Highlights

  • Burry says 2022 is like watching a plane crash
  • S&P 500 in a bear market, down 20% from top
  • US inflation at 40 year high

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Investor who called the 2008 crash says 2022 is a 'plane crash'

Burry's bet against the housing market before the 2008 financial crisis was immortalized in Michael Lewis’s book “The Big Short"

The bear attack has gripped Wall Street but this is not the end, famed 2008 crash caller Michael Burry issued a dire warning to his Twitter followers. :As I said about 2008, it is like watching a plane crash. It hurts, it is not fun, and I’m not smiling."— Cassandra B.C. (@michaeljburry) May 24, 2022

Burry's financial crisis call was immortalized in Michael Lewis’s book “The Big Short” raised the red flag to retail traders about a year ago that the “mother of all crashes” was coming.

Burry, who as a habit deletes his tweets shot warns investor as S&P 500 has posted seven straight weekly declines, the worst losing streak since 2001. And recent data is making matters worse. New home sales data tumbled over 16% in April while prices soared.

US is facing its worst inflation in 40 years along with the rest of the world and central banks are coming out guns blazing with rate hikes to attack it.

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