‘Big Short’ Burry Says Market is ‘Like Watching a Plane Crash’
2022.05.25 20:02
‘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.
