What comes as a surprise to many, prominent analyst and investor Michael Burry posted a tweet on Thursday morning that he was “wrong to say sell”. Earlier, Burry forecasted that another economic crisis similar to the one that occurred in 2008 will completely flip the markets across all sectors. Burry was one of the few individuals who correctly anticipated the housing and subprime mortgage catastrophe that occurred in late 2008.
Michael Burry Hints Market Rally?
Market participants are of the opinion that Burry’s latest tweet is supposedly a hint toward market upswing as he has publicly acknowledged getting it wrong this time. During the market meltdown in September 2022, the critically acclaimed investor tweeted to his 1.4 million followers to “sell” their holdings.
Furthermore, Burry argues that high levels of dip purchasing have changed the current market landscape, as 2023 is reportedly shaping up to be one of the best years for dip-buying strategy.
Going back to the 1920s, there has been no BTFD generation like you. Congratulations. pic.twitter.com/iAGN0CqmjD
— Cassandra B.C. (@michaeljburry) March 30, 2023
This is a developing story and is being frequently updated.
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