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Core News Facts
Michael Burry, known for the film “The Big Short,” has taken a bearish stance on Nvidia (NASDAQ: NVDA) and Palantir (NASDAQ: PLTR) by purchasing put options during Q3 2023. Concurrently, Warren Buffett’s Berkshire Hathaway has added Alphabet (NASDAQ: GOOGL) to its portfolio. Since Burry’s short position was revealed, shares of Palantir and Nvidia have declined by 19% and 13%, respectively, as of December 1, 2023.
Burry cites concerns over Palantir’s high price-to-sales ratio of 110 and questions Nvidia’s accounting practices regarding AI infrastructure depreciation. In contrast, Buffett’s investment in Alphabet is seen as a long-term play benefiting from AI trends and market position, especially after Berkshire’s cash stockpiling and previous caution in the market.
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