The Winds Are Changing
A week ago I wrote about China's new Bull Market:
“In hindsight, it wasn’t until big investors like David Tepper (whom I’ve never met but has long been an inspiration to me) went on TV sometime in late Q1 2021 and said he liked Energy and OXY… that the conversation changed. It was my top position, and it turns out we had been buying it at roughly the same time. In Q1 2021 it was still very contrarian to go on TV and say you liked Energy. Even after the enormous initial rally and all signs of a new Bull Market being underway, it was still considered too risky. But David Tepper went on the record, and the rest is history.
The same setup is likely happening today in China.
Maybe it will take a big investor disclosing Longs to help change the narrative. Who knows. To my knowledge this hasn’t happened yet.”
Just yesterday:
David Tepper's Appaloosa reported BABA as its largest position (12% of the portfolio).
He was loading up in Q1.
In total, nearly 25% of Tepper’s $6.7B disclosed positions are now in Chinese Stocks / ETFs:
*Click to maximize the table.
Tickers: BABA, PDD, BIDU, FXI, JD, KWEB, BEKE.
Not to be outdone, Michael Burry has 22% of his portfolio — in just three Chinese Stocks: JD, BABA and BIDU.
Timing and conditions are a superpower!