Michael Burry warned that market ‘silliness is back’ in a recent tweet. The ‘Big Short’ investor compared the current situation to the stock market crashes of 1929 and 2008. “Familiar COVID-era silliness is not dead yet,” Burry said. Loading Something is loading.
Markets are starting to behave irrationally again, according to Michael Burry.
The investor and hedge fund manager warned of a rise in ‘silliness’ after the S&P 500 rallied 8.6% to bounce back from a 2022 low.
“The silliness is back,” Burry said in a now-deleted Tweet. “After 1929, after 1968, after 2000, after 2008, the strain of silliness that transformed bulls into bubbles completely and utterly disappeared.”
“But that familiar COVID-era silliness is not dead yet,” he added.
Burry is best known for his betting against the mid-2000s housing bubble, as depicted in Michael Lewis’s book “The Big Short”. Christian Bale subsequently portrayed him in a film adaptation.
Burry also inadvertently fueled the meme-stock frenzy by purchasing a stake in GameStop, placed high-profile wagers against Elon Musk’s Tesla and Cathie Wood’s Ark Innovation ETF last year, and has tweeted numerous times that the pandemic-era surge in asset prices would culminate in a historic crash.
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