Michael Burry is sticking with his bearish view even as stocks trade near record highs.
“I continue to believe it is possible we are near a major top, and possible a 1987-type fall,...” Burry wrote in a Substack post.
While comparisons between the AI bubble and the dotcom bust are more common, Burry instead points to 1987, when the Dow plunged 22.6% in a single session (the largest one-day percentage fall in its history).
The Dow would need to fall more than 12,000 points in a single day to exceed Black Monday's 22.6% percentage decline.
Burry pointed to the speed of the latest rally as one reason for caution. The Dow recently gained around 5% over four sessions.
But Thursday brought some weaknesses. The Dow ended a five-session winning streak, while the S&P 500 also pulled back from its highs. Gold, meanwhile, extended its rally into a fourth consecutive session, reaching its highest level in seven weeks.
“I continue to believe it is possible we are near a major top, and possible a 1987-type fall,...” Burry wrote in a Substack post.
While comparisons between the AI bubble and the dotcom bust are more common, Burry instead points to 1987, when the Dow plunged 22.6% in a single session (the largest one-day percentage fall in its history).
The Dow would need to fall more than 12,000 points in a single day to exceed Black Monday's 22.6% percentage decline.
Burry pointed to the speed of the latest rally as one reason for caution. The Dow recently gained around 5% over four sessions.
But Thursday brought some weaknesses. The Dow ended a five-session winning streak, while the S&P 500 also pulled back from its highs. Gold, meanwhile, extended its rally into a fourth consecutive session, reaching its highest level in seven weeks.
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Free TradingView Premium:
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Investing in complex securities involves risk. You may lose some or all of your invested capital.
blackbull.com/en/platforms/tradingview/?utm_source=tradingview
Investing in complex securities involves risk. You may lose some or all of your invested capital.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.