- The “Big Short” investor tweeted a dire warning of an looming market bubble after a 10-week break from Twitter.
- “People always ask me what is going on in the markets,” Burry tweeted. “It is simple. Greatest Speculative Bubble of All Time in All Things. By two orders of magnitude. #FlyingPigs360.”
- Burry compares the hype around bitcoin and meme stocks to infamous market bubbles of the past, warning that the stock market is “dancing on a knife’s edge.”
“Michael Burry on Tuesday warned of the biggest market bubble in history, suggesting that his concerns about rampant speculation only grew during his 10-week hiatus from Twitter.
“People always ask me what is going on in the markets,” the investor tweeted. “It is simple. Greatest Speculative Bubble of All Time in All Things. By two orders of magnitude. #FlyingPigs360.”
The hashtag was likely a reference to a famous saying in investing: “Bulls make money, bears make money, but pigs get slaughtered.” Burry has repeatedly told investors that they’re being too greedy, speculating wildly, shouldering too much risk, and chasing unrealistic returns.
The Scion Asset Management chief deleted his Twitter profile in early April after sounding the alarm on Tesla stock – which he’s short – as well as GameStop, bitcoin, dogecoin, Robinhood, SPACs, inflation, and the broader stock market. He resumed tweeting on Monday.
Burry is best known for his billion-dollar bet against the US housing bubble in the mid-2000s, which was immortalized in the book and the movie “The Big Short.” He also helped lay the groundwork for GameStop’s comeback this year, as he bought a stake in the video-game retailer in 2019 and wrote several letters to its board.
The investor, who has complained many times about his warnings being ignored, has “Cassandra” as his display name on Twitter, a reference to the priestess from Greek mythology who was cursed by the gods to share true prophecies but never to be believed.
Burry’s latest tweet echoed his other cautions. For example, he’s compared the hype around bitcoin, electric vehicles, and meme stocks to the dot-com and housing bubbles and said earlier this year that the stock market was “dancing on a knife’s edge…”
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