The investor made famous by The Big Short has identified fine wine as a potential hedge against threats posed by AI, quantum computing and a weakening US dollar. Richard Woodard reports on why Michael Burry believes blue-chip bottles offer advantages over cryptocurrencies and other financial assets.
Investing in fine wine offers an attractive hedge against the threat to cryptocurrencies and other financial assets posed by AI and quantum computing, according to famed 'short seller' Michael Burry.
In a Substack post reported by TheStreet, Burry, a noted critic of cryptocurrencies such as Bitcoin, which he has described as the "tulip bulb of our time", said physical hard assets without a direct connection to bond and stock markets represented a safer bet.
Name-checking the likes of Petrus, Domaine de la Romanée-Conti, Château Mouton Rothschild, Château Margaux, Sassicaia, Ornellaia and Solaia, Burry wrote that blue-chip fine wines enjoyed "resilient demand in good and bad times", adding that the European bonded fine wine market in particular was "diverse, liquid ... and therefore analysable and investable".
A hedge against the dollar
Burry continued: "Just about every single ...