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هيثم الشيبه
May 27, 2022 12:01PM ET
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⏰ React to the Market Faster with Custom, Real-Time News Get Started
'Big Short' Burry Says Market is 'Like Watching a Plane Crash'
© 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.
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Comments (7)
michel Le havre
May 27, 2022 12:33AM ET
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
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Dr Herbert Barber
May 26, 2022 4:45PM ET
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.
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AA BB
May 26, 2022 4:45PM ET
and you waste your time posting here
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Simon Hakim
May 26, 2022 4:45PM ET
And what are the predictions of your models at present?
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hrabmv ivy
May 26, 2022 4:45PM ET
it must hurt to miss by 0.5% lol...beginners mistake
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Pula Regards
May 25, 2022 5:00PM ET
yes
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William Bailey
May 25, 2022 1:45PM ET
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
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jack frost
May 25, 2022 1:33PM ET
Kicking the can down road works until you run out of road.
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May 25, 2022 1:33PM ET
Not sure what kind of road it was to begin with; runway, pier, or unfinished tunnel.
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Alan Rice
May 25, 2022 1:26PM ET
Not to worry. S&P should find solid support at $2400. ALWAYS invest only what you can afford to write off (lose).
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William Bailey
May 25, 2022 1:26PM ET
In the first leg down 2600, then 1000
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Rohit Chaudhary
May 25, 2022 1:26PM ET
In your dreams mate. Nothing comes with being a perennial bear you know
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