Group 1: Michael Burry and Scion Asset Management - Michael Burry has de-registered his hedge fund, Scion Asset Management, LLC, which gained fame for its prescient bet against the 2008 housing market and recent bearish positions on Palantir Technologies Inc. and Nvidia Corp [1][2] - The SEC's Investment Adviser Public Disclosure confirms that Scion's registration was officially terminated on November 10, 2025 [2] - The shutdown process began with Burry notifying investors on October 27, stating he would liquidate the funds and return capital by the year's end [3] Group 2: 13F Filing and Bearish Positions - Scion's final mandatory 13F filing occurred on November 3, detailing third-quarter holdings, which included a significant put option on Palantir valued at $912 million [4][5] - Burry clarified that he spent $9.2 million on the options, not the reported $912 million notional value [5] - By terminating his SEC registration, Burry is no longer required to file public 13Fs, indicating a potential shift to a private "family office" structure [6] Group 3: Market Context - The S&P 500 is nearing the 7,000 mark, with its last 52-week high at 6,920.34 points, closing at 6,850.92, just 150 points away from the milestone [7] - The SPDR S&P 500 ETF Trust closed up 0.056% at $683.38, while the Invesco QQQ Trust ETF declined 0.24% to $621.08 [8]

Core Viewpoint - Michael Burry, a well-known investor who accurately predicted the subprime mortgage crisis, has raised concerns about the AI sector, alleging that major U.S. tech companies are artificially inflating profits through aggressive accounting practices [1][3]. Group 1: Accounting Practices - Burry pointed out that cloud computing and AI infrastructure giants, including Meta, Oracle, Microsoft, Amazon, and Google, are extending the depreciation periods of chips and servers to artificially lower annual depreciation costs, thereby exaggerating profit performance [3]. - He emphasized that this practice is one of the "most common financial fraud techniques" in modern financial reporting, with some companies extending equipment depreciation periods to six years despite actual product lifespans of only two to three years [3]. - Burry estimated that the AI industry could see an inflated profit of up to $176 billion due to underestimated depreciation from 2026 to 2028, specifically highlighting that Oracle and Meta's profits could be overestimated by approximately 27% and 20%, respectively, by 2028 [3]. Group 2: Market Reactions - Following Burry's statements, Nvidia and Palantir experienced significant market volatility, reflecting increasing investor disagreement over AI valuations [7]. - SoftBank's recent liquidation of Nvidia shares, cashing out $5.8 billion, has further fueled speculation that the AI boom may be peaking [7]. - A report from Bank of America indicated that the market is severely underestimating the future growth potential of depreciation expenses for tech giants, with Google, Meta, and Amazon potentially underestimating depreciation expenses by nearly $16.4 billion by 2027 [7]. Group 3: Future Developments - Burry has committed to revealing more details on November 25, indicating that the controversy surrounding the "wealth myth" of AI is still evolving [7].

格隆汇11月13日｜电影《大空头》原型Michael Burry执掌的Scion资管250313F报告显示，该机构以看跌 期权重仓做空AI龙头Palantir(PLTR)与英伟达(NVDA)。其中Palantir看跌期权名义价值9.12亿美元，英伟 达为1.86亿美元，两者合计占其组合权重80%。但25Q3至今(截止11.12收盘)英伟达股价涨23%、Palantir 涨41%，Scion上述持仓理论上面临潜在巨额浮亏。当前公开信息仍有局限：一是无法获取期权费以测 算成本，二是缺乏行权价、到期日等合约条款，难以判断策略风险与约可能。 值得注意的是，Michael Burry似乎在本周向美SEC注销了他的对冲基金Scion Asset Management。Burry 在社交媒体上发布了一张图片，显示Scion的SEC注册状态已终止。 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不 对所包含内容的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担 全部责任。邮箱：news_center@staff.hexun.com ...

Core Insights - Scion Asset Management, led by Michael Burry, has heavily shorted AI leaders Palantir (PLTR) and Nvidia (NVDA) using put options, with a nominal value of $912 million for Palantir and $186.58 million for Nvidia, collectively representing 80% of its portfolio [1] - Despite the bearish position, Nvidia's stock has risen by 23% and Palantir's by 41% since Q3 2025, indicating potential significant unrealized losses for Scion [1] - Burry has reportedly terminated the registration of Scion Asset Management with the SEC, as indicated by a recent social media post [1][4] Company Positions - Palantir: 9.12 billion USD in put options, representing 66.04% of the portfolio [2] - Nvidia: 1.86 billion USD in put options, representing 13.51% of the portfolio [2] - Other positions include healthcare and consumer discretionary stocks, but the focus remains on the significant short positions in AI companies [2] SEC Registration Status - Scion Asset Management's SEC registration status has been terminated as of November 10, 2025 [4]

