Big Short Investor Michael Burry Says "Market Silliness is Back'

Famed 'Big Short' investor Michael Burry took to Twitter Thursday, cautioning followers that the 'silliness is back' in markets.

Burry, who founded Scion Asset Management, and is well known for betting against the US housing market before the 2008 crash, has warned of an impending crash over the last few months, with tweets usually deleted not long after being posted.

In his latest tweet, Burry stated the "familiar COVID-era Silliness is not dead yet."

"The Silliness is back. After 1929, after 1968, after 2000, after 2008, the strain of Silliness that transformed bulls into bubbles completely and utterly disappeared. But that familiar COVID-era Silliness is not dead yet. Like 2001 before Enron, before 9/11, before WorldCom," wrote Burry.

Despite markets tumbling in the first half of the year, with the S&P 500 recording its worst first half since 1970, they have rallied since mid-June.

By Sam Boughedda

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