'Big Short' Michael Burry betting on a market crash just like in 2008

[marylander1940]

OP note: Is this because of China's economic weakness and demographic collapse? 

 

"The Big Short" Investor Michael Burry Just Made a $1.6 Billion Bet Against the Stock Market @themotleyfool #stocks $SPY $QQQ

WWW.FOOL.COM

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Burry's Scion Asset Management just bought a truckload of put options in a bet against the market.

 

[marylander1940]

 

[MikePDNA51]

Every year someone famous claims the economy is going to collapse worse than 2008. Last recession was COVID, recesssions happen every 4-8 years, so it is possible but not likely. Try investing in Vanguard S&P ETF VOO

[mike carey]

Economists have successfully predicted 23 of the last two recessions.

[+ stevenkesslar]

16 hours ago, mike carey said:

Economists have successfully predicted 23 of the last two recessions.

Sweetie.  That's awfully optimistic of you.  😉

I don't pay that much attention to Burry.  I actually prefer his Christian Bale alter ego.  But when I did check in in January of this year he correctly predicted 0 of the first 2 market dips.

I remember the second tweet in particular because he was making a sensible argument that the beginning of this year looked a lot like one of the 2001 bear market rallies.  Implying that it might be a long way down.  Instead, it was a long way up.  Same difference, right?  🙃

What was most interesting about that article @marylander1940 posted is it said Burry recently bought Expedia and MGM.  In the first month or so of COVID Expedia lost over half its value.  MGM tanked from like $35 a share to almost $5 a share.  Both have recovered.  Although when Burry bought them in Q2 2023 you can make an argument they were in buy the dip territory.  

The equivalent of those January tweets is everybody is being very impatient waiting for over a year for the next recession to arrive.  I can't see why Burry, or anyone, would buy Expedia or MGM if they thought we were right about to enter a recession. 

Then again, I predicted 0 of the last 23 times Christian Bale looked sexy.  Including in The Big Short.  So what do I know?

Edited August 18, 2023 by stevenkesslar