Burry Likened 2023 to 2000 and 2008

Legendary investor Michael Burry, portrayed in the movie “The Big Short”, warned that the 2023 market reflects dot-com and housing collapses.

Famed investor Michael Burry, who predicted the 2008 crisis, claimed that “people with inflated egos and lust for profit throughout history have taken silly risks” and this has “resulted in disaster”. Burry cited the dot-com bubble of 2000, the housing crisis of 2008, and the current situation in 2023 as examples. The famous investor, in his deleted tweets, warned about the current state of the financial world, while criticizing the executives of Silicon Valley Bank (SBV) for their “recklessness”.

Burry also stated that governments often resort to printing more money in the face of economic crises, and he believes this tactic has been overused because it “works”. As concerns about the global economy and financial markets increase, Burry reminded that acting irresponsibly can result in disaster. The successful stockbroker also drew comparisons between the SVB and energy trading giant Enron, which went bankrupt in 2001 due to accounting corruption. In his warnings, Burry highlighted the need for greater openness and accountability in the financial sector.