2023 Might See 2008 like Financial Crash - Michael Burry
Legendary investor and hedge fund manager Michael Burry tweeted on March 12 about the dire status of the financial world.
Burry has a track record of correctly predicting events in the financial markets, such as the global financial crisis of 2008.
He criticized Silicon Valley Bank's (SBV) executives for their carelessness, saying that people with big egos and a desire for riches have historically taken risky actions that have resulted in disaster.
As examples of these failures, Burry cited the dot-com bubble in 2000, the mortgage crisis in 2008, and the current situation in 2023.
He added that when these mistakes happen, governments frequently turn to money printing more, a strategy he believes has been overdone "because it works so well."