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Comment by eej71 | Hacker News Reader

While I"m sympathetic to his worries, I can't help but wonder if Michael Burry is actually just a one hit wonder. Granted, I'm not even a one hit wonder so he's still one up on me. But still. I'm not sure his conclusions should be taken any more seriously than anyone else.

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He's at a minimum a two hit wonder so far:

1. Predicted housing bubble crash and shorted it

2. Publicly took a large stake in Gamestop over a year ago, putting something like 20-30% of his portfolio in it.

He also shorted Tesla

How much did he lose? And when was this? TSLA was looking pretty sus a while back.

Shorting a company that’s «looking pretty suspect» right before it appreciates by 2200% is pertty much the definition of being very, very wrong.

Burry probably didn’t do that badly, but any successful Tesla short in the last 2 years has happened at times when the company did not look particularly dangerous. Excluding the macro crash at the start of the pandemic.

He bought GME in 2019, and made a couple hundred million during the frenzy.

https://markets.businessinsider.com/news/stocks/big-short-in...

This is slightly outdated information, he made something like $10m from GME, selling well before the real spike started: https://www.youtube.com/watch?v=21PsGD-EDT4&t=626s

Is it smart buy if you bought something that then had a thing happen that would be hard to imagine anyone predicting?

Traders are wrong more often than they're right.

Most money is earned by managing risk. Your winners win big, your losers don't break the bank.

Taking anyone's conclusions seriously is pretty silly, they're all just data points.

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