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'Big Short' Burry Says Market is 'Like Watching a Plane Crash'

Published 05/25/2022, 08:47 AM
Updated 05/25/2022, 01:00 PM
© Reuters. 'Big Short' Burry Says Market is 'Like Watching a Plane Crash'

By Sam Boughedda

On Tuesday, 'Big Short' investor Michael Burry said in a now-deleted tweet that the current market conditions are "like watching a plane crash."

Legendary investor Burry, who accurately predicted the 2008 housing crash, wrote: "As I said about 2008, it is like watching a plane crash."

"It hurts, it is not fun, and I'm not smiling," he added.

Burry founded the hedge fund Scion Capital, which he ran from 2000 until 2008.

His tweets came not long after US government housing data showed new home sales fell by nearly 17% month-on-month in April as houses became less affordable.

Markets tumbled on Tuesday, and although they started Wednesday's session on a positive footing, the Dow and S&P are now in negative territory for the day.

It isn't the first time Burry has warned investors about the current market environment. He previously compared the rise in asset prices during the Covid-19 pandemic with the 2008 housing bubble.

In March 2021, he described Bitcoin, electric vehicles, and meme stocks as fads and said they were like housing in 2007.

 

Latest comments

no
if you predict a market crash  you have a 50/50 chance of being right . If you predict a market bull when the market is toppish you also have a 50/50 chance / With these odd,  you find most traders got 50/50 chance when trading with or without plane warning or nightmare
I love how all these people claim to have predicted the 07-08 crash, just like they are doing now... Yet NONE of them develop econometric models to render predictions (as our firm does). What a joke. PS We missed 07/08 by 0.5% using Monte Carlo simulations... and we will be correct this time, too. Unreal. Too many large mouths backed up by nothing.
and you waste your time posting here
And what are the predictions of your models at present?
it must hurt to miss by 0.5% lol...beginners mistake
yes
Im smiling and gloating! It was never fair to steal from wage earners to pump the markets … time to revalue assets back to year 2000 ( housing and stock) . The geniuses that engineered the dent expantionHave reached the end of thr debt road … thise indented and holding assts tbat will fall in value by 60-90 percent will be knocked out of the game ( 99 percent of us) well deserved
Kicking the can down road works until you run out of road.
Not sure what kind of road it was to begin with; runway, pier, or unfinished tunnel.
Not to worry. S&P should find solid support at $2400. ALWAYS invest only what you can afford to write off (lose).
In the first leg down 2600, then 1000
In your dreams mate. Nothing comes with being a perennial bear you know
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