Michael Burry, the investor who predicted the 2008 housing crash and was the subject of the “Big Short” movie, has bet more than $1.6 billion on a Wall Street crash. Burry is using more than 90% of his portfolio to bet on a market downturn, according to filings. Warren Buffett has been selling rather than buying. Economics professor Steve Hanke said, “The money supply is fuel for the economy, and it has been contracting over the last year. Now, the rate of contraction is -3.6%/yr., something we have not seen since 1938. Following significant changes in the money supply, the economy changes course with a lag of 6-18 months. At present, the economy is running on fumes and a 2024 recession is inevitable.”
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Michael Burry of “Big Short” fame is betting more than 90% of his portfolio on a stock market crash, according to the latest SEC filings.
Michael Burry, the “Big Short” investor who became famous for correctly predicting the epic collapse of the housing market in 2008, has bet more than $1.6 billion on a Wall Street crash.
Burry is making his bearish bets against the S&P 500 and Nasdaq 100, according to Security Exchange Commission filings released Monday. Burry’s fund, Scion Asset Management, bought $866 million in put options (that’s the right to sell an asset at a particular price) against a fund that tracks the S&P 500 and $739 million in put options against a fund that tracks the Nasdaq 100.
Burry is using more than 90% of his portfolio to bet on a market downturn, according to the filings.
[…] The S&P 500 and Nasdaq 100 have both notched big gains so far this year. They’re up nearly 16% and 38%, respectively.
Warren Buffett’s firm Berkshire Hathaway sold a net $8 billion of stock between April and June in a move that suggests the U.S. economy is not out of the doldrums yet, despite consistently slower inflation.
According to Berkshire Hathaway’s second-quarter earnings, released earlier this month, the company sold close to $13 billion worth of shares and bought less than $5 billion. The Nebraska-based investor’s company spent only $1.4 billion in buybacksāa modest sum for the stock market and much less than the $4 billion it spent in the first quarter.
[…] Buffett “has always acted as a voice of confidence for markets during turbulent times,” David Nicholas, president and founder of Nicholas Wealth Management, previously told Newsweek, commenting on Berkshire Hathaway’s first-quarter stock sales. “But this marks a significant departure in his tone and positioning towards U.S. equities.”
As a result of its stock sales in the second quarter, Berkshire Hathaway fattened its cash pile by 13 percent to reach $147 billion between April and June.
“When a recession is right around the corner, Buffett knows that cash is king, particularly when he can earn a decent rate of interest on it,” Steve H. Hanke, a professor of applied economics at Johns Hopkins University, previously told Newsweek.
“Apparently, Buffett anticipates that the U.S. economy is headed for troubled waters. I think he is correct,” Hanke, who served on President Ronald Reagan’s Council of Economic Advisers, told Newsweek on Wednesday.
“The money supply is fuel for the economy, and it has been contracting over the last year. Now, the rate of contraction is -3.6%/yr., something we have not seen since 1938. Following significant changes in the money supply, the economy changes course with a lag of 6-18 months. At present, the economy is running on fumes and a 2024 recession is inevitable.”
[…] So what could Buffett see threatening the U.S. economy that others don’t?
In May, Nicholas told Newsweek that “the three big risks for Buffett were China, the U.S. banking sector and commercial real estate. These are very real risks for economic growth and just one would be enough to derail growth, yet we are dealing with all three at the same time.”
The teenās mother got a phone call from Mexico demanding $500,000 for her sonās safe return. She received a video showing her son in the car. The boy’s father was blamed for some past incident and threats of cutting off the boy’s body parts were made unless the ransom was paid. The teen was rescued in Santa Maria.
The feds raided Menendez’ Englewood Cliffs home in June 2022 and found āthe fruitsā of his ācorrupt bribery agreementā that included a 2019 Mercedes C-Class, at least 13 gold bars and $486,461 in cash.
Newsom signed a bill that will enable him to slap fines on local school districts that refuse to obey state edits on curriculum involving controversial subjects like race, gender, and sexuality. Newsom hopes to punish the Temecula school district as conservatives won school board elections and rejected LGBTQ+ material.
