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'Big Short' investor Michael Burry is betting against Cathie Wood - after predicting the Ark Invest chief's downfall

'Big Short' investor Michael Burry is betting against Cathie Wood - after predicting the Ark Invest chief's downfall

Michael Burry.
Astrid Stawiarz/Getty Images




Michael Burry revealed a bet against Cathie Wood's flagship Ark ETF this week.




"The Big Short" investor predicted her downfall and suggested the next crash will catch her out.




Burry has criticized several of Wood's favorite holdings including Tesla and bitcoin.




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Michael Burry of "The Big Short" fame revealed he's betting against star stock-picker Cathie Wood in a portfolio update this week. The fund manager's new position is no surprise, as he's publicly predicted the Ark Invest chief's hot streak won't last, and compared her to past growth investors whose luck ran out.Burry's Scion Asset Management held put options on 235,500 shares of Ark Innovation ETF (ARKK), Wood's flagship exchange-traded fund, at the end of June. The ETF invests in high-flying technology stocks such as Shopify, Coinbase, Zoom, and Tesla - which Burry is also short."It is too early, she is too hot, and, today, short sellers are timid, but Wall Street will be ruthless in the end," Burry said about Wood in a February tweet that has since been deleted."Shades of Gary Pilgrim and PBHG Growth from the 1990s, or Gerald Tsai and the Manhattan Fund in the 1960s," Burry tweeted around the same time.
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