Does "The Big Short's" Michael Burry Know Something Wall Street Doesn't? He Just Placed Bets Against AI and Sees the "Beginning of the End."
Burry correctly predicted the subprime crash several years ago.
Overview
Michael Burry gained fame for making an unpopular-at-the-time bet that turned out to be spot on. Ahead of the 2008 financial crisis, the hedge fund manager bet against the U.S. housing market -- as it turned out, he correctly predicted the subprime market crash and made more than $700 million for investors. Burry's story was brought to the big screen in the movie "The Big Short" several years later.
Meanwhile, Burry has continued to invest -- and make moves that generally don't go along with the crowd. This well-known investor last year started a Substack newsletter where he documents certain trades and shares his thoughts on the market. And Burry's latest moves include significant bets against artificial intelligence (AI) stocks -- the players that have driven stock market gains over the past three years.
Details
In fact, Burry even signaled that this may be the "beginning of the end." Does Burry know something Wall Street doesn't? Let's find out.
Source
Originally published at www.fool.com.
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