Michael Burry Doubles Alibaba Stake in Big Bet on China Tech

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People walk past the mascot for the Taobao e-commerce platform in May 2021 at Alibaba’s headquarters in Hangzhou, East China’s Zhejiang province. Photo: Bloomberg

(Bloomberg) — Michael Burry, the money manager made famous in “The Big Short,” now has a Big Long when it comes to China. He boosted his bullish bets on e-commerce giants JD.com Inc. and Alibaba Group Holding Ltd., even as other hedge funds cooled on the nation’s reopening trades.

The two stocks have become the largest holdings of his Scion Asset Management, accounting for 20% of his stock portfolio. His success relies not only on the companies recovering their mojo but also surviving the geopolitical risks that drove many of his peers away.