Michael Burry cryptically says market has ‘no idea how short I am’

Michael Burry cryptically says market has ‘no idea how short I am’

“The Huge Brief” sage Michael Burry revealed he’s as much as a few of his outdated tips throughout this newest interval of market upheaval.

Burry, whose wager in opposition to subprime mortgages have been immortalized within the 2015 movie, made a cryptic reference to new quick positions on his Twitter account on Tuesday evening.

“You don’t have any thought how quick I’m,” Burry tweeted.

The Scion Asset Administration boss didn’t reveal the belongings or shares on which he’s presently quick.

Burry’s newest put up got here throughout per week by which the speedy collapse of cryptocurrency buying and selling platform FTX sparked fears {that a} contagion might unfold by the remainder of the sector.

The investor touched on the continuing cryptocurrency massacre in a separate tweet, noting that gold might re-emerge as a most well-liked refuge.

“Lengthy thought that the time for gold can be when crypto scandals merge into contagion,” Burry tweeted.

Burry has since deleted each posts, however screenshots have been captured by the @BurryArchive Twitter account. The hedge fund wizard usually deletes his tweets shortly after they’re posted.

Earlier this week, the hedge fund boss’s agency disclosed that it took a handful of latest “lengthy” positions throughout the third quarter.

Michael Burry famously wager in opposition to the US housing market throughout the Nice Recession.Getty Photos

Scion expanded its stake in non-public jail operator Geo Group and made new bets on one other non-public jail agency, CoreCivic, in addition to media agency Qurate Retail, Constitution Communications, Liberty Latin America and rocket maker Aerojet Rocketdyne.

The positions, disclosed in a regulatory submitting, got here after Burry’s agency raised eyebrows by dumping its complete inventory portfolio the earlier quarter. However the submitting didn’t embody any particulars on Scion’s quick positions or abroad inventory holdings.

In September, Burry stated that he “needs to be” shorting Elon Musk’s electrical automotive agency Tesla, however claimed he didn’t have such a place.

Burry has repeatedly warned that US shares are within the midst of “the mom of all crashes.”

In September, Burry pointed to plunging cryptocurrency costs and a crash in so-called “meme shares” as indicators of cascading market situations much like these skilled throughout earlier downturns in 2008 and 2000.

Greater than a yr earlier in June 2021, Burry warned that irrational “worry of lacking out” buying and selling in cryptocurrencies and different speculative sectors was fueling erratic market situations.

“All hype/hypothesis is doing is drawing in retail earlier than the mom of all crashes,” Burry tweeted on the time. “When crypto falls from trillions, or meme shares fall from tens of billions, #MainStreet losses will method the dimensions of nations.”

About Muji Sakawari

Check Also

Devils drop Flyers, set club mark for consecutive road wins

Devils drop Flyers, set club mark for consecutive road wins

PHILADELPHIA — Jack Hughes, Dawson Mercer and Fabian Zetterlund scored, and the New Jersey Devils set a membership document with their eleventh straight highway victory, beating the Philadelphia Flyers 3-2 [...]