Does the Big Short's Michael Burry Know Something Wall Street Doesn't? The Famed Investor No Longer Views Berkshire Hathaway as an "Attractive Investment"
Burry became famous as one of the few investors who bet against the housing market before it collapsed.
Overview
Berkshire Hathaway (NYSE: BRKA) (NYSE: BRKB) has generated market-crushing returns for roughly six decades.
Investors attribute the superior performance largely to its longtime former chief executive officer, Warren Buffett, who stepped down from the role at the end of last year. The loss of Buffett seemed to remove some of the premium that investors paid for Berkshire's stock, which has underperformed the broader market this year.
Details
While Buffett handpicked new CEO Greg Abel to lead the company, the market hasn't been completely sold. However, Berkshire's stock has bounced back during the past month, up 4.6% (as of Aug. 11), as Abel has begun to deploy some of Berkshire's huge cash pile.
Source
Originally published at www.fool.com.