'Big Short' investor Michael Burry warns that 'silliness is back' in markets despite the recent rebound

Big short investor Michael Burry warned in a recent tweet that "silliness is back." Jim Spellman/Getty Images
Michael Burry warned in a recent tweet that the market is "silly".
The "big short" investor compared the current situation to the stock market crashes of 1929 and 2008.
"The well-known stupidity of the COVID-era is not dead yet," Burry said.
According to Michael Burry, the markets are starting to behave irrationally again.
The investor and hedge fund manager warned of a surge in "silliness" after the S&P 500 surged 8.6% to recover from a 2022 low.
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"The silliness is back," Burry said in a now-deleted tweet. "After 1929, after 1968, after 2000, after 2008, the silliness that turned bulls into bubbles completely and utterly disappeared."
"But this well-known COVID-era stupidity is not dead yet," he added.
Burry is best known for betting against the housing bubble of the mid-2000s, as illustrated in Michael Lewis' book The Big Short. Christian Bale then portrayed him in a film adaptation.
Burry has also inadvertently fueled the meme-stock craze by buying a stake in GameStop, placing high-profile bets against Elon Musk's Tesla and Cathie Wood's Ark Innovation ETF over the past year, and tweeting multiple times that asset prices are rising in the pandemic -era would culminate in a historic crash.
Read more: 19 books to help you understand bear markets and successfully invest in bear markets amid recession fears linger, according to Wall Street's top stockpickers
Read the original article on Business Insider

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