The Bad PlaceTimes of India | Michael Burry, who predicted US housing crash of 2008, warns investors: Stocks are not up or down because of jobs or consumer sentiment, they are straight up as ...
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Michael Burry, the investor famous for predicting the 2008 US housing crash, has warned that the market’s current obsession with artificial intelligence is driving stocks higher without regard to fundamentals such as jobs or consumer sentiment. In a Substack post, Burry noted that the S&P 500’s recent record highs were fueled by AI hype rather than economic data, likening the surge in the Philadelphia Semiconductor Index to the pre‑dot‑com bubble rally of 1999‑2000. He cautioned that tech giants are pouring trillions into AI infrastructure that may quickly become obsolete, with no clear path to real‑economy returns, and warned that this unchecked spending could lead to a significant correction. Fellow investor Paul Tudor Jones echoed these concerns, suggesting that valuations are inflating to unsustainable levels and that a later “breathtaking” correction could follow.
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Michael Burry, who predicted US housing crash of 2008, warns investors: Stocks are not up or down because of jobs or consumer sentiment, they are straight up as ... - The Times of India
Tech News News: America’s biggest investor Michael Burry who is known for predicting the 2008 US housing crash and portrayed in The Big Short, has now issued a warnin.