The Burry long book angle nobody talks about
so since Burry restacked my substack post yesterday i've been thinking about what actually matters in his 13F beyond the shorts
the long side tells you more about his approach than the puts do
zts - animal health company thats been hammered. boring. quality. cheap. sfm - grocery chain with clean margins. nothing exciting. thats the point. pypl - everyone already hates paypal. expectations are in the gutter. lulu - written off by the market. trading like growth is dead. fmcc - special situation. high optionality.
the pattern is obvious when you line them up - find things that are already hated where bad news is priced in. use those as your core. then hedge the euphoria with puts.
this isnt some genius move. its portfolio construction 101. go where the risk/reward tilts.
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