The only new reveal is the dollar figure. Burry has been very openly (and vocally) short on Tesla for a while now. He has been Tweeting a bunch about it since September last year. Tesla shares are up ~75% since those original Tweets.
"The market can remain irrational longer than you can remain solvent" applies to both amateur traders and the most seasoned investor/genius alike.
Possibly worth noting that Burry is not the only Big Short figure to openly opine that Tesla's pricing seems way out of whack compared to its fundamentals. Steve Eisman (aka Mark Baum in the movie) was publicly short Tesla for a bit. I think he ended up closing out and losing money at some point with a rueful "It's very hard to short a stock that's a cult."
It's possible both of them are wrong and Tesla has fundamental value at a level they were unable to analyze. Or it's possible that Tesla's future will be determined by things beyond fundamental value. But it's also possible they're right on some timeline.
Infamously Musk himself tweeted 'Tesla stock price too high imo' at around (can't get accurate atm) $150; it's currently at $573.
(Not that anything Musk tweets should be taken as anything other than.. an indication that one or all of TSLA, Bitcoin, or Dogecoin is about to move rapidly in one or both directions..!)
Oh you're completely missing the nuisance of what we just learned.
Sure, he's been talking short since September, but the size of his position has grown considerably since then - almost certainly timing the S&P inclusion (sorry index investors, you quite literally paid the top price for a stock that has lost almost 45% since you bought it).
He's almost certainly made a killing with his position and the beauty is we don't even know what it is today. He could have realized hundreds of millions in gains, or he could have them all still open.
If he has the position from the filings - just today, when Tesla is down $22 - he has made over $16 million dollars in unrealized gains.
It will be hilarious watching the Musk Zealots crying to have Elon tweet something to fraudulently try to pump the stock price and try to trigger a squeeze. Meanwhile they don't realize he's doing this with options, not shorting directly.
> (sorry index investors, you quite literally paid the top price for a stock that has lost almost 45% since you bought it).
If there's a single index investor that feels saddened by this stat, in the slightest way, they should stop index investing right now. The great joy of index investing is that this single stock is down, while on average everything else is way up...
>If he has the position from the filings - just today, when Tesla is down $22 - he has made over $16 million dollars in unrealized gains.
We don't have enough information to determine that. We would need to know strikes and expirations to even start to figure that out. AFAIK, we don't have either.
"The market can remain irrational longer than you can remain solvent" applies to both amateur traders and the most seasoned investor/genius alike.