Investors / stance tracking
What Michael Burry is saying
FollowFollowingUnfollowFounder, Scion Asset Management
37 dated public stances tracked since 2010-09-07, most recently 2026-09-09. Each line carries the date and the venue it came from; quotation marks mean verbatim. Methodology.
The stances below are c8alpha's editorial distillation of Michael Burry's public commentary — television, podcasts, and interviews — compiled by automated transcript analysis and dated to the episode they came from. They may lag the speaker's current view and may contain extraction errors. Text in quotation marks is verbatim from the episode; everything else is our paraphrase. Michael Burry is not affiliated with c8alpha and has not endorsed this page. Nothing here is investment advice.
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37
tracked stances
27
themes
0
side flips
2026-09-09
last heard
Returns 90d +1.9% 48% correct · 23 calls · 180d -5.3% 36% correct · 14 calls · 1y -8.4% 33% correct · 6 calls
Raw direction-aware returns on public statements — long calls credited when the price rose, shorts when it fell, shorts capped at −100% — in a rising market this mostly measures who was long, not who has skill. Returns run from the stance date; calls are rarely closed publicly, so fixed 90-day / 180-day / 1-year horizons are used. A horizon shows only once it has fully matured, and only at 5+ scored stances. “% correct” is the share of those scored calls whose direction-aware return was positive at the horizon — in a rising market a bullish call is correct by default, so read it beside the market, not alone.
Scored calls
Every tracked call with at least one matured horizon: the rows behind the Returns line above. A dash is a horizon that has not matured yet.
| Date | Name | Call | 90d | 180d | 1y |
|---|---|---|---|---|---|
| 2026-05-28 | TSLA | bearish | +21.8% | — | — |
| 2026-05-28 | SPX | bearish | -1.8% | — | — |
| 2026-05-28 | PLTR | bearish | -23.8% | — | — |
| 2026-05-28 | NVDA | bearish | +2.0% | — | — |
| 2026-05-28 | JD | bullish | -1.3% | — | — |
| 2026-05-28 | HEALTHCARE | bullish | +15.5% | — | — |
| 2026-05-28 | GOOGL | bearish | +12.3% | — | — |
| 2026-05-28 | GOLD | owns | +2.1% | — | — |
| 2026-05-28 | BITCOIN | bearish | -7.5% | — | — |
| 2025-12-15 | HEALTHCARE | bullish | -2.8% | -1.2% | — |
| 2025-12-03 | GOOGL | bearish | +5.0% | -17.9% | — |
| 2025-12-03 | GOLD | owns | +21.0% | +6.3% | — |
| 2025-12-03 | BITCOIN | bearish | +26.9% | +23.7% | — |
| 2025-12-02 | SPX | bearish | -1.0% | -11.9% | — |
| 2025-12-02 | NVDA | bearish | -0.6% | -23.7% | — |
| 2025-11-11 | PLTR | bearish | +25.2% | +28.3% | — |
| 2025-11-11 | META | bearish | -8.1% | +4.3% | — |
| 2023-01-27 | CASH | bullish | +1.1% | +2.3% | +5.1% |
| 2022-12-11 | Big Tech | bearish | -2.0% | -24.6% | -39.4% |
| 2022-12-10 | SPX | short | +2.8% | -8.5% | -17.6% |
| 2022-12-10 | GEO | bullish | -22.9% | -30.1% | -5.6% |
| 2022-12-10 | CXW | bullish | -17.5% | -19.0% | +17.4% |
| 2021-04-17 | USD | bearish | -1.7% | -2.9% | -9.9% |
Most-argued themes
| Theme | Stances | Lean | Mix | Last |
|---|---|---|---|---|
| GOLD | 3 | 3 bullish | 2026-05-28 | |
| SPX | 3 | 3 bearish | 2026-05-28 | |
| BITCOIN | 2 | 2 bearish | 2026-05-28 | |
| GOOGL | 2 | 2 bearish | 2026-05-28 | |
| HEALTHCARE | 2 | 2 bullish | 2026-05-28 | |
| NVDA | 2 | 2 bearish | 2026-05-28 |
Tracked stances
bullish / bearish is a view they argued; owns / short is a position they said they hold.
