Michael has predicted 1000 out of the past 3 recessions
This Big Short Investor Is Betting Against AI. Is He Making a Big Mistake?
"The market can remain irrational longer than you can remain solvent," is a financial industry shibboleth most investors have learned though a great deal of pain.The quote, attributed to legendary economist John Maynard Keynes, isn't likely to be put to the test by Michael Burry, the famed investor who correctly bet against the housing market in 2006, but it's still worth exploring.Burry's wagers against two of the market's iconic artificial intelligence stocks -- Nvidia and Palantir -- were unveiled in a Securities and Exchange Commission filing published late Monday. Social media posts underlining his views on Nvidia's place at the center of circular AI financing soon followed.Nvidia, which reports its fiscal third quarter earnings later this month, is likely to be the principal beneficiary of the huge increases in capital spending unveiled by the megacap tech giants such as Microsoft, Google, Amazon, and Facebook parent Meta Platforms last week.The four major hyperscalers, in fact,
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