‘Big Short' investor Michael Burry doubles stake in Estee Lauder, betting on luxe rebound

Michael Burry’s Scion Asset Management has doubled its stake in Estee Lauder, at a time when the beauty giant’s new CEO is steering the company through a transformation to overcome weak demand in key markets such as North America and China.The US investor, whose bets against the US housing market before the 2008 financial crisis were chronicled in the movie “The Big Short,” now owns 200,000 shares of Estee valued at $13.2 million, according to a regulatory filing on Thursday. That is double the number of sh ...