When people stop owning tech stocks, cryptocurrencies, and NFTs, the market will end.
The investor of "The Big Short" predicted consumer spending would fall and retailers would have excess inventory during the Christmas period. He didn't think the recent rebound in stocks was a good thing. He made a number of comments in recent days, but they have been deleted.
The collapse of the housing bubble led to the creation of the meme-stock boom, and Burry inadvertently paved the way by investing in GameStop.
Tom Siebel, a software billionaire and the CEO of C3.ai, said during a recent interview that he doesn't think this will be over until everyone swears they won't own an NFT.
The bottom of previous market downturns was marked by investor apathy. He said that such was the sign in 2002.
During the dot-com bubble, Siebel Systems' stock chart showed a huge increase in value, but it lost all of its value by the second half of 2002.
The New York Times article from 1974 highlighted the lack of sympathy felt by Americans for Wall Street.
asset prices might not reach a nadir until next year according to the hedge-fund manager.
He said that the theater took a long time to overstuff. It's not likely that everyone gets out in a year.
A bleak holiday prediction was issued by Burry.
He asked what brings a Christmas in July in 2022. At Christmas, there was a consumer recession.
A drop in consumer spending and a combination of weaker demand and retailers' bloated inventories are expected to drag down economic growth.
US households are on track to exhaust most of their savings by the fourth quarter of this year due to soaring food, fuel, and housing costs, according to a previous warning by Burry.
Shrinking personal savings, a declining savings rate, and ballooning credit-card debt are all indicators of a consumer recession.
During previous market downturns, investors were warned not to get overly excited about stock rallies.
This year was so enjoyable because of all the doomed rallies. There is a person named burry who writes on the internet. There were 16 rallies in 2000 and 2002.
Based on the benchmark index's performance in previous bear markets, the S&P 500 could plummet from its current level.
Value investors missed out on huge gains because they dismissed the likes of Amazon and Alphabet as overpriced. Adam Seessel is a fund manager and writer.
All Rights Reserved © 2024
