Hedge fund manager Michael Burry, who predicted the 2008 housing crisis and was portrayed in the movie “The Big Short,” changed his mind on the market after he issued a serious warning to investors earlier this year.
Surprising “I Made a Mistake” Message From Michael Burry
“Sat.” Burry wrote in a one-word tweet the day before he deleted his Twitter profile in February. He shared a message. In a tweet on Thursday, Burry said he “made a mistake by saying sell”.
I was wrong to say sell.
— Cassandra BC (@michaeljburry) March 30, 2023
In another tweet on Thursday, Burry praised the current generation of investors for their resilience and willingness to buy lows:
“If we go back to the 1920s, there was no ‘bottom-up’ generation like you. Congratulations.”
Burry currently manages approximately $340 million at Scion Asset Management. He routinely deletes his Twitter account with the username @michaeljburry and keeps it private.
Burry is known for his divergent and bearish views on the market. It warns of a resurgence of inflation, the collapse of the US stock market and a recession that will last for many years in the US.
It also took a position against high-priced stocks like Tesla and Cathie Wood’s Ark Innovation fund in 2021, nearly liquidating its US stock portfolio in the second quarter of last year.
burry before of bitcoin He expressed doubts about his long-term prospects and said he expects authorities to release their own digital notes and coins, suppressing threats to their currencies. He also said that he is not short on Bitcoin as “anything is possible” in the near future.
*Not investment advice.
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