Burry just torched his $BABA position and went all-in on $JD instead.
His reasoning? Brutal and simple:
"I cannot bless share issuances."
He's basically saying Alibaba would need to crater another 50% before he'd even consider looking at it again. The $10B AI share sale was the final straw—dilution and weak return on invested capital killed the entire thesis for him.
Meanwhile, he's calling his new $JD position "large."
The guy who called the housing crisis just walked away from the Alibaba AI story everyone else is still buying into. That's not noise—that's a signal.
His reasoning? Brutal and simple:
"I cannot bless share issuances."
He's basically saying Alibaba would need to crater another 50% before he'd even consider looking at it again. The $10B AI share sale was the final straw—dilution and weak return on invested capital killed the entire thesis for him.
Meanwhile, he's calling his new $JD position "large."
The guy who called the housing crisis just walked away from the Alibaba AI story everyone else is still buying into. That's not noise—that's a signal.