BlockBeats News, November 3rd, Michael Burry, the real-life inspiration behind the movie “The Big Short,” issued another warning: “Sometimes we see bubbles; the only winning move is not to play.” The hedge fund manager who accurately predicted the subprime mortgage crisis in 2000 liquidated nearly all of his US stock holdings this quarter, holding only Estee Lauder shares and purchasing Nvidia put options, causing a market shock.
Nvidia just surpassed a $500 billion market cap, accounting for nearly 10% of the S&P 500, reigniting bubble concerns. Burry’s statement may indicate rising short-term risks of a tech stock and AI sector pullback. BiyaPay analysts believe that in the face of intense volatility, maintaining a strategy is more important than chasing highs and selling lows.
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