2026-09-09
short NVDA / long NVDA
hedge
Michael Burry · synthetic
Nvidia is structurally overvalued due to circular AI financing and inflated depreciation assumptions, warranting a large short via puts, but near-term earnings power is real so a small call position hedges the entry timing
“on the face of it, the stock looks wildly undervalued for a company growing that fast”
Michael Burry Tried To Warn Us About AI. But Nobody Listened.
Passive indexing has made the entire US equity market move in lockstep so there is no longer a value-stock escape hatch — when selling starts, indiscriminate index redemptions will pull everything down together
“I think the whole thing's just going to come down... that's why I decided to get out of it”
90d -1.8%
Michael Burry Is Warning Of Something Big
Palantir simply rebranded existing consulting software as AI after ChatGPT launched — no genuine AI product — and the chart shows a classic head-and-shoulders pattern with a technical target near $50
“they basically put an AI cover on their applications they were selling”
90d -23.8%
Michael Burry Is Warning Of Something Big
Bitcoin is a speculative mania with no underlying value — a modern tulip bulb that has also enabled criminal activity — and the current two-peak price pattern mirrors the 2021 top followed by collapse
“It's a tulip bulb of our time. It's worse than a tulip bulb”
90d -7.5%
Michael Burry Is Warning Of Something Big
Nvidia's AI dominance is luck not vision — the GPU was built for gaming and happened twice to be the right architecture (crypto mining, then AI training) — and the market is pricing it as strategic genius it does not deserve
“Palantir and Nvidia are the two luckiest companies on the planet”
90d +2.0%
Michael Burry Is Warning Of Something Big
Said again: 2026-06-26 (Michael Burry)
Alphabet is issuing a 100-year bond near peak dominance — mirroring Motorola in 1997 — while AI is turning its near-free search queries into expensive LLM calls, threatening the golden goose that generates all its cash flow
“that business is the golden goose and it's really basically all their cash flow”
90d +12.3%
Michael Burry Is Warning Of Something Big
Gold is the durable safe haven when US equities are historically overvalued with no hiding place inside domestic stocks
“I've had gold since 2005”
90d +2.1%
Michael Burry Is Warning Of Something Big
Healthcare equities are deeply out of favor relative to the AI/tech mania, making them a contrarian safe haven when the broader market corrects
“buy healthcare stocks. They're really out of favor”
90d +15.5%
Michael Burry Is Warning Of Something Big
Tesla's $1 trillion valuation is unsupported by its $3.8B annual profit from cars, and the bull narrative serially shifts to a new story (EVs → autonomy → robots) every time competition exposes the prior thesis
“Tesla's market capitalization is ridiculously overvalued today and has been for a long time”
90d +21.8%
Michael Burry Is Warning Of Something Big
JD.com and Hong Kong-listed equities are deeply out of favor and represent a contrarian opportunity at heavily discounted valuations
“Haha, but it is just getting good. Hong Kong on sale!”
90d -1.3%
Michael Burry Is Warning Of Something Big
2026-01-31
AGRICULTURAL LAND WITH WATER RIGHTS
owns
Michael Burry · video
Productive farmland with on-site water access will appreciate significantly as a scarce real asset, justifying a meaningful alternative investment allocation alongside equities
“productive agricultural land with water on site will be very valuable in the future and I've put a good amount of money into that”
Michael Burry - The Downfall of a Finance Genius | Documentary.
