- Michael Burry said markets were in a bubble of unheard of scale.
- The “Tall Brief” investor tweeted his dire warning after a 10-week destroy from Twitter.
- Burry has flagged reckless speculation on Tesla inventory, bitcoin, and diverse assets.
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Michael Burry on Tuesday warned of the supreme market bubble in history, suggesting that his concerns about rampant speculation handiest grew right thru his 10-week hiatus from Twitter.
“Of us repeatedly demand me what is going down in the markets,” the investor tweeted. “It’s straightforward. Very finest Speculative Bubble of All Time in All Things. By two orders of magnitude. #FlyingPigs360.”
The hashtag used to be doubtless a reference to a famed announcing in investing: “Bulls obtain money, bears obtain money, but pigs secure slaughtered.” Burry has generally told customers that they are being too grasping, speculating wildly, shouldering too distinguished risk, and chasing unrealistic returns.
The Scion Asset Management chief deleted his Twitter profile in early April after sounding the distress on Tesla inventory – which he is quick – along with GameStop, bitcoin, dogecoin, Robinhood, SPACs, inflation, and the broader inventory market. He resumed tweeting on Monday.
Burry is most effective identified for his billion-dollar wager in opposition to the US housing bubble in the mid-2000s, which used to be immortalized in the ebook and the movie “The Tall Brief.” He also helped lay the groundwork for GameStop’s comeback this year, as he bought a stake in the video-sport retailer in 2019 and wrote numerous letters to its board.
The investor, who has complained generally about his warnings being missed, has “Cassandra” as his display name on Twitter, a reference to the priestess from Greek mythology who used to be cursed by the gods to portion merely prophecies but by no methodology to be believed.
Burry’s most in kind tweet echoed his assorted cautions. Shall we notify, he is compared the hype around bitcoin, electrical vehicles, and meme stocks to the dot-com and housing bubbles and said earlier this year that the inventory market used to be “dancing on a knife’s edge.”