‘Worse Than 2008’: ‘Big Short’ Guru Sees Horrific Downturn

US dollar bill and binary code (Digital Composite)

At a glance

  • Famed investor Michael Burry delivered arguably his most dire warning about the current US economy to date late Thursday – suggesting he is concerned the ongoing downturn could be worse than the Great Recession.
  • Burry, the boss of Scion Asset Management, noted that one of his market analysts said his comments were “spooky” because he voiced his concerns on Sept. 29 – the anniversary of a 777.68-point drop in the Dow Jones Industrial Average in 2008 that ranked at the time as the largest single-day plunge in history.
  • “Today I wondered aloud if this could be worse than 2008,” Burry said in a now-deleted tweet. “What interest rates are doing, exchange rates globally, central banks seem reactionary and in [cover your a–] mode.”

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