On August 12, Michael Burry stated that Berkshire Hathaway, under the leadership of CEO Greg Abel, has lost its appeal, questioning Abel's capital allocation discipline. Burry believes that Abel has been too aggressive in deploying cash when market prices are high, rather than waiting for a "fat pitch" like Buffett. Berkshire has spent heavily on stock buybacks, stock investments, and acquisitions, reducing its cash reserves. Michael Burry is known for successfully shorting the U.S. housing market before the 2008 financial crisis, and his investment views have long attracted market attention.
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