Nov 24 (Reuters) -
"The Big Short" investor Michael Burry, who has expressed
skepticism of the current AI boom, has launched a paid
newsletter on Substack, with a focus on stocks, market and
economic trends, days after shutting down his hedge fund.
Burry, who shot to fame for betting against the U.S.
housing market ahead of the 2008 financial crisis, is widely
watched for his comments on markets and the economy. His bets
have long been dissected by traders for clues on looming bubbles
and signs of market froth.
"I am not retired," Burry wrote on Substack, adding that
the blog titled Cassandra Unchained had his "full attention."
The newsletter currently has more than 21,000 subscribers
and costs $39 per month. He has hinted at a publication schedule
of generally one or more pieces most weeks.
Burry's two posts on Substack so far are titled
"Foundations: My 1999 (and part of 2000)" and "The Cardinal Sign
of a Bubble: Supply-Side Gluttony", in which he discusses the AI
bubble.
Earlier this month, Burry closed Scion Asset Management and
returned capital to investors.
Burry did not immediately respond to a Reuters request for
comment.
Burry said managing money professionally came with
regulatory and compliance constraints that "effectively muzzled"
his ability to communicate, leading to misunderstandings around
his SEC filings that sparked market turmoil and heated debates
he said he never intended.
Recently, Burry stepped up criticism of technology
heavyweights, including Nvidia ( NVDA ) and Palantir
Technologies ( PLTR ), questioned the cloud infrastructure boom
and accused major providers of using aggressive accounting to
inflate profits from their massive hardware investments.
Burry's short position against subprime mortgage securities
during the housing market crash was chronicled in Michael
Lewis's book "The Big Short" and its film adaptation.
(Reporting by Shashwat Chauhan in Bengaluru; Editing by Anil
D'Silva)