Source: Wall Street News
Author: Gao Zhimou
On May 24, Michael Burry, the prototype of the movie “The Big Short” and the founder of Scion Asset Management, who made a lot of money by shorting subprime mortgages during the 2008 subprime mortgage crisis, posted on Twitter, mentioning that he was in 2008. Feelings on the eve of the financial tsunami:
“As I said in 2008, (now) it’s like watching a plane crash. It’s painful, it’s not fun, and I’m not laughing.”
However, Burry did not explain further, and the tweet has now been deleted. It is worth mentioning that Burry also posted a year ago that the “mother of all crashes” is coming, and he also did not give a clear explanation at that time.
When the “big bear” posted the tweet, the S&P 500 index in the United States retreated from its highs and fell for seven consecutive weeks, the first time since 2001; The Nasdaq ended down more than 2 percent to an 18-month low. According to Wall Street’s news, many investors believe that Snap Waterloo is just the beginning, and the entire digital advertising industry and even the Internet sector may face the storm.
In addition, the National Association of Realtors also showed that sales of new U.S. homes plummeted in April, and high house prices and sharply rising mortgages appear to be “cooling down” the U.S. real estate market, which has been on fire for two years.
At a time when the Federal Reserve is raising interest rates, U.S. stocks are “overcast” and the market is worried that a U.S. recession is looming, any hint of a slowdown in the economy will spook investors. Therefore, the re-voicing of the “big short” quickly triggered a heated discussion among investors on whether Burry was bearish on the capital market again. Some netizens asked Burry that:
““The housing market was in charge in 2008 but what will be the culprit in 2022? ? ? “”
Burry didn’t reply. However, most netizens answered the question quite negatively. One of the comments reads as follows:
“Much money oversupply has created bubbles in every asset. 2008 is nothing compared to what’s to come. A house that was supposed to sell for 500,000 is now selling for 2.2 million is crazy. As a kind of currency, the dollar has been destroyed,”
Another user sent soul torture:
“Is everything a bubble? Or are Western currencies overvalued?”
Of course, most of the time there are always two voices in the market. There are also “optimist” netizens who said:
“Stop comparing to 2008, the mood in today’s world could change in the blink of an eye.”
edit/ping
This article is reprinted from: https://news.futunn.com/post/15866651?src=3&report_type=market&report_id=206604&futusource=news_headline_list
This site is for inclusion only, and the copyright belongs to the original author.