🚨Short the AI boom, long everything it left behind. Michael Burry revealed in his latest Substack post that he cut his Oracle puts in half after the stock crashed -35% this year. Burry also added to his Nvidia short, buying more December 2026 puts struck in the low $100s, calling the addition "pocket change" while volatility remains cheap. He bought more DraftKings around $25, with "no change in the basic thesis." He then turned to Netflix, which had fallen from a $134 peak to $74 before dropping further after earnings. "Disney produces wine. Netflix produces milk," he wrote. By his math, Netflix trades at 1.6x what he believes it is worth and only becomes a buy below $50. Burry also said it is "a particularly good time" to buy cheap Hong Kong stocks as the shine comes off Korea, Japan, and chip stocks. He has already added JD dot com at $27.58. Michael Burry called the top of the AI trade on June 30 by shorting: - Applied Materials: $729 to $530 (-27%) - SOXX: $642 to $515 (-20%) - Caterpillar: $1,060 to $850 (-20%) - Micron: $1,051 to $850 (-19%) - Tesla: $416 to $380 (-8%) - Nvidia: Shorted at $198, now at $202. Michael Burry shut down his hedge fund to launch a $39/month newsletter - just 8 months later, it reportedly reached 300,000 subscribers and could be generating $113 million a year.