I warned you all about Michael Burry:'n'n> Burry’s $912M in Palantir puts is a high-risk move that would vaporize most portfolios if it goes sideways.
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I warned you all about Michael Burry:
Burry’s $912M in Palantir puts is a high-risk move that would vaporize most portfolios if it goes sideways. I wouldn’t touch that position. Too much capital. Too much downside.
You know who should’ve listened? Burry himself.
Because look at what just happened: he’s shutting down Scion Asset Management after those massive shorts blew up. He went all-in, the trades went against him, and the whole thing came down.
And the worst part is how many people followed him straight into the abyss. They didn’t do their own diligence. They just assumed the Big Short guy still had a magic touch.
This is exactly why I keep warning people away from bubble narratives and hero worship. They don’t save you when the trade is bad.
Michael Burry of 'Big Short' fame is closing his hedge fund
Michael Burry, the investor whose successful bets against the U.S. housing market in 2008 were recounted in the movie "The Big Short," is closing his hedge fund, Scion Asset Management.
Reuters (www.reuters.com)
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I warned you all about Michael Burry:
Burry’s $912M in Palantir puts is a high-risk move that would vaporize most portfolios if it goes sideways. I wouldn’t touch that position. Too much capital. Too much downside.
You know who should’ve listened? Burry himself.
Because look at what just happened: he’s shutting down Scion Asset Management after those massive shorts blew up. He went all-in, the trades went against him, and the whole thing came down.
And the worst part is how many people followed him straight into the abyss. They didn’t do their own diligence. They just assumed the Big Short guy still had a magic touch.
This is exactly why I keep warning people away from bubble narratives and hero worship. They don’t save you when the trade is bad.
Michael Burry of 'Big Short' fame is closing his hedge fund
Michael Burry, the investor whose successful bets against the U.S. housing market in 2008 were recounted in the movie "The Big Short," is closing his hedge fund, Scion Asset Management.
Reuters (www.reuters.com)
@atomicpoet
I remember watching for years, reading about the mortgage-backed securities and house flipping and banks lending to people with no down payment mortgages on houses they couldn't afford. It took years expecting the bubble to burst and then when it did, I was surprised so many people were surprised.You're right, though. The stock market is mostly gambling in the short term.
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@atomicpoet
I remember watching for years, reading about the mortgage-backed securities and house flipping and banks lending to people with no down payment mortgages on houses they couldn't afford. It took years expecting the bubble to burst and then when it did, I was surprised so many people were surprised.You're right, though. The stock market is mostly gambling in the short term.
Katrina Katrinka :donor: Recessions hit at irregular intervals. They cannot be timed. Some arrive much sooner or much later than people expect.
Asset bubbles come and go, but not everything that rises is a bubble.
What is consistent is this: across more than a century of data, broad equity markets have spent most years climbing, and the long-term trend has been decisively upward.
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Katrina Katrinka :donor: Recessions hit at irregular intervals. They cannot be timed. Some arrive much sooner or much later than people expect.
Asset bubbles come and go, but not everything that rises is a bubble.
What is consistent is this: across more than a century of data, broad equity markets have spent most years climbing, and the long-term trend has been decisively upward.
@atomicpoet
Why yes, I am GenX and believe in Index fund long-term investing with diversified mutual funds.
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A Chris Trottier shared this topic
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I warned you all about Michael Burry:
Burry’s $912M in Palantir puts is a high-risk move that would vaporize most portfolios if it goes sideways. I wouldn’t touch that position. Too much capital. Too much downside.
You know who should’ve listened? Burry himself.
Because look at what just happened: he’s shutting down Scion Asset Management after those massive shorts blew up. He went all-in, the trades went against him, and the whole thing came down.
And the worst part is how many people followed him straight into the abyss. They didn’t do their own diligence. They just assumed the Big Short guy still had a magic touch.
This is exactly why I keep warning people away from bubble narratives and hero worship. They don’t save you when the trade is bad.
Michael Burry of 'Big Short' fame is closing his hedge fund
Michael Burry, the investor whose successful bets against the U.S. housing market in 2008 were recounted in the movie "The Big Short," is closing his hedge fund, Scion Asset Management.
Reuters (www.reuters.com)
@atomicpoet The best comment I read on this "We gotta give him some credit, he predicted 12 of the last 2 crashes."
