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Michael Burry, the investor renowned for forecasting the housing market crash of 2008, has made another precarious bet, this time on a stock market crash. Burry, the founder of Scion Asset Management, has risked $1.6 billion of the fund's assets in his most recent investment. CNN reports that this bet represents over 90% of his portfolio.
Investment headlines have rapidly reported on Burry's recent move, with some asserting that he has wagered $1.6 billion on a stock market crash. Nevertheless, it is noteworthy that Burry has not explicitly declared that he is betting on a market crash. He has made several investments indicating his readiness for a market downturn.
Though Burry's intentions remain uncertain, his reputation as a successful investor has piqued the interest of many. His present position is being compared to his famous bet against the housing market, which earned him millions of dollars and was later immortalized in the book and movie "The Big Short".
The outcome of Burry's latest bet is yet to be determined, but it's certain that he is once again causing a stir within the investment world. As usual, investors must be careful and conduct independent research before making any investment decisions.