Dr. Michael Burry, a legendary investor played by Christian Bale in “The Big Short,” is an investment legend. He’s the type of independent-thinking investor who’s more than willing to place massive contrarian bets for a shot at even outsized rewards.

Additionally, he seems to have a knack for spotting macro trends from miles away, even as others are blind to them. Taking massive contrarian positions (think the Big Short) takes courage. But more importantly, it takes patience and confidence in one’s abilities.

Sure, Dr. Burry’s track record may not be flawless (last year, he was way too soon to bet against the bid-up semiconductor stocks). That said, he has a remarkable track record of incredible calls over the decades, which makes him worth listening to whenever he voices an opinion.

In this piece, we’ll cover some Michael Burry value stocks, which may be worth a look in today’s rocky market.

JD.com (JD)

Burry isn’t afraid to be an aggressive buyer of stocks that almost everybody else has thrown in the towel on and scratched completely off their radars. JD.com (NASDAQ:JD) is one of those Chinese internet stocks that’s been a massive drag on performance over the years. It’s a perennial underperformer that’s probably going to keep dragging its feet for many years at a time.

At the time of writing, JD stock is down more than 76% from its all-time high of hit in early 2021. With a lack of newfound momentum to get behind and a Chinese economy that’s continuing to feel immense pressure, it takes bravery, patience and conviction to place a bet on the name at today’s levels.

Though there aren’t really many catalysts as China continues feeling the economic quakes, JD stock is absurdly cheap at 7.5 times forward price-to-earnings (P/E) and 0.26 times price-to-sales (P/S).

At these depths, perhaps it won’t take much at all to spark some sort of relief rally. Whether expanding outside China is enough to win back investor confidence, though, remains to be seen.

Alibaba (BABA)

Speaking of stocks that nobody cares to own (or even follow) anymore, we have Alibaba (NASDAQ:BABA), which has shed close to 75% of its value from its peak. Arguably, BABA stock is one of the most unloved tech giants in the global market. If it’s not the weakness in the Chinese consumer, lackluster earnings results, anti-trust unknowns or geopolitical risks, it’ll probably be something else that’ll have investors throwing in the towel.

As you may know, Dr. Burry just loves such stocks that many other investors can’t wait to rid their portfolios of. Despite the horrid headwinds, BABA stock, like JD, looks incredibly cheap at 9.3 times forward P/E and 1.5 times P/S.

Where some see a value trap to be ignored, others may see severe undervaluation. Dr. Burry’s Alibaba bet seems to suggest real, deep value to be had in the name. Of course, only time will tell if Burry’s big BABA bet is a long-term investment or just a trade. Either way, BABA stock is not a name for the faint of heart, even as China cuts rates and moves ahead with a big stimulus package.

Block (SQ)

Finally, we have Block (NYSE:SQ), whose chart follows a similar pattern to BABA and JD. The stock cratered hard a few years ago and has since struggled to sustain any sort of sustainable rebound.

The company recently posted a solid second-quarter earnings beat alongside a nice guidance boost. Despite the impressive beat and raise, it didn’t take long before SQ stock felt the pull of gravity again, thanks in part to the nasty market-wide sell-off that ensued.

Such a plunge seems more like a golden opportunity than a red flag. After all, SQ stock has already been in the penalty box for years now, and at just 16.7 times forward P/E and 1.5 times P/S, you’re not paying much for one of the most influential firms at the forefront of fintech and digital wallets.

Additionally, the company is reorganizing itself in a way that may just save money without diminishing its innovative efforts. As William Blair analysts put it, “CEO Jack Dorsey is injecting new energy” into a firm that may have been guilty of being “complacent.”

On the date of publication, Joey Frenette did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.