Michael Burry
· Cassandra Unchained
· June 09, 2026 at 01:29
· ⏱ 1 min read
| Read on Substack ↗
Summary
Buying Samsung Electronics at tangible book value has historically produced outsized returns (24.6% CAGR, 470x since 1998). The author executed this trade in early 2025 and argues the pattern is repeatable, hinting at a similar opportunity in an unnamed US stock.
•Samsung Electronics has traded at tangible book value 8 times in the last 30 years, each time providing a buying opportunity.
•From the 1998 Asian Currency Crisis low through 2026, Samsung stock returned 24.6% annually, a 470x total return.
•The author personally bought Samsung at tangible book value in early 2025, making it a top 3 fund position.