Most people dismiss Michael Burry as a broken clock. Yet, since the start of 2019 he has been spot on (albeit a bit early) on literally everything: 1. Gamestop valuation (guy inadvertently caused it to spike). 2. The Fed induced pandemic inflation (saying since start of pandemic). We all know now this is indeed true. 3. The Fed not being able to control inflation (said so since mid 2021). We all know this is true too: The Fed made a mistake as they thought inflation was transitory and would self correct. 4. Stock market tanking (said so since mid 2021): turned out to be true in 2022. S&P500 down 20% YTD and Dow down 8-10%. 5. Correctly bet against Tesla (Tesla stock in freefall: down 63% YTD vs 20% for S&P500) 6. Said crypto and meme stocks will crash (bitcoin down 70+% ytd) 7. Earnings compression due to bullwhip effects: XRT down 35% YTD and RTH down 20%. Amazon leads the way by getting annihilated (50+% down YTD). Target down 35%, Home Depot, Loweās, Costco, Walgreens, Albertsons down approx 20%-30%. Even Walmart admitted to this analysis and went down 15% in Q2 (although it has recovered since then). 8. Bond market tanking: the guy shorts against the entire bond market in 2021 and he won. This the poll: do folks still think Michael Burry is a broken clock given 100% accuracy since 2019? TC: 350k before AMZN crash. Now š„
When you say there is a recession coming every year. Youāll be right one year lol
Americans need to learn that the federal reserve is responsible for all boom and bust cycles. Once they understand that, and how foreign central banks control their money supply, they'll be less shocked and less reliant on media figure to tell them likely outcomes
Boom and bust cycles were more prevalent prior. See all the boom and busts prior to 1913. See non-USD currency (eg state currency) that have gone to zero leaving people holding them completely broke.
Uhh have you heard of the Great Depression? This just screams uninformed opinion
Early but always correct.
I predict another recession will happen after 2023.
wonder those vote "yes i believe" will still believe in him when market was hot.
People donāt realize that even though his tweets are mostly negative, he actively invests in companies that arenāt overvalued. He had a pretty big position in GOOG after covid and sold it before the downturn. Itās not like he is always shorting the market.
Michael Burry is alright, but Peter Schiff is the GOAT š
Actually, stocks always go up or else the country/economy dies. If spx goes to $0, America is done for. It always goes up because of inflation.
This is not what 100% accuracy means
Even a wrong clock gives correct time 2 times. For me it was a very smart extended friend who said that in 2020 December holiday party that government will induce inflation because thatās the only way it can reduce itās balance sheet(deprecating $ value) & it will affect growth stock. I didnāt know much about economics back then(still donāt know much) but she was correct. She was also correct in hoarding commodities and oil stock in March 2020 & sold it for profit Later she quit her job and doing trading full time and off lately she is bullish on META out of other stocks.
New York
10h
670
Real talk: in what way private schools are better than public in nyc?
India
11h
612
Why Worshipping Lord Ram Important in Hinduism?
Tech Industry
5h
916
Racism towards Indians
Tech Industry
3h
520
Am I racist if I donāt want to marry a Southeast Asian?
Tech Industry
Yesterday
136
[Poll] What field do you work in?
Everyone is right the Nth time. Am predicting a crash since 2017 and it finally happened
This. Burry predicted a crash since 2019, but SPY went up like 50% after that. Of course it had to come down at some point.
I am guessing the only reason s&p went up in 2020 and 2021 was because covid forced the Fedās hand. The Fed only had 2 choices at that point: print money and flood the markets with that or face a giant recession. I donāt think anyone on this planet could have apriori known covid would become such a huge thing. The fact that a minor increase in rates in Q1 caused such a mayhem in stock and bond market tells me that all the āincreaseā in those 2 years was just a house of cards.