Michael Burry, who famously shorted subprime mortgages during the 2008 financial crisis, closed his bets against the S&P 500 and the Nasdaq 100 in the third quarter. Burry has initiated short positions in BlackRock's iShares Semiconductor ETF with 100,000 shares and in Booking Holdings Inc with 2,500 shares. Burry's fund also reduced its overall stock market exposure, selling 76% of the stocks it held in the second quarter. Burry's successful short against the subprime mortgage market during the 2008 crisis was showcased in the book and film "The Big Short", raising his profile as an investor who correctly predicted major market downturns.
