worldnews

4836 readers

1 users here now

Rules:

Be civil. Disagreements happen, that does not give you the right to personally insult each other.
No racism or bigotry.
Posts from sources that aren't known to be incredibly biased for either side of the spectrum are preferred. If this is not an option, you may post from whatever source you have as long as it is relevant to this community.
Post titles should be the same as the article title.
No spam, self-promotion, or trolling.

Instance-wide rules always apply.

founded 1 year ago

MODERATORS

submitted 1 year ago by Tazmanian@lemmy.world to c/worldnews@lemmy.world

22 comments fedilink hide all child comments

Michael Burry, who founded Scion Asset Management, appears to have placed a large proportion of the fund's assets at risk.

you are viewing a single comment's thread
view the rest of the comments

[–] Illogicalbit@lemmy.world 7 points 1 year ago

Here's the list:

In December 2015, he predicted a stock market crash in the following months, but the S&P 500 saw an 11% gain in the subsequent 12 months.
In May 2017, he predicted a new financial collapse, yet the S&P 500 recorded a 19% increase in the following 12 months.
In September 2019, he forecasted a stock market crash due to an "indexed ETF bubble," but the S&P 500 gained 15% in the next 12 months.
In March 2020, he perpetually held a bearish view, but the S&P 500 surged by 72%.
In February 2021, he predicted significant stock market declines due to a speculative bubble, yet the S&P 500 increased by 16% in the subsequent months.
In September 2022, he forecasted further failures and that the lows hadn't been touched, but the S&P 500 performed positively with a 21% gain.
In January of this year, he foresaw a recession and a new cycle of inflation, yet the S&P 500 achieved remarkable positive performance.

Not saying he’s wrong, just was curious on his track record.