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T.H.E.M.
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‘Big Short’ legend Michael Burry warns stocks will keep falling – and predicts many investors will suffer heavy losses
- Michael Burry expects US stocks to fall further and many investors to incur heavy losses.
- The “Big Short” investor compared the ongoing market slump to the onset of the dot-com crash.
- Burry slammed the passive-investing boom for inflating asset prices in recent years.
Michael Burry warned US stocks have further to fall, compared the current market downturn to the onset of the dot-com crash, and predicted many investors would suffer painful losses in a flurry of since-deleted tweets over the weekend.
The investor of “The Big Short” fame noted in a Friday tweet that there are 218 companies with a primary stock listing in the US, a market capitalization north of $1 billion, and annual losses exceeding $100 million. Of those, 29 boast market caps over $10 billion and are worth a combined $655 billion, he added.
“Saying it again. ALL the silliness must go,” Burry wrote. He was nodding to a tweet in August in which he complained that “COVID-era silliness” had returned to markets, and emphasized that such speculation had inflated past bubbles but eventually disappeared every time……more here
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