Michael Burry
· Cassandra Unchained
· 08 июля 2026, 18:01
· ⏱ 2 мин чтения
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Резюме
Michael Burry outlines his valuation methodology centered on IV15 (the price implying 15% annual returns over 15 years), emphasizing that low multiples alone don't define value and that quality adjustments matter. The article is purely educational with no stock-specific calls or market implications.
•IV15 is a buy price target derived from discounted cash flows, not a simple PE ratio, and includes adjustments for stock-based compensation and accounting distortions.
•Baseline intrinsic value typically sits between IV8 and IV10; buybacks are only accretive to intrinsic value per share below that range.
•The All Map visual categorizes stocks into Fat Pitches, Just Outside, and The Out Field based on IV15 multiple, AICT Tier, and Composite Score.
•Burry discloses he purchased two new positions and added to one, but does not name any securities in this excerpt.