Burry Flags Nvidia as Trade as MercadoLibre, Temple & Webster Top 10% of Portfolio
Updated
Updated · Yahoo Finance · Nov 11
Burry Flags Nvidia as Trade as MercadoLibre, Temple & Webster Top 10% of Portfolio
3 articles · Updated · Yahoo Finance · Nov 11
Summary
Michael Burry said Nvidia’s selloff could soon make it “a heck of a trade,” but he is not buying it as a long-term hold because he expects its competitive edge to shrink over five years.
Next week’s Nvidia earnings land as the board investigates reports CEO Jensen Huang was targeted by a foreign intelligence operation, though Burry said that controversy is less important than rising scrutiny of Nvidia’s China chip trade and AI-industry ties.
More than 10% each of Burry’s portfolio is now in MercadoLibre and Temple & Webster, his two largest positions, according to his latest Cassandra Unchained post.
Below $1,500, Burry bought MercadoLibre twice recently and said he would buy again if the stock falls another 20%; he also added Adobe, JD.com and long-dated Sprouts Farmers Market call options.
$10.75 billion in third-quarter MercadoLibre revenue—up 45%—helped underpin that conviction, even as operating profit slipped 6% to $676 million under higher shipping, fulfillment and marketing costs.