Report: ‘Big Short’ Investor Michael Burry Bets $1.6 Billion on Stock Market Crash
Michael Burry, the investor who predicted the 2008 housing crash and was the subject of the “Big Short” movie, has bet more than $1.6 billion on a Wall Street crash. Burry is using more than 90% of his portfolio to bet on a market downturn, according to filings. Warren Buffett has been selling rather than buying. Economics professor Steve Hanke said, “The money supply is fuel for the economy, and it has been contracting over the last year. Now, the rate of contraction is -3.6%/yr., something we have not seen since 1938. Following significant changes in the money supply, the economy changes course with a lag of 6-18 months. At present, the economy is running on fumes and a 2024 recession is inevitable.”
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https://needtoknow.news/2023/08/report-big-short-investor-michael-burry-bets-1-6-billion-on-stock-market-crash/