The “Big Short” hedge fund boss had urged investors to dump stocks in late January.
The rally occurred even as turmoil at mid-sized banks following the collapses of Silicon Valley Bank and Signature Bank of New York, as well as uncertainty about the Federal Reserve’s policy path, fueled anxiety among traders.
Through Friday, the broad-based S&P 500 is up nearly 6% since January and was trending toward its best weekly performance in two months, according to Bloomberg. Elsewhere, the Dow Jones Industrial Average is down by less than 1%.He is known for frequently posting — and then deleting — his views on the market to his Twitter account, where he has amassed more than one million followers.
Burry was sharply critical of Silicon Valley Bank executives earlier this month when the lender’s failure prompted fears of systemic banking sector meltdown.. “People full of hubris and greed take stupid risks, and fail. Money is then printed. Because it works so well.”
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