Michael Burry speaks on the current condition of the market, bet against Apple, votes for Facebook and Alphabet (GOOG)

"Big Short" hedge fund manager Michael Burry has been aggressively investing amid the current market plunge

Sliding equities and plummeting home sales, according to Burry, remind him of the 2008 housing bust.

The current market is like witnessing a plane fall, according to the "Big Short" investor.

"As I said about 2008, it is like watching a plane crash," he said. "It hurts, it is not fun, and I'm not smiling."

In December 2015, Burry told New York magazine that he had a reoccurring nightmare about the calamity in the form of an airliner crashing as the housing market collapsed in late 2007. "I knew what was happening, but there was nothing I, or anyone else, could do to stop it," he said.

Burry in a now deleted tweet expressed his concerns that the stock market may experience another plane crash-like plunge. He has since taken the opportunity to invest mkte in certain companies, especially tech companies.

The CEO of Scion Asset Management sent his last tweet just after the US government released statistics showing that new single-family home sales in April fell by over 17% month over month to 591,000 units, significantly below the consensus projection of 750,000 units.

Burry's most recent 13F filing for the first quarter of 2022 reveals a slew of new investments as well as some intriguing strategic moves with options. That's a big change from last quarter, when Burry was liquidating most of his stock portfolio and predicting the "mother of all crashes."

'A bet against Apple'

Burry has shown that he isn't very optimistic about the market as a whole.

He acquired a lot of tech equities this quarter, but that doesn't mean he's bullish on the entire industry. A massive short bet against Apple was concealed in the 13F filing.

As of the conclusion of the first quarter, he had 206,000 put options on Apple stock. This wager has a theoretical value of almost $28 million. However, considering how option premiums are structured, the actual cost could be significantly lower.

'A bet for Facebook (FB) and Alphabet (GOOG)'

Burry hasn't completely taken his interest off Big Tech. In fact, his bet on big tech is unmistakable.

For nearly six months, technology and growth companies have been out of favor. Burry currently owns 6,500 shares of Alphabet Inc., the parent business of Google, and 80,000 shares of Meta Platforms Inc., the parent company of Facebook. They're his fourth and sixth most valuable assets, respectively.

The decision could be interpreted as a statement of confidence in online advertising. It's also possible that it's a symptom of undervaluation. Both equities are valued at around 20 and 24 times earnings per share, respectively.

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