'Big Short' Michael Burry admits he was 'wrong to say sell' after the Nasdaq 100 entered a bull market
Michael Burry — who issued a dire warning to investors by simply tweeting the word "Sell" in January — just admitted he was wrong.
The "Big Short" investor, who is the founder of Scion Asset Management, spooked the market with his one-word tweet on January 31. At the time, it was read as a signal to investors that they shouldn't be fooled by a rebound in stocks and should not buy into the market gains.
But Burry walked that statement back, tweeting Thursday that he "was wrong to say sell." The tweet had been viewed 6.7 million times since it was posted.
The "Big Short" investor, who is the founder of Scion Asset Management, spooked the market with his one-word tweet on January 31. At the time, it was read as a signal to investors that they shouldn't be fooled by a rebound in stocks and should not buy into the market gains.
But Burry walked that statement back, tweeting Thursday that he "was wrong to say sell." The tweet had been viewed 6.7 million times since it was posted.
He even congratulated investors who managed to snap up some stocks during the market dip.
"Going back to the 1920s, there has been no BTFD generation like you. Congratulations," he tweeted on Thursday, referring to the phrase "buy the f****** dip."
It's unclear if Burry was being sarcastic in his latest tweets. The investor has repeatedly sounded the alarm on euphoria in markets, and warned buyers of meme stocks and cryptocurrencies they faced the "mother of all crashes."
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Macdonell J : He didn't mean that he was about his prediction. He didn't expect the Fed has reactivated the QE so abruptly to rescue the banking crisis.
RDK79 : Bet he made money though