ECON 'Big Short' investor Michael Burry warns of 'greatest speculative bubble of all time'

Tristan

Tristan

Has No Life - Lives on TB
Article from Kitco, a gold and PM's oriented site; as it quoted Michael Burry of "The Big Short" fame, thought it might have some currency (ha!)

'Big Short' investor Michael Burry warns of 'greatest speculative bubble of all time'

Anna Golubova
Wednesday June 16, 2021 13:43
Kitco News
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(Kitco News) After deleting all his tweets just over two months ago, the "Big Short" investor Michael Burry is back with a clear message — markets are in the biggest bubble in history.
Burry's most recent Twitter activity shows that the famous investor is worried about speculation in the markets more than ever.
"People always ask me what is going on in the markets. It is simple. Greatest Speculative Bubble of All Time in All Things. By two orders of magnitude. #FlyingPigs360," Burry tweeted on Tuesday.
The hashtag #FlyingPigs360 is likely in reference to an old Wall Street phrase: "Bulls make money, bears make money, but pigs get slaughtered," which is used as a caution against greed.


Burry was the investor profiled in Michael Lewis' "The Big Short" book about the mortgage crisis. He now runs Scion Asset Management.
Burry is most known for spotting the mortgage crisis ahead of time and making a fortune against the U.S. housing bubble. However, back in 2019, the famous investor also made millions by purchasing shares of GameStop, which was well before the Reddit frenzy took over the stock.
Back in February, he joined the inflation debate, making a comparison to the 1970s period. He told investors to brace for inflation while pointing to a boom in demand due to the fiscal stimulus being injected into the economy.
"The U.S. government is inviting inflation with its MMT-tinged policies. Brisk Debt/GDP, M2 increases while retail sales, PMI stage V recovery. Trillions more stimulus & re-opening to boost demand as employee and supply chain costs skyrocket," he tweeted in February.
Burry deleted his Twitter account in April after revealing that he was short Tesla stock and the broader market in general. He resumed his Twitter activity on Monday.



Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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S

shane

Has No Life - Lives on TB
Surprised nobody has commented on this, but then again
he's not saying anything most here don't already know.

Though, would be fascinating followup to hear where he is
now putting his money in anticipation of coming "Greatest
Speculative Bubble of All Time in All Things. By two orders
of magnitude."

Panic Early, Beat the Rush!
- Shane
 
Hacker

Hacker

Computer Hacking Pirate
shane said:
Surprised nobody has commented on this, but then again
he's not saying anything most here don't already know.

Though, would be fascinating followup to hear where he is
now putting his money in anticipation of coming "Greatest
Speculative Bubble of All Time in All Things. By two orders
of magnitude."

Panic Early, Beat the Rush!
- Shane
Click to expand...

Yep. I'm thinking real seriously about taking a position in Bitcoin.
 
Tristan

Tristan

Has No Life - Lives on TB
shane said:
Surprised nobody has commented on this, but then again
he's not saying anything most here don't already know.

Though, would be fascinating followup to hear where he is
now putting his money in anticipation of coming "Greatest
Speculative Bubble of All Time in All Things. By two orders
of magnitude."

Panic Early, Beat the Rush!
- Shane
Click to expand...


Yes it would.

It would, indeed.
 
Jubilee on Earth

Jubilee on Earth

Veteran Member
Hacker said:
Yep. I'm thinking real seriously about taking a position in Bitcoin.
Click to expand...
Other YouTubers are posting their thoughts that even Bitcoin is in its final days as nations (including the US) make plans to usher in a digital currency. If things start to implode with our dollar, that’s the only way (in their minds) they can save the wealth of the elite. Don’t bank on putting all your fiat into cryptos. Tangible assets and PMs are going to be a better bet. If you listen to Alaska Prepper, he’s constantly saying your pantry is one of your greatest assets. Things like extra tires, car batteries, canning supplies, building supplies, kitchenware, etc., etc., are all better than just holding onto fiat. Bitcoin won’t do you a bit of good if the grid goes down.
 
D

DHR43

Since 2001
Bubbles do not deflate (explode) until everyone believes that there is no bubble and that the market is absolutely and totally normal and CANNOT fall.
And not until.
So how close are we? Is EVERYONE convinced absolutely that this is totally normal?
Answer is no. Why?

The bubble hasn't blown up.
 
Twisted

Twisted

Contributing Member
His Twitter name Cassandra dropped some wild posts the past 2 days and deleted everything again.... ill look and see what he is holding and I believe he is expecting Tesla price to fall also. Ill update later
 
T

Thinwater

Firearms Manufacturer
In other words "I have shorted the market, please help make it happen for me by selling your stocks and making me rich".

Huge .gov printing/lending ends up in the market. When this stops, the market that it artificially inflates will drop. They will add more as needed until it no longer works, then the real doom comes true.
 
W

WalknTrot

Veteran Member
I note what he says, (keep track of his comments) but lightening rarely strikes twice.
We all know things are heading for a slide, but I'm not so sure he has any clearer a crystal ball than anybody else. Each one of these things unfolds/unravels a little different.
 
West

West

Senior
The way their smashing the the FIAT price of PMs as of lately. Something bad this way is going to happen, I give it less than a week from now.
 
