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Michael Burry dumped almost all his stocks since he to overheated market

Michael Burry dumped almost all his stocks since he to overheated market

The well-known investor who predicted the 2008 mortgage crisis in the U.S., leading to a global economic recession, has sold almost all of his stock portfolio. He believes the stock market is way overheated and is going towards a massive collapse.

The prototype character of The Big Short movie has sold off almost his entire portfolio, reducing its value from $2 billion in the second quarter to $41 million by now. He has only six companies left in his assets: CVS Health (which owns the U.S. retail drugstore chain) 40.68%, Lockheed Martin (a U.S. military-industrial company) 24.82%, GEO Group (a real estate fund that runs mental hospitals and prisons) 20.75%, CoreCivic 8.79%, NOW 2.75%, Scynexis 2.21%.

Michael Burry had previously tweeted warnings about the risks of the market overheating with money: “All hype/speculation is doing is drawing in retail before the mother of all crashes.” Somewhat later, the tweet was deleted. However, it is quite typical for the investor to delete his posts constantly.

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