‘The Big Short’ Investor Michael Burry Says He Was “Wrong to Say Sell”

Joshua Ramos
Michael Burry
Source: Investopedia

Taking to Twitter, one of the most well-known names in finance has spoken about where he may have been wrong. Specifically, Michael Burry stated that he was “wrong to say sell,” referencing a Tweet earlier this year with a singular statement: “Sell”.

Burry is well-known for being the inspiration behind the 2015 comedy-drama, “The Big Short”, which covers his place in the financial crisis of 2008. Subsequently, Burry rescinded his previous statement with another tweet.

Burry Takes it Back

The current economic status of the country is undoubtedly in a state of fragility. Not only has the country been engaged in a year-long fight against rising inflation rates, but a budding banking crisis has brought on newfound panic. Now, the man closely connected with the financial crisis of 2008 has spoken in reference to his previous proclamation.

Specifically, Michael Burry has said that he was “wrong to say sell,” in a recent tweet. Moreover, this recent declaration is likely connected to a statement made by Burry in February. There, he remarked on the market with one singular message on Twitter, “Sell”.

Christian Bale as Michael Burry in “The Big Short”

Burry’s connection to the 2008 financial crisis was the inspiration behind the 2015 comedy-drama, “The Big Short,” which starred Hollywood heavy hitters like Christian Bale and Brad Pitt. Subsequently, Bale played Burry, as the film identified him as one of the first to uncover the housing market bubble.

Conversely, to start 2023, Burry raised doubts about the stock market’s actions and urged investors to sell. Moreover, his statement came as Business Insider reported the benchmark S&P 500 index gained 6.2% in January. Additionally, the Nasdaq Composite saw an 11% surge in the same month, its best since 2001.

Now, Burry has confronted that prognosis, and stated that “he was wrong to say sell.” Nevertheless, it feels like a lot has changed since January. The nation’s financial sector is in a compromised state, with its banking sector in shambles. Yet, it will be interesting to see where Burry’s perspective shifts next.