"The Big Short's" Michael Burry Just Threw Cold Water on SaaS Armageddon. 3 Software Stocks He's Buying

Legendary investor Michael Burry pushed back against fears that AI will destroy software moats, saying SaaS-armageddon is overblown and initiating/adding to positions in software-related names. In a Substack post he disclosed a new 3.5% position in PayPal and plans to open positions in Salesforce and MSCI, highlighting PayPal’s discounted valuation (about 9.6x forward earnings) and Salesforce trading around 14x forward earnings after a nearly 30% decline this year. The trades signal a bullish vote of confidence in large, networked software businesses and financial-data franchises and could ease recent selling pressure on beaten-down software stocks while drawing attention to valuation-driven opportunities.