4 ms·

While I"m sympathetic to his worries, I can't help but wonder if Michael Burry is actually just a one hit wonder. Granted, I'm not even a one hit wonder so he's

by eej71 6y ago

While I"m sympathetic to his worries, I can't help but wonder if Michael Burry is actually just a one hit wonder. Granted, I'm not even a one hit wonder so he's still one up on me. But still. I'm not sure his conclusions should be taken any more seriously than anyone else.

jamesgreenleaf 6y ago
He bought GME in 2019, and made a couple hundred million during the frenzy. https://markets.businessinsider.com/news/stocks/big-short-investor-michael-burry-scion-gamestop-stock-price-frenzy-2021-2-1030050393 https://markets.businessinsider.com/news/stocks/big-short-in...
- duxup 6y ago
  Is it smart buy if you bought something that then had a thing happen that would be hard to imagine anyone predicting?
- f154hfds 6y ago
  This is slightly outdated information, he made something like $10m from GME, selling well before the real spike started: https://www.youtube.com/watch?v=21PsGD-EDT4&t=626s https://www.youtube.com/watch?v=21PsGD-EDT4&t=626s
xyzzy4747 6y ago
He's at a minimum a two hit wonder so far: 1. Predicted housing bubble crash and shorted it 2. Publicly took a large stake in Gamestop over a year ago, putting something like 20-30% of his portfolio in it.
- internetslave 6y ago
  He also shorted Tesla
  - waheoo 6y ago
    How much did he lose? And when was this? TSLA was looking pretty sus a while back.
    - marvin 6y ago
      Shorting a company that’s «looking pretty suspect» right before it appreciates by 2200% is pertty much the definition of being very, very wrong. Burry probably didn’t do that badly, but any successful Tesla short in the last 2 years has happened at times when the company did not look particularly dangerous. Excluding the macro crash at the start of the pandemic.
waheoo 6y ago
Traders are wrong more often than they're right. Most money is earned by managing risk. Your winners win big, your losers don't break the bank. Taking anyone's conclusions seriously is pretty silly, they're all just data points.

by eej71 6y ago

jamesgreenleaf 6y ago

He bought GME in 2019, and made a couple hundred million during the frenzy. https://markets.businessinsider.com/news/stocks/big-short-investor-michael-burry-scion-gamestop-stock-price-frenzy-2021-2-1030050393 https://markets.businessinsider.com/news/stocks/big-short-in...

duxup 6y ago
Is it smart buy if you bought something that then had a thing happen that would be hard to imagine anyone predicting?
f154hfds 6y ago
This is slightly outdated information, he made something like $10m from GME, selling well before the real spike started: https://www.youtube.com/watch?v=21PsGD-EDT4&t=626s https://www.youtube.com/watch?v=21PsGD-EDT4&t=626s

xyzzy4747 6y ago

He's at a minimum a two hit wonder so far: 1. Predicted housing bubble crash and shorted it 2. Publicly took a large stake in Gamestop over a year ago, putting something like 20-30% of his portfolio in it.

internetslave 6y ago
He also shorted Tesla
- waheoo 6y ago
  How much did he lose? And when was this? TSLA was looking pretty sus a while back.
  - marvin 6y ago
    Shorting a company that’s «looking pretty suspect» right before it appreciates by 2200% is pertty much the definition of being very, very wrong. Burry probably didn’t do that badly, but any successful Tesla short in the last 2 years has happened at times when the company did not look particularly dangerous. Excluding the macro crash at the start of the pandemic.

waheoo 6y ago

Traders are wrong more often than they're right. Most money is earned by managing risk. Your winners win big, your losers don't break the bank. Taking anyone's conclusions seriously is pretty silly, they're all just data points.