Michael Burry’s Top 3 Stock Picks

1. Bristol-Myers Squibb (NYSE:BMY)

Scion Asset Management’s Stake Value: $18.7 million

Percentage of Scion Asset Management’s Portfolio: 25.12%

Numbers of Hedge Fund Holders: 67

Scion Asset Management’s top performers in the first quarter of 2022 include Bristol-Myers Squibb (NYSE:BMY). It is also one of the inflation protection stocks with the potential to perform well in various market cycles. In addition to inflation, its business model is less exposed to global political unrest. This is clearly reflected from its stock price rally of close to 7% year to date. 

In the fourth quarter investor letter, Saturna Capital, an investment management firm, expressed a different opinion about Bristol-Myers Squibb. Here is what Saturna Capital stated:

“Given the likelihood of rising inflation and interest rates ahead, we anticipate adjustments to the portfolio to reduce exposure to highly valued stocks dependent on low-interest rates to support terminal year valuations, while seeking investments in companies more correlated with a return to economic normalcy. We sold our positions in Bristol Myers. We believe there are better opportunities than Bristol in pharmaceuticals.”

You can also take a look at 10 Dividend Stocks Warren Buffett is Backing in 2022 and 10 Dividend Stocks to Buy According to Billionaire Jeffrey Talpins.

Follow Insider Monkey on Twitter