Michael Burry tweeted out a piece of investing advice consisting of just one word, a day before the Federal Reserve's market-moving interest rate decision.
"Sell," Burry said in a Twitter post to his 1.3 million followers Tuesday evening, which garnered more than 40,000 likes in hours. Burry, who runs a hedge fund at Scion Asset Management, has been negative about the markets throughout the last one year. The famed investor, known for calling the subprime mortgage crisis, has drawn parallels between today's market environment and that of 2008, saying it's like "watching a plane crash.
2% in January, notching its best start of the year since 2019. The tech-heavy Nasdaq Composite jumped 10.7% last month for its best monthly performance since July. The Fed is expected to raise interest rates by a quarter point Wednesday, its smallest increase since it began hiking rates last March. But investors are hoping the central bank will signal a pause in its tightening campaign.
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