com’s US-listed shares have jumped over 16%. Even Alibaba is trying to join the party with a 4.5% rise.

But hold up, don't pop the champagne just yet. Burry also grabbed a tiny little $4.2 million slice of Baidu. Baidu, however, is that one guy at the party who's still sulking in the corner—down 7% this year.

Global investors, probably feeling like they've been on a year-long cleanse, are slowly dipping their toes back into Chinese stocks. They're seeing cheap prices and Beijing's thumbs-up, hoping these are signs of a good time ahead. Tencent's having a blast, beating earnings expectations, while Alibaba's out here like, "I brought the chips... but they're kinda stale."

So, Burry's been playing hopscotch with his China tech investments. He went all in on Alibaba and JD.com at the end of 2022 as China was getting back on its feet post-pandemic. Then, in mid-2023, he was like, "Nah, I'm out." But wait! A few months later, he came back again. It’s like he's the Ross and Rachel of the stock market—will they, won’t they? Stay tuned!