Burry’s $1.6B Bet Signals Looming Stock Crash

Michael Burry Places $1.6 Billion Bet on Potential Wall Street Crash

According to filings with the SEC, Michael Burry’s firm, Scion Asset Management, has invested over $1.6 billion in put options against the S&P 500 and Nasdaq 100. Burry has allocated more than 90% of his portfolio to these bearish bets, indicating his strong belief in a market downturn. This move is reminiscent of his previous success in predicting the 2008 housing market crash, where he profited enormously from his bet against the subprime lending crisis.