What’s up with this stock? I saw a video of a speech by Michael Burry, who runs a hedge fund, Scion Asset Management (he’s the guy that saw the Sub Prime crisis coming in 2007 and called it.) so it prompted me to look up Scion Asset Management. According to their 10Q from I think June, in the second quarter of this year they sold all of their holdings, the usual suspects, Facebook, Amazon etc. and they invested 10”% of their assets in GEO, a REIT that owns and operates prisons. Shitty earnings, no growth, nothing special about this company. Trades in the $8’s. The 10Q stated that the fund manages $290 million, for FOUR clients. weird. Wonder if somethings brewing.
it's hot garbage. No one's a fan of for profit prisons (except Trumpers) and dems aren't doing them any favors. They only got immigration to fall back on and they've been shitting the bed there too.
Accumulation phase by big boyz. Accumulation phase in all markets, on all assets, for the next decade or so. If it were for profit Russian prisons, then there was something to worry about, since their clients went to front.
Yeah I agree, I couldn’t find anything on the chart OR in their fundamentals, OR in the news, OR anywhere, I couldn’t find anything of interest. Just wondering why a hedge fund would do that. In fact, why a hedge fund would have 4 clients makes it more curious.
Why would the number of clients be of concern. Possibly the minimum investment is quite high. I remember reading about fund managers who closed funds because clients were a pain.
If burry is long then something is brewing. Years before he did his "big short" he was known for drilling deep into details. He did not buy GEO on a whim. I have no position in GEO.
Or when Michael Burry made em 500% & they still held him for ashole. The first thing that Warren would do, - ,,I want to be sure that all of us are on the same boat"
Not a concern. It just made me wonder. Are these clients connected in some way? Is it a family office? Could they be using the pe fund as a vehicle to do a LBO? Just thinking out loud