Photo by Kevin Mazur/WireImageMichael Burry recently compared the current market downturn to an aviation disaster, and said it reminded him of the collapse of the mid-2000s housing bubble.
"As I said about 2008, it is like watching a plane crash," the investor wrote in a since-deleted tweet on May 24. "It hurts, it is not fun, and I'm not smiling."
The Scion Asset Management chief warned that based on historic market slumps, the S&P 500 index could lose half its value and sink below 1,900. He also suggested it could be several years until Amazon, Microsoft, and other high-flying stocks record their bottom tick, as they did in 2002 and 2009.
Burry, who shot to fame for anticipating and profiting from the 2008 crash, diagnosed the "greatest speculative bubble of all time in all things" last summer, and warned buyers of meme stocks and cryptocurrencies that the "mother of all crashes" was coming.