By Sam Boughedda
Hedge fund manager and founder of Scion Asset Management, Michael Burry, said in a tweet on Thursday that he was “wrong” to tell investors to sell.
The “Big Short” investor said “sell” on January 31 in a one-word tweet, and while there were no other details provided, it seemed to be a clear indication of his market view.
While U.S. equities fell a few days after in February, March saw sentiment change once again, with stocks remaining resilient despite significant uncertainty in the banking industry following the collapse of SVB.
Burry, who predicted the 2008 housing crisis, had been calling for a market crash for a while, tweeting in November last year that “we are really looking at an extended multi-year recession.”
However, in a second tweet on Thursday, he wrote: “Going back to the 1920s, there has been no BTFD generation like you. Congratulations.”