The Big Short / Netflix
Michael Burry has been sounding the alarm for months about hype and speculation in markets and warned that the reckless promotion and buying will result in a devastating crash.
The investor has focused on Tesla over the past few weeks, which he briefs, as well as bitcoin, Robinhood, and the GameStop frenzy.
The head of Scion Asset Management is best known for his billion-dollar bet against the US housing bubble of the mid-2000s, immortalized in Michael Lewis’ book “The Big Short”. He was played by Christian Bale in the adaptation of the film.
Here are the 17 best tweets from Burry, lightly edited and summarized for clarity:
1. “Markets have now bubbled over in a dangerous way.”
“People say I did not warn last time. I did, but no one listened. Therefore I warn this time. And yet, no one listens. But I will have proof that I warned.”
3. “Fashions today (#BTC, #EV, SAAS, #memestocks) are like housing in 2007 and fiber / .com / comm / routers in 1999. In general, this is not wrong, just driven by speculative fervor to insane heights from which the fall will be dramatic and painful. ‘
4. “Speculative stock #bubbles are finally seeing the gamblers incur too much debt. #MarginDebt popularity is accelerating to a peak. At this point, the market is dancing on a knife edge. Passive investment’s IQ drain, and #stonksgoup hype , contributes to the danger. “
5. “So, @elonmusk, yes, I have short $ TSLA, but some free advice for a good guy …. Seriously postpone 25-50% of your shares at the current ridiculous price. It’s not “You would not dilute it. You would tie up your stability and countless options. If there are buyers, sell the #TeslaSouffle.”
6. “Well, my last Big Short got bigger and bigger and BIGGER too …. $ TSLA $ 60 billion increase in market capitalization today alone … 1 GM, 2 Hersheys, 3 Etsys, 4 Dominos, 10 Vornados. .. enjoy it while it lasts. ‘
7. “$ BTC is a speculative bubble that carries more risk than chance, although most proponents are correct in their arguments as to why it is relevant at this point in history. If you do not know how much leverage is involved- on, you may not know enough to own it. ‘
“I do not hate $ BTC. In my opinion, however, the long-term future is slim for decentralized crypto in a world of legally violent, heartless centralized governments with #blood interests in monopolies on currencies. In the short term anything is possible – why I’m not short #BTC. “
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9. ‘Maybe a girls’ breakfast. We are in a bubble-top in every way. ‘ – comment on the hype surrounding dogecoin.
10. “I went public when it was cheap, and I went public when it was time to get out. Same with anything else. To name it as I see it, and to share a little. In 2005 -6 it was not so easy to share. “- to invest in GameStop and then leave.
“Hey, $ GME is a $ stink right now and could go over $ 1,000, but if I earn a life-changing amount in this stock, I’ll get it right. Main Street has Wall Street at the coyotes. Great story / LOVE it. Tea it: bulls make money, bears make money, # pigletslaughtered. # Fundamentals. “
12. “There really can be no other GME. Nothing else is / was even close to that short (100 +% float), so small (microcap) and so hated / ignored / fired before the #thebigshortsqueeze. It was a unique perfect setup. There will be no such thing again. Much like #thebigshort. “
13. “If I put $ GME on your radar, and you did well, I’m really happy for you. But what’s going on now – there must be legal and regulatory consequences. It’s unnatural, insane and dangerous.”
14. “If you are not using #robinhood, you need to see it to understand what #verification of #stonks/options means. So here it is. If it seems to you like a serious investment program, and NOT a dangerous casino not ‘fun for all ages,’ you are #gamified. ‘
15. “Special Purpose Acquisition Companies, or #SPACs (~ blankcheck businesses), are hotter than ever before. Companies that publish in this way are not well rated. Anyone with a reputation has the incentive to.” Do a SPAC and complete a transaction regardless of quality. “
“It’s too early, she’s too hot, and today short sellers are shy, but Wall Street will eventually be ruthless.” – about Ark founder and CEO Cathie Wood.
“I’m not a presidential candidate. I’m all too wrong. Do you really want to see a President of the United States with your eyes? Nobody really wants that. I’ll have to wear a cloth, and I do not want to wear a cloth. ‘
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