The Zhitong Finance App learned that Michael Berry, an investor famous for accurately predicting the 2008 subprime mortgage crisis, revealed that he had cut his bearish position on construction machinery manufacturer Caterpillar (CAT.US) by 75%. Burry said that the return on the put option holdings was close to 4 times the original, so he chose to lock in most of his profits while retaining a smaller position.

The Zhitong Finance App learned that Michael Berry, an investor famous for accurately predicting the 2008 subprime mortgage crisis, revealed that he had cut his bearish position on construction machinery manufacturer Caterpillar (CAT.US) by 75%. Burry said that the return on the put option holdings was close to 4 times the original, so he chose to lock in most of his profits while retaining a smaller position.