During a parliamentary meeting honoring Ukrainian President Zelensky, Anthony Rota, Speaker of the House of Commons, publicly praised Yaroslav Hunka, 98, a Ukrainian veteran who fought for a Nazi military unit during World War II. Rota resigned from his post on Tuesday.
The primary causes of homelessness are bad policies, drug addiction and the economy. Influential developers are profiting from homelessness.Ā In addition, NGOs would go out of business if the problem was solved.Ā
Marina Abramovic is known for her 1987 performance titled āSpirit Cooking,ā usingĀ pig’s blood on walls to write the recipes that appeared to instruct violent acts during the cooking process. This controversial performance led to rumors of her involvement in black magic with Aleister Crowley at a dinner event.
In May 2021, federal officials were panicked about the link between COVID vaccines and myocarditis and blood clots. The officials then crafted a media response that Wolf said “doesn’t tell the truth,” and is the smoking gun because the government promoted the shots as “safe and effective.”
Video that shows young boy choosing two Oreo cookies over $10,000 cash garnered 25 million views and was praised for effectively demonstrating how children generally lack sound judgment, therefore shouldnāt be allowed to decide their gender or agree to life-altering genital mutilating surgeries.
The Fifth Circuit Court of Appeals upheld a lower courtās injunction banning the White House, surgeon general, CDC and FBI from influencing social media companies to remove so-called ādisinformation”.
Michigan bills would criminalize āintimidatingā an election official. America First patriots who have fought for election integrity for years are concerned that these bills are just a thinly-veiled effort to put them in prison for challenging fraudulent ballots in the 2024 election cycle.
Baltimore has a policy of suspending students with violent and aggressive behavior from school and from the bus. The number of student arrests in Baltimore City Schools has plummeted 98% in 2022, but whistleblowers reported that authorities are trying to keep the numbers down for political reasons.
Alleged provocateur Ray Epps was charged with one count of a misdemeanor offense although he was recorded on video several times exhorting people to enter the Capitol. He was also filmed pushing a large metal sign into a police line.
DensePose, developed by Meta/Facebook, can detect the pose of humans in a room based solely on the WiFi signals passing through the environment. Nearly a third of Gen Z favor the installation of government surveillance cameras in homes.
Newsom faced criticism over the strict lockdowns and mask mandates he implemented in California that prompted a recall effort. While Newsom did say, “We would have done everything differently,” he failed to take responsibility for the COVID policies he implemented.
Former Capitol Hill Police Chief Steven Sund has said that, in addition to the paid informants, the FBI had at least 18 undercover agents in the crowd plus an estimated 20 from the Department of Homeland Security.
Chemirmir, 50, was serving life in prison without parole after he was twice found guilty of capital murder by Dallas County juries. He has been accused of killing 24 people. Authorities suspected that Chemirmir could be involved in in about 1,000 suspicious deaths in Texas.
The new program called ‘Temporary Protected Status’ offers them deportation protections and the ability to work legally for at least 18 months. However, it takes 10 to 18 months to obtain a work permit.
The scientists discovered that not only did the jabs not save lives, but the shots consistently appeared to be killing people in large numbers. The authors concluded that governments should immediately end the policy of pushing shots on vulnerable elderly people.
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Offline is a documentary on the inevitability of the Earth being slammed by a mega solar flare – not the common type that interrupts communications and creates a light show in the Northern skies – but the big brothers thousands of times more powerful. These monsters deliver enough energy to blow apart the master transformers that supply the planetās energy grids. When that happens, the lights go out for longer than anyone wants to think about. These X-Class solar storms hit the Earth every 150 years, on average. The last one arrived 156 years ago. We are overdue (More)
The legislation allots $350-billion to states that ruined their own economies with harsh business closures. It will extend unemployment and authorizes cash payments of $1,400 to individuals. There is plenty of other pork and Covid-19 related expenditures, including $46-billion for testing and tracing.
