Michael Burry first tweet in years... It's going to burst.
(media.scored.co)
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He also posted 'sell' year or two ago....then the market went up 30%.
I trade futures contracts— Mostly indexes, oil, gold, and some fx.
I have no idea what’s going on. The derivatives are stacked to the sky, and bundled with dogshit. In 2008, the mortgage-backed dogshit securities crumbled… Now it’s like 10,000x/leverage… but everything… even bonds, treasuries are trading sideways and unpredictable—Fed cuts rates, you expect the market to act one way— poof.
Company share buybacks have gotten out of control. That’s the main factor, apart from “speculation” that is pumping the market.
All of the major hedges are just playing with each other and juggling…
He was right about two years ago— but credit default swaps happened and credit ratings were extended here and dropped there…
Blackrock just committed major fraud by claiming to have been frauded by some Indian dude who had NO REAL asset sheets or collateral or anything. Allegedly, they didn’t check out any of his credentials before loaning him $150bn.
They really think we’re that retarded.
so whats the play to make gains now? stay cash?
hmm i guess ill just go for gold tbh. what % ratio do you recommend for metals vs cash?