Investor Forecasting Housing Crisis Bets Against Stock Market

Investor Michael Burry, known for his successful prediction of the subprime mortgage crisis in the 2000s, has recently taken a massive short position against the U.S. stock market. Through his hedge fund Scion Asset Management, Burry has purchased over $1.6 billion in put options against the overall stock market and the tech sector. This move has attracted significant attention from investors due to Burry’s past success. With over 93% of his entire portfolio betting against the market, Burry’s new short positions have raised concerns about a potential recession and economic downturn.