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hello everybody welcome back to the contrarian i have some exciting news i want to update you on you probably have already heard the news but apparently michael bury is back on twitter after around a 10-week sabbatical leave for him and i was expecting to have kind of a restful evening i was just sitting down in my lazy boy chair and i took a look at the news and all of a sudden michael berry is trending and i thought to myself you know what has this guy said next to get trending and actually he is back on twitter so that's an exciting announcement and there's a lot that he has already said so i'll just go through a couple of his most uh notable tweets actually one in particular that i think really does pertain most to the market um let me try to find it real quick here he he says uh people always ask me what is going on in the markets it is simple greatest speculative bubble of all time in all things by two orders of magnitude hashtag flying pigs 360.
so this is quite the tweet from burry and um yeah i'll definitely give my thoughts on this this is just very crystal clear in terms of what he's thinking what his current uh mentality is on the stock market on markets in general but um yeah basically i i wouldn't want to bet against bury he hasn't really been wrong before he's been wrong with timing he's been very early on things but he has never been completely wrong entirely on a position before that he's had so i just put a lot of um credibility to his background because that he seems to be very good at analyzing the markets analyzing the various complicated factors that go into making these kinds of forecasts and making these kinds of claims and i just definitely would not want to bet against him but the this is just a very uh straightforward thing that he's saying that we're in the biggest in the greatest speculative bubble of all time in all things by two orders of magnitude so by a hundred times apparently i don't know if i would quite agree with that claim but it's definitely getting up there and looking at other people who i put a lot of credibility behind such as jeremy grantham a person who's had much more experience than bury who also would probably agree with bury on this claim um but yeah i would just say that he's uh he's said this kind of thing before he you know even before he uh was ever really trending in the news lately uh even just as recent as or as long ago as two years ago he was saying that uh passive investing is in a bubble and i have made a couple of videos recently covering that and just how the nature of passive investing is not actually passive especially when it's done at the order at which is currently being done and bury of course pointed that out two years ago at this point um so it's really nothing new this should not come as much of a surprise to anybody who's really been following him very closely but yeah i think just looking around ourselves you know looking at bitcoin looking at tesla looking at all these other meme stocks amc gamestop all these other bankrupt companies and whatever it's not hard to see this kind of extreme speculation that brewery is referring to um there's classic examples of that such as tesla which brewery is short right now and bitcoin that's you know both of these are somewhat debatable there's people who claim that tesla is going to be the biggest company in you know 10 years from now and those who claim that bitcoin is going to replace all the fiat currencies and therefore you know it's going to at least 12 million dollars per bitcoin or whatever but you know i personally i'm not going to give any sort of advice about this but i just really would not want to be betting against somebody like berry who's been right so many times when others have called him crazy for thinking what he's thought uh looking back at the the dot-com bubble and the housing bubble both of which bury predicted and both of which he actually went short different equities and actually benefited from those crashes i just would not want to be betting against burrie um he's also tweeted about some other things that don't necessarily pertain to the markets um you know a typical bury he's just uh promoting a lot of uh rock bands out there and uh boycotting uh major league baseball boycotting amazon and facebook boycotting coke so he has been somewhat uh red pill in the last year you could probably say um yeah so i all that being said i just i don't have any sort of advice to offer here but my main thoughts on this are that it's good to have a bari back it's good to have his voice at least periodically known and know what he's thinking but in a way i was not surprised at all to hear this update from him because it's entirely what i would expect now you know what could this potentially mean for his portfolio you might ask and you know it's kind of a hard to answer question because he'd also been tweeting about hyperinflation and the extreme threat of inflation occurring um prior to this and we just got his q1 of 2021 13f filing just a couple of weeks ago so we kind of know where he was in terms of his positioning uh only three months ago so a lot could have changed between then and now you know burries a significant trader out there he trades a lot within his scion asset management so it'd be really difficult for me to you know kind of say what would he still be holding what he might have you know sold between then now but um i would guess that he's probably just going to be trimming more and more of his positions as as time goes on as this bubble likely gets closer and closer to actually you know imploding on itself and popping as it were is is commonly referred to with bubbles i would just expect that burial would continue to trim his positions and potentially add even more short positions he has a 40 percent short position in tesla with put options so i mean the 40 is somewhat misleading that's only the that's putting the value on all the shares that are behind those options so he's not actually putting you know 40 percent of you know all of his cash into uh put options on tesla but i would also expect that given all of these bubbles that he's talked about given all these uh you know cryptos and other meme stocks and especially tesla he's confirmed that he's short tesla now in his most recent filing i would expect that he's probably going to start shorting some other things as well that are in that bubble type territory because there's definitely no shortage of stocks like that right now you can find them pretty much in every industry his you know he says it's all across the board right now so all that being said this is not to be taken as financial advice and none of this is if you like this video if you like what i talk about on this channel the contrarian which is uh going against the crowd talking about other people out there who i really think are credible voices on wall street and uh yeah giving giving voices to their ideas if you like that kind of content just consider subscribing and i hope to see you again
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