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Milton Farrow
1 month ago
BANK AMERICA IS A TICKING TIME BOMB- THE SHORTS WILL WIPE THE FLOOR WITH STUPID GAMBLERS WHO REFUSE TO REALIZE THE MARKET
IS RIGGED-
Ed
1 month ago
Not since 1938 ? Hmmm, good ol’ FDR had problems with HIS economy too. Know how he ‘got things going ?’ He made sure we / USA got into a friggin’ world war ! ! !
Jimbo
1 month ago
Check out Jerome Corsi’s latest 2023 book: “How the Coming Global Crash Will Create a Historic Gold Rush” and combine this with Texas’ government “transactional gold” initiative, recognizing that the BRICS nations are soon to be announcing a breakaway from the US”$” as world reserve currency. Couple that with the fact the US Constitution permits states to issue gold and silver coin as (only) “legal tender.” This effectively takes those two metals out of just commodity status....Texas will soon be issuing “debit cards” backed by purchaser owned, legal Au/Ag tender, which are transactionable for store item purchasing when converted to… Read more »
Beauty of the Texas initiative is an owner of state issued, physical gold/silver legal tender – accessed both ways via state debit card (not processed by a credit card company) – essentially becomes his own “middle-man.” Nominal fees apply to transactions. Assets protected against inflation. Cash outs into paper fiat also their option.
Note an owner never actually holds any physical gold or silver tender (coins, bullion) in his pocket. Sorry FDR, your rules won’t apply here.
cmdrsocal
1 month ago
Burry is rolling the dice again like he did with Tesla. The USD will remain the safe haven because everyone else is worse. Evergreen just filed for bankruptcy. Russia is a mouse being smacked around by the cat NATO. Brazil is a backwards 2nd world dump. BRICS is the establishment with its top people from IMF, WEF, Gates Foundation. BRICS originated in Goldman Sachs. The US economy will collapse if and when the establishment says so and Burry is not an insider.
Offline is a documentary on the inevitability of the Earth being slammed by a mega solar flare – not the common type that interrupts communications and creates a light show in the Northern skies – but the big brothers thousands of times more powerful. These monsters deliver enough energy to blow apart the master transformers that supply the planetās energy grids. When that happens, the lights go out for longer than anyone wants to think about. These X-Class solar storms hit the Earth every 150 years, on average. The last one arrived 156 years ago. We are overdue (
BANK AMERICA IS A TICKING TIME BOMB- THE SHORTS WILL WIPE THE FLOOR WITH STUPID GAMBLERS WHO REFUSE TO REALIZE THE MARKET
IS RIGGED-
Not since 1938 ? Hmmm, good ol’ FDR had problems with HIS economy too. Know how he ‘got things going ?’ He made sure we / USA got into a friggin’ world war ! ! !
Check out Jerome Corsi’s latest 2023 book: “How the Coming Global Crash Will Create a Historic Gold Rush” and combine this with Texas’ government “transactional gold” initiative, recognizing that the BRICS nations are soon to be announcing a breakaway from the US”$” as world reserve currency. Couple that with the fact the US Constitution permits states to issue gold and silver coin as (only) “legal tender.” This effectively takes those two metals out of just commodity status....Texas will soon be issuing “debit cards” backed by purchaser owned, legal Au/Ag tender, which are transactionable for store item purchasing when converted to… Read more »
Beauty of the Texas initiative is an owner of state issued, physical gold/silver legal tender – accessed both ways via state debit card (not processed by a credit card company) – essentially becomes his own “middle-man.” Nominal fees apply to transactions. Assets protected against inflation. Cash outs into paper fiat also their option.
Note an owner never actually holds any physical gold or silver tender (coins, bullion) in his pocket. Sorry FDR, your rules won’t apply here.
Burry is rolling the dice again like he did with Tesla. The USD will remain the safe haven because everyone else is worse. Evergreen just filed for bankruptcy. Russia is a mouse being smacked around by the cat NATO. Brazil is a backwards 2nd world dump. BRICS is the establishment with its top people from IMF, WEF, Gates Foundation. BRICS originated in Goldman Sachs. The US economy will collapse if and when the establishment says so and Burry is not an insider.