'Big Short' investor Michael Burry piled into energy and shipping stocks last quarter. A top strategist explains why.

• Michael Burry snapped up a bunch of energy and shipping stocks in the second quarter.
• The "Big Short" investor was likely drawn to their cheapness and upside potential, one analyst said.
• Burry also made a "very large," leveraged bet against the S&P 500 and Nasdaq-100, the analyst noted.

Michael Burry didn't just bet against the S&P 500 and Nasdaq-100 last quarter, he also loaded up on energy and shipping stocks. Those purchases make perfect sense for the investor of "The Big Short" fame, one leading analyst says.