Michael Burry has turned from water to wine.
The star of “The Big Short,” who made waves for investing in water after calling the collapse of the mid-2000s US housing bubble, explained why he’s betting on fine wines in a Substack post on Thursday.
Burry, who pivoted from running a hedge fund to writing about his personal investments almost a year ago, told his subscribers that fine wines could be a “terrific diversifier” for their portfolios.
He wrote that “just about every single case of fine wine sitting in a London bonded warehouse can be a short position on the US dollar, a global hedge against fiat currency, and a ward against global…
