{"id":19410,"date":"2023-04-02T18:26:52","date_gmt":"2023-04-02T18:26:52","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/big-short-investor-michael-burry-says-he-was-wrong-to-advise-selling-congratulates-btfd-generation-economics-bitcoin-news\/"},"modified":"2023-04-02T18:26:52","modified_gmt":"2023-04-02T18:26:52","slug":"big-short-investor-michael-burry-says-he-was-wrong-to-advise-selling-congratulates-btfd-generation-economics-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/big-short-investor-michael-burry-says-he-was-wrong-to-advise-selling-congratulates-btfd-generation-economics-bitcoin-news\/","title":{"rendered":"‘Big Short’ Investor Michael Burry Says He Was Wrong to Advise Selling; Congratulates ‘BTFD Generation’ \u2013 Economics Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Famed \u201cBig Short\u201d investor Michael Burry tweeted Thursday, telling his 1.4 million followers, \u201cI was wrong to say sell.\u201d The tweet follows Burry\u2019s warning for months that the U.S. was headed for an \u201cextended multi-year recession\u201d and his decision to dump all of his stocks but one in August 2022.<\/strong><\/p>\n

Burry: \u2018I Was Wrong to Say Sell\u2019<\/h2>\n

Michael Burry<\/a>, known as \u201cCassandra B.C.\u201d on Twitter, is well-known for his predictions. He famously predicted and profited from the subprime mortgage crisis of 2007-2008. Burry\u2019s unconventional investment strategies led to fame when Michael Lewis chronicled Burry\u2019s forecasting of the 2008 financial crisis in his book and movie, \u201cThe Big Short.\u201d In more recent times, Burry has been bearish again, predicting<\/a> in December that the U.S. economy would falter into an \u201cextended multi-year recession.\u201d<\/p>\n

In May 2022, Burry warned<\/a> that the U.S. could see a \u201cconsumer recession,\u201d and in August, his firm Scion Asset Management sold all of its stocks<\/a> except one. Scion sold long positions in companies such as Meta, Cigna Corp., Alphabet (Google), Bristol-Myers Squibb, and others. In January, Burry stated<\/a> that he expected the U.S. to be in a recession \u201cby any definition,\u201d and in March, he compared<\/a> the U.S. banking turmoil to the Panic of 1907. However, in his latest tweets on March 30, the renowned investor seems to be telling a different story.<\/p>\n

\u201cI was wrong to say sell,\u201d Burry tweeted<\/a>. \u201cGoing back to the 1920s, there has been no BTFD generation like you. Congratulations,\u201d the investor added in another tweet<\/a>.<\/p>\n

Moreover, Burry\u2019s tweets before March 30, 2023, have been erased as the legendary financier<\/span> has been accused<\/a> of deleting tweets<\/a> or resetting his Twitter account on several occasions. There is even a Twitter account called @mikeburrysaved<\/a> that shares Burry\u2019s deleted tweets, and there are many archives<\/a> covering his tweets and Twitter feed from the past few years<\/a>. There have been several responses to Burry\u2019s latest statements on March 30. \u201cYou gotta be kidding me,\u201d one individual tweeted<\/a> in response to Burry\u2019s sell comment.<\/p>\n

In response to Burry\u2019s \u201cBTFD generation\u201d comment, one individual said<\/a>, \u201cthe dollar is worthless. What do [you] expect people to do?\u201d Another person wrote<\/a> to Burry, \u201cThere may also be no generation like this one that feels the pain on the way down in the same way.\u201d The investor is not the only well-known entrepreneur predicting an economic downturn. Economist Peter Schiff<\/a> and Robert Kiyosaki, the famous author of the best-selling book \u201cRich Dad Poor Dad,\u201d are also predicting<\/a> economic calamity.<\/p>\n

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Archives<\/a>, Bearish<\/a>, big short<\/a>, big short investor<\/a>, BTFD generation<\/a>, consumer recession<\/a>, credit card debt<\/a>, Deleted Tweets<\/a>, Depression<\/a>, Dollar<\/a>, earnings<\/a>, Economic Downturn<\/a>, famous entrepreneur<\/a>, inflation<\/a>, Investor<\/a>, michael burry<\/a>, michael burry inflation<\/a>, Michael Burry recession<\/a>, multi-year recession<\/a>, pain<\/a>, Panic of 1907<\/a>, personal savings<\/a>, Peter Schiff<\/a>, prediction<\/a>, Recession<\/a>, response<\/a>, robert kiyosaki<\/a>, Scion Asset Management<\/a>, Sell Off<\/a>, Stock Market<\/a>, subprime mortgage crisis<\/a>, The Big Short<\/a>, Twitter<\/a>, twitter account<\/a>, US economy<\/a>, worthlessness<\/a><\/div>\n<\/div>\n

Do you think Michael Burry\u2019s latest tweets signal a shift in his outlook for the economy, or is he simply acknowledging the resilience of the \u201cBTFD generation\u201d? Share your thoughts in the comments section below.<\/strong><\/em><\/p>\n

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\nJamie Redman <\/h6>\n

\nJamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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