Don’t look now but Michael Burry just bet huge AGAINST the market
A few weeks ago, I made my pitch that the stock market is way overdue for a big-time correction.
It wasn’t just about the economic headwinds — you know, like a war, massive inflation, super hawkish monetary policy making the cost of borrowing ludicrously high, etc.
It was that the market had once again become so frothy that it has lost all touch with reality.
When the Wall Street Journal was noting that crypto and meme stocks were hot again — see Carvana’s 1,000% gain — it signaled to me that the end was nigh.
It wasn’t that I was unhappy my growth portfolio was up 40% since the winter. Quite the contrary.
But even I know I’m not that smart.
Something had to give.
So I made my pitch in a piece called One flashing red signal the stock market is probably about to crash and bought some inverse ETFs to ride the market back down.
And it looks like one of the most legendary hedge fund managers agrees with me.
Massive bet against the market
According to Reuters, Michael Burry has made an enormous bet against the market too.
