The clickbaity titles are very misleading though. He didn’t bet $1.6B against the market, but it’s just that the value of the underlying shares ($QQQ and $SPY) against which he’s betting using puts are worth that amount. The puts themselves should be worth way less. Those puts still make up a combined 93.59% of his portfolio 🔥 Burry also got out of regional banks and Chinese stocks. (Source: CNN [https://edition.cnn.com/2023/08/15/investing/michael-burry-stock-market-crash/index.html])