Burry first cautioned that US stocks were heading toward “the mother of all crashes” in June 2021.
At the time, he cited irrational “fear of missing out” trading activity related to cryptocurrencies and meme stocks as a sign of the volatility.
“All hype/speculation is doing is drawing in retail before the mother of all crashes,” Burry tweeted. “When crypto falls from trillions, or meme stocks fall from tens of billions, #MainStreet losses will approach the size of countries.” The hedge fund wizard followed up on that prediction in a tweet last week while sharing a chart showing the S&P 500’s decline so far this year.
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