Burry Sticks to Bearish Views Amid S&P 500 Record Highs

Famed investor Michael Burry, known for predicting the 2008 financial crisis and featured in 'The Big Short', is sticking to his bearish views despite the S&P 500 reaching new highs.

In a recent Substack post, Burry warned that the market rally could end in a steep sell-off similar to the 1987 stock market crash, also known as Black Monday, when the Dow Jones Industrial Average plummeted 22.6% in a single day on October 19, 1987.

Burry attributed rising markets and lower volatility to encouraging volatility-targeting and momentum funds to increase leverage, which could further fuel the market rally.

However, Burry emphasized that he remains confident in his long-term positions but would exit if they turned decisively against him. His only unprofitable bet is against Nvidia.