Group 1: Market Reactions to Tariffs - President Trump's threat to impose a 155% tariff on Chinese imports led to a significant drop in the Dow Jones Industrial Average by nearly 900 points, with the S&P 500 and Nasdaq Composite also declining as traders anticipated increased trade tensions [2][3] - A previous increase in tariffs to 100% on Chinese goods resulted in the S&P 500 falling by 2.7%, the Dow dropping 878 points (1.9%), and the Nasdaq sliding 3.6%, erasing a month's worth of gains for major tech companies [3] - The announcement of a 10% universal tariff on April 2, 2025, caused global markets to plunge, highlighting the immediate impact of tariff announcements on market sentiment [3] Group 2: Trade Agreements and Market Sentiment - A recent US-China trade agreement reduced customs duties on fentanyl from 20% to 10%, lowering the overall tariff rate on Chinese imports from 41% to 31%, but the market reaction was muted, indicating that investors may have already priced in the changes [4] - The proposed $2,000 "tariff dividend" announced by President Trump led to a significant rebound in the cryptocurrency market, with Bitcoin surpassing $106,000 and Ethereum climbing past $3,600, showcasing a shift in investor focus towards digital assets [4] Group 3: Economic Implications and Criticism - Economists criticized the proposed "tariff dividend," with Nobel laureate Paul Krugman labeling it "deeply irresponsible" and estimating it could cost $600 billion, which is double the projected 2025 tariff revenue [5] - Treasury Secretary Scott Bessent suggested that the "dividend" might not be a direct payment but could manifest as tax cuts, raising questions about the feasibility and clarity of the proposal [5] Group 4: Global Trade Dynamics - President Trump's threats of a 50% import tariff on European Union goods led to immediate declines in European stock markets, with major indices like the Bel20, AEX, CAC40, and Dax all experiencing significant drops [6][7] - In contrast, the US and India are reportedly nearing a WTO-compliant trade deal, which aims to boost Indian exports and improve investor sentiment following a steep increase in import duties on Indian goods [8] Group 5: Impact on Indian IT Sector - Trump's hints at a more favorable stance on H-1B visas led to a rally in Indian IT stocks, with the Nifty IT Index surging over 2% and individual companies like Infosys and TCS experiencing notable gains [9] - The hiring ramp-up by Wall Street banks in India's Global Capability Centers reflects the contradictory nature of the policies, as they respond to earlier visa crackdowns while still seeking talent [9] Group 6: Market Performance and Volatility - On November 12, 2025, the Dow Jones Industrial Average closed above 48,000 for the first time, marking a 0.7% gain, while the S&P 500 and Nasdaq showed mixed results, indicating a divergence in market performance [10][11] - The overall market performance was influenced by optimism surrounding the end of a US government shutdown, leading to a rotation from tech stocks to more defensive sectors [11] - The market remains characterized by volatility, with Trump's pronouncements consistently injecting uncertainty and prompting varied reactions across different sectors [12]

Social Media & Content Moderation - A TikTok video warning people about Palantir was removed [1]

2015 Getty Images / Getty Images News via Getty Images Shares of Palantir Technologies (NASDAQ: PLTR) fell 3.56% yesterday and then another 1.1% in after horus trading. While Palantir is a volatile stock, that's a nearly 5% move in 24h for a stock that was also seeing an extreme rebound in investor sentiment following an meme worthy interview CEO Alex Karp gave The delta between sentiment and sell off just points to a recurring pattern in meme stocks, where viral enthusiasm doesn't always translate to in ...

Group 1 - Shares of Palantir Technologies (NASDAQ: PLTR) fell 3.56% yesterday [1] - The stock experienced an additional decline of 1.1% in after-hours trading [1]

Core Viewpoint - The article emphasizes the importance of conducting independent research and due diligence before making investment decisions, highlighting the inherent risks and volatility associated with stock investments [2][3]. Group 1 - The article provides informational content but does not serve as an exhaustive analysis of any featured company [2]. - It clarifies that the predictions and opinions presented are based on a probabilistic approach rather than absolute certainty [2]. - The author has no financial interest in the companies mentioned, ensuring an unbiased perspective [1]. Group 2 - The article stresses that past performance is not indicative of future results, cautioning readers against relying solely on historical data [3]. - It notes that the views expressed may not reflect those of the platform as a whole, indicating a diversity of opinions among analysts [3]. - The article highlights that analysts may not be licensed or certified, which could affect the reliability of the information provided [3].

Group 1: AI Market Sentiment - Growing skepticism around artificial intelligence (AI) as a potential bubble, with experts suggesting it differs from the dot-com bubble and may take years to burst [1][2] - Bank of America analysts indicate no overbuilding of AI data centers due to limitations like power access and space [2] - JP Morgan Asset Management notes that current players are better capitalized than those during the dot-com era, with AI monetization already underway [2] Group 2: Michael Burry's Position - Michael Burry's hedge fund, Scion Asset Management, revealed a short position on Nvidia (NVDA) and Palantir (PLTR), causing significant industry concern [2] - Burry claims that AI hyperscalers are artificially inflating earnings by extending the useful life of assets, which he argues is a common modern fraud [4][6] - Allegations suggest that companies are manipulating depreciation figures to enhance earnings, raising serious concerns about accounting practices in the industry [5][6]