{"id":491014,"date":"2026-05-18T18:29:15","date_gmt":"2026-05-18T18:29:15","guid":{"rendered":"https:\/\/www.europesays.com\/ie\/491014\/"},"modified":"2026-05-18T18:29:15","modified_gmt":"2026-05-18T18:29:15","slug":"michael-burry-sounds-alarm-but-markets-send-mixed-signals-the-irish-times","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/ie\/491014\/","title":{"rendered":"Michael Burry sounds alarm, but markets send mixed signals \u2013 The Irish Times"},"content":{"rendered":"

Michael Burry is in the headlines again, with the Big Short investor saying today\u2019s market<\/a> feels like the \u201clast months of the 1999-2000 bubble\u201d.<\/p>\n

Burry cites one analysis which found that the top 10 Nasdaq<\/a> 100 companies are up 784 per cent over the past year, ahead of even the most frenetic phase of the 1990s boom. He also argues that today\u2019s valuations are higher than they seem, with some key technology stock earnings being overstated. <\/p>\n

Critics sigh that we have seen multiple Burry warnings of market excess in recent years, and repeated calls for severe market dislocations that have not materialised.<\/p>\n

Burry rejects the perma-bear label, and points to correctly identifying turning points in 2000 and 2008, as well as calling 2021\u2019s meme-stock mania (although who didn\u2019t?) and 2023\u2019s brief bank stock run.<\/p>\n

Many would agree that pockets of the market look stretched today. Semiconductors have seen extreme momentum, following what Bespoke Investment calls \u201cone of the most epic runs in history\u201d. Technology stocks in general have been on fire, with Bespoke noting the US technology sector gained more than 30 per cent in the 30 trading days that followed the Iran war low on March 30th.<\/p>\n

[\u00a0AI bubble? Big Short investor Michael Burry\u2019s bold calls often miss the markOpens in new window<\/a>\u00a0]<\/p>\n

However, the broader picture is less uniform. Earnings growth has been extremely strong \u2013 so strong, in fact, that valuation multiples in the technology sector have actually fallen. <\/p>\n

Investors are being discriminating, with companies that miss earnings being punished more severely than usual. Retail investor sentiment surveys are decidedly lukewarm, with not a hint of euphoria.<\/p>\n

Besides, momentum has an awkward tendency to persist. All too often, strong markets get much stronger.<\/p>\n

The difficulty, as ever, is timing. The difference between \u201cI was early\u201d and \u201cI was wrong\u201d is a subtle one, and often irrelevant to investors living through it. <\/p>\n

Does today\u2019s market resemble 1999? Or is it more like 1997?<\/p>\n

For long-term investors, the least unsatisfactory answer may simply be to stay invested. <\/p>\n","protected":false},"excerpt":{"rendered":"Michael Burry is in the headlines again, with the Big Short investor saying today\u2019s market feels like the…\n","protected":false},"author":2,"featured_media":491015,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[73],"tags":[19360,15852,79,207,179,18,70264,19,36247,70265,11092,43577,17,50619,188,969,1902,18113,213,19363,12443,80351,22234,992,3070,19364,19365,19366,107,1543],"class_list":["post-491014","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-american","tag-americas","tag-business","tag-business-news","tag-economy","tag-eire","tag-i-p-o","tag-ie","tag-initial-public-offering","tag-initial-public-offerings","tag-ipo","tag-ipos","tag-ireland","tag-logo","tag-markets","tag-new-york-city","tag-new-york-stock-exchange","tag-north-american","tag-nyse","tag-securities","tag-sign","tag-signage","tag-signs","tag-stocks","tag-u-s","tag-u-s-stock-market","tag-u-s-a","tag-united-states-of-america","tag-us","tag-usa"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@ie\/116597002397864470","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/491014","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=491014"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/491014\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/491015"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=491014"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=491014"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=491014"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}