Michael Burry Of "The Big Short" Fame Just Shorted The Stock Market To The Tune of $1.6 BILLION

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I love "The Big Short". I don't care if it's a Hollywood over-simplification or whatever cynics say, it's an awesome movie and it explains a complex situation (the worldwide economic collapse) in a way a simpleton like me or your mom could understand. 

So if the name "Michael Burry" rings a bell it's because he's the character Christian Bale plays in the movie, who makes his clients and himself hundreds of millions of dollars when the housing market collapsed. However, if you've followed him since the movie, he's struck out more often than not. Obviously he's way smarter than I could ever be- shit, I bought SAFEMOON. But that's neither here nor there. The point is Burry is clearly a brilliant dude who today took another grand slam swing, shorting the stock market to the tune of $1.6 billion:

Examiner - Investor Michael Burry has taken a huge short against the U.S. stock market, to the tune of more than $1.6 billion.

Burry, who predicted the subprime mortgage crisis of the 2000s, bought nearly $890 million in puts against the SPDR S&P 500 ETF, which tracks the overall stock market. Through his hedge fund Scion Asset Management, he also bought some $740 million in puts against an ETF that tracks the Nasdaq’s 100 largest nonfinance companies — essentially, a short against the tech sector.

The massive short positions were revealed on Monday in a filing with the Securities and Exchange Commission. More than 93% of Burry’s entire portfolio is betting against the stock market, and in essence, the health of the economy.

Not great! Well, if he's right, that is. Very not great for me considering I have most of my money in tech stocks like Apple, Amazon, Shopify, and Microsoft. If Burry is correct and the tech market is about to explode, I will be picking up a side job.

From reading a little bit, people aren't convinced Burry is right about this. I mostly just find it interesting but it won't change my life one bit. One of my biggest life regrets was not buying more aggressively when the entire market tanked because of COVID in 2020, so I wouldn't hate another chance at that! Optimistic way of looking at the market collapse, I suppose. Should be interesting to follow.