But on the other side, he's betting big against the AI boom, shorting Chip and AI names like Micron, Oracle, Palunteer, and Nvidia, with his total bets against stocks now topping 21% of his portfolio.
And finally, the strangest bet of them all, Nvidia. Because Bur is somehow betting both ways at the exact same time. He is short Nvidia while also owning Nvidia call options. How on earth does that make sense?
Well, right before Nvidia's earnings, he bought some call options. Basically, a small bet the stock will go up, but he flat out called them a hedge like insurance. Then, less than a day later, he sold half of them, saying they' done their job.
He stays bearish for the long run, but admitted that there was little standing in the way of further stock appreciation in the short term.