WAL - Michael Burry Is Set to Rake in More Than $1 Million in Annual Dividend Income From These 4 Stocks
2023-05-28 07:30:00 ET
Michael Burry isn't exactly known for being a pure dividend investor. Rather, Burry got famous for his bets against the housing market right before the Great Recession, yielding Burry and his fund at the time tremendous profits.
Burry's call, which very few investors got right, was portrayed in the star-studded movie The Big Short , where Burry himself was played by Christian Bale. Recently, Burry's fund Scion Asset Management bought several bank stocks with strong dividend yields in the first quarter of the year that are set to rake in more than $1 million in annual income. Let's take a look.
Bank stocks have gotten creamed since the failures of several prominent banks in March, and Burry, ever the contrarian, bought the dip in some of the hardest-hit stocks in the sector, including Western Alliance (NYSE: WAL) , whose stock has fallen more than 50% since early March.
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Michael Burry Is Set to Rake in More Than $1 Million in Annual Dividend Income From These 4 Stocks