economy
Michael Burry bets against rally: 'We are near a major top, and possible a 1987-type fall'
'I continue to believe it is possible we are near a major top, and possible a 1987-type fall,' Burry said in a Tuesday Substack post.
TL;DR
- Michael Burry remains bearish despite the S&P 500 reaching record highs.
- He predicts a potential "1987-type fall" in the stock market.
- Burry is skeptical of the AI boom, citing unsustainable financing arrangements.
- He believes declining volatility encourages systematic investors to increase leverage.
- Burry holds short positions in iShares Semiconductor ETF (SOXX), Micron, Nvidia, Caterpillar, Palantir, Tesla, and Applied Materials.
- Most of his short positions are profitable, except for the one against Nvidia.