Michael Burry, the hedge fund investor who famously shorted mortgage-backed securities in the 2008 financial crisis as the market hit its peak, has a new target: AI bubble.
Burry, whose story was featured in ‘The Big Short,” has launched a newsletter called “Cassandra Unchained” on Substack. In Greek mythology, Cassandra had the gift of prophecy but no one would believe her. Over time, the name Cassandra has come to refer to folks who can predict coming disasters but were dismissed as alarmists.
Burry’s first article is titled, “The Cardinal Sign of a Bubble: Supply-side Gluttony.” According to CNBC, Burry looked to the parallels between the dotcom boom of the late 1990s and the AI gold rush today. Back then, he shorted Amazon at the height of the boom. Today, he is bearish on Nvidia, the darling stock of the AI boom.
His newsletter has a free version with limited access and a paid version at $39 a month or $379 a year.