"Dr. Michael Burry, the man behind The Big Short and, more recently, the Cassandra Unchained Substack newsletter, sees an AI bubble, and he's betting against it with bearish put options against two of the highest flyers out there: Palantir ( NASDAQ:PLTR) and Nvidia ( NASDAQ:NVDA). Even if there weren't an AI bubble, I'm sure there are a multitude of scenarios that could play out and result in pretty painful plunges for shares of the two companies."
"Either way, Burry's bearish views of AI and big tech are quite wellknown now. And with Cassandra Unchained, you can bet that he'll be chiming in every now and then with bearish commentary. Dr. Burry isn't just a bear on the tech and AI trade, though; he's also been quite vocal on his stance on cryptocurrencies, going as far as to say that Bitcoin ( CRYPTO:BTC) is "worth nothing" and that it's "the tulip bulb of our time.""
"Of course, Munger seems to have used more humorous and entertaining language when asked about Bitcoin, going as far as to refer to it as "disgusting," "like trading turds," or "rat poison." Either way, it seems like both men think Bitcoin could go to zero."
Dr. Michael Burry sees an AI bubble and has placed bearish put options on Palantir ( NASDAQ:PLTR) and Nvidia ( NASDAQ:NVDA). He warns that shares that surged rapidly can decline quickly, but such declines require timely catalysts for bearish put options to pay off. Burry has the patience and liquidity to wait for catalysts, whereas many retail traders may lack that ability. Burry publishes Cassandra Unchained and is likely to continue voicing bearish commentary on tech and AI. He is also a vocal cryptocurrency skeptic, calling Bitcoin "worth nothing" and "the tulip bulb of our time."
Read at 24/7 Wall St.
Unable to calculate read time
Collection
[
|
...
]