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'Big Short' investor Michael Burry says he was 'wrong' to tell investors to sell

Published Mar 30, 2023 01:20PM ET Updated Mar 30, 2023 01:27PM ET
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© Reuters 'Big Short' investor Michael Burry says he was 'wrong' to tell investors to sell
 
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By Sam Boughedda

Hedge fund manager and founder of Scion Asset Management, Michael Burry, said in a tweet on Thursday that he was "wrong" to tell investors to sell.

The "Big Short" investor said "sell" on January 31 in a one-word tweet, and while there were no other details provided, it seemed to be a clear indication of his market view.

While U.S. equities fell a few days after in February, March saw sentiment change once again, with stocks remaining resilient despite significant uncertainty in the banking industry following the collapse of SVB.

Burry, who predicted the 2008 housing crisis, had been calling for a market crash for a while, tweeting in November last year that "we are really looking at an extended multi-year recession."

However, in a second tweet on Thursday, he wrote: "Going back to the 1920s, there has been no BTFD generation like you. Congratulations."

'Big Short' investor Michael Burry says he was 'wrong' to tell investors to sell
 

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Comments (3)
Ken Chao
Ken Chao Apr 14, 2023 9:09AM ET
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you can't be right every time, esp on extreme prediction
Connecticut Yankee
A_Jaundiced_Eye Mar 30, 2023 2:01PM ET
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The market crash begins when the last bear capitulates.
Brad Albright
Brad Albright Mar 30, 2023 2:01PM ET
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Don't you mean when the last bull capitulates?
Gancho PD
Gancho PD Mar 30, 2023 2:01PM ET
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adriaan kuhn
adriaan kuhn Mar 30, 2023 1:32PM ET
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once again he's too soon, inflation is not at its peak, too much political turmoil and civil unrest. everyone (bankerd, politcians) have their handsfull about current crisis's that they dont see the big picture anymore
First Last
First Last Mar 30, 2023 1:32PM ET
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US "political turmoil and civil unrest" went down when Americans rejected another term for Trump.
Don Getty
Don Getty Mar 30, 2023 1:32PM ET
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he was advising to sell - the time to buy will be after the fall
jason Trulso
jason Trulso Mar 30, 2023 1:32PM ET
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ya, his premiums on the bet against the housing market cost him millions in the short term... but the billions paid off in the end. hind sight is 20 20
 
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