W

WalknTrot

Veteran Member
Jubilee on Earth said:
Other YouTubers are posting their thoughts that even Bitcoin is in its final days as nations (including the US) make plans to usher in a digital currency. If things start to implode with our dollar, that’s the only way (in their minds) they can save the wealth of the elite. Don’t bank on putting all your fiat into cryptos. Tangible assets and PMs are going to be a better bet. If you listen to Alaska Prepper, he’s constantly saying your pantry is one of your greatest assets. Things like extra tires, car batteries, canning supplies, building supplies, kitchenware, etc., etc., are all better than just holding onto fiat. Bitcoin won’t do you a bit of good if the grid goes down.
Click to expand...

I don't know about internet guru's. I trust my own counsel more, but a few days ago, did a re-arrangement/checklist of the LTS stash, and I'd rather have that than bitcoin.
 
R

raven

TB Fanatic
DHR43 said:
Bubbles do not deflate (explode) until everyone believes that there is no bubble and that the market is absolutely and totally normal and CANNOT fall.
And not until.
So how close are we? Is EVERYONE convinced absolutely that this is totally normal?
Answer is no. Why?

The bubble hasn't blown up.
Click to expand...
when houses in your neighborhood start taking 2 days before getting a contract,
the bubble is in process of bursting.
 
Henry Bowman

Henry Bowman

Veteran Member
raven said:
when houses in your neighborhood start taking 2 days before getting a contract,
the bubble is in process of bursting.
Click to expand...
One down the road from me was on the market for 25 minutes.
Spoke to the realtor , he put up the sign, as he finished putting it in the ground a car drove up and made an offer $45,000 over asking price....$150,000 more than it sold for 4 years ago.
 
20Gauge

20Gauge

TB Fanatic
DHR43 said:
Bubbles do not deflate (explode) until everyone believes that there is no bubble and that the market is absolutely and totally normal and CANNOT fall.
And not until.
So how close are we? Is EVERYONE convinced absolutely that this is totally normal?
Answer is no. Why?

The bubble hasn't blown up.
Click to expand...
The fact it is still getting bigger is what amazes me.
 
20Gauge

20Gauge

TB Fanatic
raven said:
when houses in your neighborhood start taking 2 days before getting a contract,
the bubble is in process of bursting.
Click to expand...
Considering the Realtors I speak to say there is not housing for sale, I am not sure where we stand? LOL

In reality, it is hard to tell about the 2 days vs the current less than an hour due to the large number of cash offers. I would think the cash offers would stop first, then the extension of getting a contract. Who knows?

I knew 2008 was coming due to people working at MCD getting a 300k+ home with no issues. This time we are well beyond that one so I have no idea when, but only know it will crash.
 
R

raven

TB Fanatic
20Gauge said:
Considering the Realtors I speak to say there is not housing for sale, I am not sure where we stand? LOL

In reality, it is hard to tell about the 2 days vs the current less than an hour due to the large number of cash offers. I would think the cash offers would stop first, then the extension of getting a contract. Who knows?

I knew 2008 was coming due to people working at MCD getting a 300k+ home with no issues. This time we are well beyond that one so I have no idea when, but only know it will crash.
Click to expand...
you can't tell when it is a cash offer - it isn't disclosed
what you can see is whether a house is "pending" and how long.

house I sold did not get a contract for a week but it was in a "interesting" area and I expected it to take longer
 
W

WalknTrot

Veteran Member
The dealer wants the truck and the realtor wants the farm (and the land to sell off for more builds).
Indicating to me that these paid off assets are the ones to have and hold.
 
PghPanther

PghPanther

Has No Life - Lives on TB
A metals dealer finds someone who warns us of inflation and promotes it in an article online?

Gee............you don't think they have any interest in selling hard metal assets as a hedge against inflation do you?

If they think its going to happen why wouldn't they hold the metals themselves?

The world is a conjob folks.........

......especially when it comes to a financial based economy and its trading.....
 
20Gauge

20Gauge

TB Fanatic
raven said:
you can't tell when it is a cash offer - it isn't disclosed
what you can see is whether a house is "pending" and how long.

house I sold did not get a contract for a week but it was in a "interesting" area and I expected it to take longer
Click to expand...
I see your point. I am hearing direct from Realtors and not the Brokers.
 
Hfcomms

Hfcomms

EN66iq
PghPanther said:
A metals dealer finds someone who warns us of inflation and promotes it in an article online?….…


If they think its going to happen why wouldn't they hold the metals themselves?
Click to expand...


It’s not rocket science. Dealers are in the business of selling metal. Your not going to stay in business unless you have cash flow and are able to pay your bills and your employees….right? Everyone that I know in the business has their own personal holdings because they believe in what they are selling. To make such a comment to me is as nonsensical to wonder why gas station owners sell gas….why wouldn’t they keep the gas and use it themselves. Isn’t it deceptive to tell people why they need to buy gas, etc.

As far as inflation goes if you can’t see it in your own personal life all around you I don’t know what to say. I don’t need an article or a PM dealer to convince me things are rapidly falling apart as I can see that with my own eyes.
 
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