Big Short’s Michael Burry Bets on Lipstick to Combat Recession

Michael Burry, known for predicting the subprime mortgage crisis in 2008, sold a major portion of his holdings during Q1 to focus on a single cosmetics stock: Estée Lauder. Analysts believe Burry expects a recession, based on the notion that makeup purchases tend to increase during economic downturns as consumers’ spending habits shift. Michael Burry […]