Abel: Berkshire's high cash reserves provide significant operational flexibility
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"Big short" Michael Burry: The AI bubble may burst "earlier than expected," replacing short positions with put options to increase leverage
Michael Burry suggested that the AI bubble could burst as early as next summer and has replaced all his short positions on Micron, Nebius, SOXX semiconductor ETF, and Palantir with put options to obtain lower cost and higher leveraged short exposure. He believes the AI boom is built on the unproven assumption of "sustained capital expenditure," and once revenues disappoint, capital will quickly flee.
Variational open interest has exceeded $2 billions.
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