Michael Burry, of “The Big Short” fame and founder of the hedge fund Scion Asset Management, took to Twitter again, this time warning of “silliness” in the markets.
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In a now deleted August 4 tweet, Burry wrote, “The Silliness is back. After 1929, after 1968, after 2000, after 2008, the strain of Silliness that transformed bulls into bubbles completely and utterly disappeared. But that familiar COVID-era Silliness is not dead yet. Like 2001 before Enron, before 9/11, before WorldCom,” according to Bloomberg.
Burry usually deletes his tweets, which are often cryptic, shortly after they’re posted.
As Bloomberg reports, it’s not entirely clear what he is referring to, as he is comparing “this period in markets to 2001 before the Sept. 11 terrorist attacks and the Enron and WorldCom scandals, when the dot-com bubble was unwinding.”
Burry has been posting his gloomy views about the economy and the financial markets for quite some time. On July 27, in another now-deleted tweet, he wrote, “These earnings reports and by Jove the whole season have a ‘Last Hurrah’ feel,” according to the New York Post.
That tweet came after better-than-expected earnings reports from Microsoft and Google parent Alphabet, the Post added.
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Earlier in July, he again shared his a negative outlook, suggesting a possibly expanded Ukraine war and continued supply chain disruptions would all lead to raising “the lower bound of the long-term inflation rate,” as GOBankingRates previously reported.
In that now-deleted tweet, Burry wrote, “Seems China moves on Taiwan in 2023, as the war in Ukraine spreads into the EU, maybe via Lithuania. Onshoring/blue collar shortages plus global supply chain restructuring raise long-term inflation’s floor even as the bullwhip cycles lower to that end,” according to Bloomberg. Burry also added a link to a Bloomberg article — “US factory boom heats up as CEOS yank production.”
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This article originally appeared on GOBankingRates.com: ‘Big Short’ Michael Burry Warns of Stock Market ‘Silliness’ in Another Cryptic Tweet
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