Michael Burry, the hedge-fund manager at Scion Asset Management made famous by Michael Lewis's book "the Big Short," said in a Thursday tweet that...
Michael Burry, the hedge-fund manager at Scion Asset Management made famous by Michael Lewis’s book “the Big Short,” said in a Thursday tweet that he was “wrong” to tell investors to sell stocks two months ago.
Burry issued a one-word tweet on Jan. 31 advising his followers to “sell.” While he didn’t elaborate, MarketWatch’s Steve Goldstein noted at the time that it wasn’t hard to fill in the blanks. On Feb. 2, a few days after Burry’s “sell” tweet, the S&P 500 index closed at 4,179.76 after the Fed delivered a 25 basis point interest rate hike. That proved to be the large-cap index’s highest close of 2023, as several weeks of declines followed. The index has fallen roughly 3% since that day, according to FactSet data.
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