‘Big Short’ Investor Michael Burry Says He Was Wrong to Advise Selling; Congratulates ‘BTFD Generation’

Famed “Big Short” capitalist Michael Burry tweeted Thursday, telling his 1.4 cardinal followers, “I was incorrect to accidental sell.” The tweet follows Burry’s informing for months that the U.S. was headed for an “extended multi-year recession” and his determination to dump each of his stocks but 1 successful August 2022.

Burry: ‘I Was Wrong to Say Sell’

Michael Burry, known arsenic “Cassandra B.C.” connected Twitter, is well-known for his predictions. He famously predicted and profited from the subprime owe situation of 2007-2008. Burry’s unconventional concern strategies led to fame erstwhile Michael Lewis chronicled Burry’s forecasting of the 2008 fiscal situation successful his publication and movie, “The Big Short.” In much caller times, Burry has been bearish again, predicting successful December that the U.S. system would falter into an “extended multi-year recession.”

In May 2022, Burry warned that the U.S. could spot a “consumer recession,” and successful August, his steadfast Scion Asset Management sold each of its stocks but one. Scion sold agelong positions successful companies specified arsenic Meta, Cigna Corp., Alphabet (Google), Bristol-Myers Squibb, and others. In January, Burry stated that helium expected the U.S. to beryllium successful a recession “by immoderate definition,” and successful March, helium compared the U.S. banking turmoil to the Panic of 1907. However, successful his latest tweets connected March 30, the renowned capitalist seems to beryllium telling a antithetic story.

“I was incorrect to accidental sell,” Burry tweeted. “Going backmost to the 1920s, determination has been nary BTFD procreation similar you. Congratulations,” the capitalist added successful different tweet.

Moreover, Burry’s tweets earlier March 30, 2023, person been erased arsenic the legendary financier has been accused of deleting tweets oregon resetting his Twitter relationship connected respective occasions. There is adjacent a Twitter relationship called @mikeburrysaved that shares Burry’s deleted tweets, and determination are many archives covering his tweets and Twitter provender from the past fewer years. There person been respective responses to Burry’s latest statements connected March 30. “You gotta beryllium kidding me,” 1 idiosyncratic tweeted successful effect to Burry’s merchantability comment.

In effect to Burry’s “BTFD generation” comment, 1 idiosyncratic said, “the dollar is worthless. What bash [you] expect radical to do?” Another idiosyncratic wrote to Burry, “There whitethorn besides beryllium nary procreation similar this 1 that feels the symptom connected the mode down successful the aforesaid way.” The capitalist is not the lone well-known entrepreneur predicting an economical downturn. Economist Peter Schiff and Robert Kiyosaki, the celebrated writer of the best-selling publication “Rich Dad Poor Dad,” are besides predicting economical calamity.

Do you deliberation Michael Burry’s latest tweets awesome a displacement successful his outlook for the economy, oregon is helium simply acknowledging the resilience of the “BTFD generation”? Share your thoughts successful the comments conception below.

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