'Big Short' investor Michael Burry trumpets his successful market predictions — and deletes his Twitter profile again
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- Michael Burry touted his successful predictions about market events over the past two decades.
- "The Big Short" investor warned he doesn't know what the next six months will bring.
- The Scion Asset Management boss deactivated his Twitter profile once again.
Michael Burry trumpeted his track record of predicting and profiting from market events in a Monday tweet, then promptly deleted his Twitter profile once again.
"Just getting one thing right is hard," he tweeted. "1999 tech bubble, 01-05 value revival, 2005 housing bubble, 2009 almond farms, 2020 COVID bottom, 2020 lockdown horrors, 2021 meme stocks, 2021 crypto leverage, 2021 inflation, 2022 not done yet, late 2022 ????"
Burry's tweet highlighted the key calls he's made over the past two decades, including his billion-dollar bet on the US housing market's collapse, which was chronicled in the book and the movie "The Big Short." The investor also flagged the risk of inflation — which spiked to a 41-year high of 8.6% last month — as early as April 2020.
Moreover, Burry's Scion Asset Management went on a buying spree in the second quarter of 2020, meaning it likely benefited from the stock-market rally that followed the pandemic crash earlier that year.
Burry also sounded the alarm on a sprawling bubble in asset prices last year, and warned buyers of meme stocks and cryptocurrencies they were headed for a devastating sell-off . Now, the S&P 500 and Nasdaq indexes are down 22% and 32% respectively this year, while many meme stocks and cryptos have more than halved in price.
Burry's latest tweet could be dismissed as a gloating victory lap, as he first underlines how tricky it is to anticipate and benefit from market movements, then reels off a list of times when he's done just that. However, he notes that he has no idea what the next six months will bring, suggesting the current market backdrop is so extraordinary that even he can't divine what's coming.
The Scion chief has deleted and reactivated his Twitter profile several times during the pandemic. He has previously explained that he deletes his tweets, and restricts access to his account, to prevent bots and promoters from hyping meme stocks and cryptocurrencies in replies to his posts.
Burry has a penchant for quitting Twitter after making particularly dire predictions, suggesting it's a way to add dramatic flair to his warnings. The investor has also taken down his profile after attracting too much attention, including when Tesla CEO Elon Musk labeled him a "broken clock" last year.
Read more: Insider recently interviewed the CEOs of 5 Berkshire Hathaway businesses: See's Candies, Dairy Queen, Borsheims, Cort, and Brooks Running. They offered a rare glimpse inside Warren Buffett's company, and shared how they're dealing with the pandemic and inflation.
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