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These 218 companies are said to have no chance of survival. Burry unveils list of doomed companies

Jamie Cameron
8. 10. 2022
3 min read

Michael Burry was one of the few who predicted the 2008 crash and made an unimaginable amount of money from it. And he's convinced there's another one coming. He even posted on his Twitter account a list of companies that he thinks shouldn't make it through this situation.

Michael Burry expects to crash again

Michael Burry predicts disaster scenarios on a somewhat regular basis. Lately, however, he has been a bit more forceful in his statements. He says there is a second dot-com bubble and a large number of investors will bleed.

As is usual for an investor known for the movie"The Big Short," he expresses himself mainly through Twitter. In a tweet on Friday, he described 218 U.S. stocks with market capitalizations exceeding $1 billion and annual losses exceeding $100 million. He added that 29 of them boast a market capitalization of more than $10 billion and have a total value of $655 billion.

https://twitter.com/BurryArchive/status/1575950444098072578

The strongest message of his tweet could be interpreted as follows:

"I say it again. ALL nonsense must go."

He was alluding to his August tweet complaining that the so-called covid stupidity had returned to the markets. By which he was referring to the nonsensical behaviour of investors during the pandemic. Could he have meant that these companies, according to the numbers, should not exist at all and will be swept away by the next crash?

The complete list of Michael Burry's predictions. Has he finally lived to see his supercrash?

The head of Scion Asset Management pointed out in another tweet on Saturday that 13.48% of U.S. stocks closed above their 200-day moving average on Friday. That share was 1.2% when the market bottomed in 2009, and 2.8% in 2020.

https://twitter.com/BurryArchive/status/1576233810856857601

"It's currently at December 2007 levels," he added, indicating he expects stocks to fall significantly lower before bottoming. Burry has previously suggested that the S&P 500 index, which has already fallen about 25% this year, could fall another 48% to around 1,900 points.

A drop of another 48%?!

In a tweet on Sunday, Burry said the current market situation reminds him of the second half of the decade after 2000. He says some unpopular stocks are trading at bargain prices.

"Another feeling I have is like the mid-late 2000s," he said. "Free cash flow in a total sell-off and ignored, while former momentum stocks are falling, but not deep enough.

https://twitter.com/BurryArchive/status/1576392861011959811

Burry really hasn't been sparing the tweets lately. He accused index funds and exchange traded funds of mindlessly driving up asset prices. He also likened the market to a crowded theater and warned that many investors will be crushed as everyone rushes for the exit.

https://www.youtube.com/watch?v=wYt9CGWfXYo

"The difference between now and 2000 is the passive investing bubble that has steadily inflated over the past decade,"

"All the theaters are crowded and the only way anyone can get out is to trample each other. And yet the doors are only limited in size."

Again, Burry does not overflow with positivity. Is he right, or is he just scaremongering again?

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Disclaimer: This is in no way an investment recommendation. This is purely my summary and analysis based on data from the internet and a few other analyses. Investing in the financial markets is risky and everyone should invest based on their own decisions. I am just an amateur sharing my opinions.

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