"Michael Burry, the contrarian investor who called the 2008 financial crisis, is back with his unique blend of dire warnings, cryptic messages, winking memes, and pop-culture references. The Scion Asset Management chief has returned to X after a two-year hiatus to sound the alarm on the AI boom. Where advocates see a revolutionary technology that will supercharge productivity and generate massive profits, he sees hype, speculation, and excess."
"Burry, whose iconic bet against the mid-2000s housing bubble was immortalized in the book and movie "The Big Short," kicked off his comeback with a single, ominous post on Thursday. "Sometimes, we see bubbles. Sometimes, there is something to do about it. Sometimes, the only winning move is not to play," he wrote. The third sentence is a nod to the movie "WarGames," where an AI supercomputer runs thousands of simulations of nuclear war and discovers all of them end in mutual destruction. Burry's quote underscores how perilous he believes today's market is for investors."
Michael Burry resumed posting on X after a two-year break to warn about what he sees as AI-driven market mania and excess. He compared the AI spending boom to past bubbles and used an ominous, movie-referencing post to caution investors about speculative risk. Burry updated his profile and promoted a forthcoming project titled "Cassandra Unchained: Missteps to Mayhem," signaling continued public engagement. He has placed wagers betting against major AI-related companies such as Nvidia and Palantir, with analysts noting those short positions could profit if the firms miss forecasts.
Read at Business Insider
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