\u201cHe\u2019s been right before. Few listened back then. They made a whole movie about it. Now, he sees trouble looming on the horizon again.\u201d<\/p>\n
These ominous words come from Business Insider and they refer to Michael Burry, the investor made famous by The Big Short. Burry recently deregistered his hedge fund<\/a> but remains a vocal contrarian, now airing his bearish perspectives on AI stocks such as Nvidia<\/a> on his new Substack, Cassandra Unchained ($379, or about \u20ac327, annually).<\/p>\n Burry sees parallels with the late-1990s tech bubble and is unconvinced by reassurances from today\u2019s policymakers, viewing them as no more reliable than Alan Greenspan\u2019s famously misplaced dismissal of US housing bubble concerns.<\/p>\n Critics dismiss Burry as a one-trick pony, which is arguably harsh. He shorted tech during the dot-com bust and bought value stocks, predicted the subprime crash, and flagged 2021\u2019s GameStop frenzy. Contrarian voices such as his remind investors to question euphoria.<\/p>\n However, he is no all-seeing prophet, and many of his warnings have been spectacularly off-target. In 2019 he foresaw a crash in passive investing. \u201cLike most bubbles, the longer it goes on, the worse the crash will be,\u201d he warned.<\/p>\n In 2021 he warned of \u201cthe greatest speculative bubble of all time in all things\u201d.<\/p>\n In 2022 he suggested the S&P 500 could halve and fall below 1,900 in coming years, but 3,500 was as low as it got, and the index is near 7,000 today.<\/p>\n In February 2023, he issued a one-word tweet: \u201cSell.\u201d<\/p>\n In these and other cases, buying the S&P 500 would have been far more profitable \u2013 six\u2011month returns averaged 34 per cent, noted market strategist Charlie Bilello in 2023.<\/p>\n Burry is famous for his apparent prescience, yet his post\u2011Big Short record shows that all too often, bold calls really don\u2019t age well.<\/p>\n","protected":false},"excerpt":{"rendered":"\u201cHe\u2019s been right before. Few listened back then. They made a whole movie about it. Now, he sees…\n","protected":false},"author":2,"featured_media":180096,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[73],"tags":[79,18,19,17,292,102080],"class_list":{"0":"post-210851","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-business","9":"tag-eire","10":"tag-ie","11":"tag-ireland","12":"tag-nvidia","13":"tag-sp500"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@ie\/115648325430709433","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/210851","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=210851"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/210851\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/180096"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=210851"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=210851"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=210851"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}