Re:Michael Burry, of Big Short fame, just bet $1.6B on a sto...
by rchaud on Wednesday August 16, 2023 @10:04AM
(#37147198)
The covid shock was managed because almost every government switched to expansionary fiscal and monetary policy to keep unemployment down. Interest rates have gone up massively, and Covid relief payments have dried up.
The market does seem overpriced at the moment, particularly stocks like Nvidia undergoing some kind of correction, but it seems that the medium term trajectory is on the rise. I'm not sure what kind of huge downturn the market isn't going to be able to account for when phenomenal, unprecedented shocks like COVID are something it took in its stride even though prices are still recovering due to the debt so many companies took on. The bullish run of the past 6 months seems to have taken analysts by surprise so to be expected that some of them are now betting against its turn in the other direction.