'Big Short' investor Michael Burry says the stock market is 'dancing on a knife's edge' - and fears he's being ignored again
Michael Burrysounded the alarm on the stock market over the weekend.
- The "Big Short" investor said extreme speculation and debt could cause a crash.
- Burry said his warnings were being ignored as they were during the housing bubble.
- Visit Business Insider's homepage for more stories.
Rampant speculation and widespread betting with borrowed money have driven the stock market to the brink of collapse, Michael Burry said over the weekend.
"Speculative stock #bubbles ultimately see the gamblers take on too much debt," the investor tweeted along with a chart showing the S&P 500 index and levels of margin debt both soaring in recent months."The market is dancing on a knife's edge," Burry added.
"Passive investing's IQ drain, and #stonksgoup hype, add to the danger," he said.In another tweet, the
Burry is best known for his billion-dollar bet on a crash in the US housing market in the mid-2000s, immortalized in "
"People say I didn't warn last time," he said. "I did, but no one listened. So I warn this time. And still, no one listens. But I will have proof I warned."
Burry doubled down on his view by adding that quote to his Twitter bio. His display name is Cassandra, a reference to the priestess from Greek mythology who was cursed to share true prophecies but never to be believed.Read more: Bank of America says buy these 14 cheap stocks that are best positioned to soar on the strongest economic comeback in nearly 40 years
- Wholesale growth expected to continue for tractors, passenger vehicles and two-wheelers, says equity research firm Emkay
- Centre finalises One District One Focus Product to promote in cluster approach
- A Mumbai-based EV startup launched the cheapest electric car with a 200 km range
- HP's worldwide shipments grow 5.6% in fourth quarter of 2020, says IDC
- NITI Aayog proposes price of COVID-19 between ₹300-500