Healthcare is deeply out of favor relative to AI/tech names that have run up, creating a relative-value opportunity as the market reprices away from the AI bubble
“if you're going to buy something now, buy healthcare stocks. They're really out of favor”
90d -2.8% · 180d -1.2%
RARE Interview: Michael Burry Warns About What’s Coming in 2026
2025-12-15
Ai Infra
bearish
Michael Burry · video
The current AI CapEx ramp mirrors the dot-com fiber build-out where the NASDAQ peaked before CapEx even peaked; stocks that announce AI spending get a 3:1 market-cap lift per dollar, but the bubble top precedes the CapEx peak in every prior cycle
“if you announce a dollar of CapEx on AI, your market cap will go up $3 for every dollar”
RARE Interview: Michael Burry Warns About What’s Coming in 2026
Bitcoin at $100,000 has no intrinsic value, is widely accepted as normal only due to mass delusion akin to tulip bulb mania, and has enabled criminal activity, making it uninvestable
“Bitcoin at 100,000 is the most ridiculous thing. It's the tulip bulb of our time—worse than a tulip bulb.”
90d +26.9% · 180d +23.7%
Michael Burry on "What I See Coming in 2026" (Rare Interview)
Said again: 2025-12-15 (Michael Burry)
2025-12-03
HEALTHCARE STOCKS
bullish
Michael Burry · video
Healthcare stocks are deeply out of favor relative to AI-driven market leaders, presenting a contrarian value opportunity as capital rotates away from overvalued tech
“if you're going to buy something now, buy healthcare stocks—they're really out of favor”
Michael Burry on "What I See Coming in 2026" (Rare Interview)
AI is structurally threatening Google's core search business because LLM queries cost orders of magnitude more than traditional search, destroying the unit economics of the golden goose that generates nearly all of Alphabet's cash flow
“I don't use Google. Google search's magic was how little it cost. AI changes that—AI is expensive.”
90d +5.0% · 180d -17.9%
Michael Burry on "What I See Coming in 2026" (Rare Interview)
2025-12-03
AI CAPEX CYCLE / DATA CENTER INFRASTRUCTURE
bearish
Michael Burry · video
The AI capex boom mirrors the fiber/router buildout of the dot-com era where stock market peaks preceded capex peaks and massive investment continued into the bust; current capex-to-GDP ratios are near dot-com peak levels, signaling the bubble is near its end…
“the relevant stock market peak was before you were even halfway done with the capital expenditure”
Michael Burry on "What I See Coming in 2026" (Rare Interview)
Gold is a long-held store of value hedge against institutional pessimism about debt, Fed policy, and currency debasement, held continuously since 2005
“I have had gold since 2005.”
90d +21.0% · 180d +6.3%
Michael Burry on "What I See Coming in 2026" (Rare Interview)
Said again: 2025-12-15 (Michael Burry)
With over 50% of money now passive/index-driven and fewer than 10% of assets actively managed on a long-term basis, the flight-to-value rotation that cushioned 2000's NASDAQ crash no longer exists — the whole market will fall together in the next downturn…
“I think the stock market could be in for a number of bad years... a longer bare market more akin to 2000”
90d -1.0% · 180d -11.9%
Said again: 2025-12-03 (Michael Burry), 2025-12-15 (Michael Burry)
Nvidia is an accidental AI beneficiary — GPUs were adopted for crypto then AI simply because they were available, not purpose-built — and the AI capex buildout mirrors the dot-com fiber bubble where relevant stocks peaked before capex spending even crested
“Nvidia was lucky. They got lucky once with the crypto mining... And then AI came along and it's the same deal.”
90d -0.6% · 180d -23.7%
Said again: 2025-12-03 (Michael Burry), 2025-12-15 (Michael Burry)
Hyperscalers are artificially extending the useful life of compute equipment to understate depreciation, overstating earnings by an estimated $176B by 2028 and inflating reported profits by up to 26.9%
“By my estimates, that will understate depreciation by $176 billion by 2028. ORCL will overstate earnings by 26.9%, Meta by 20%”
90d -8.1% · 180d +4.3%
Big Short's Michael Burry: Tech Stocks HIDING Losses
Palantir trades at a PE ratio of ~523x, implying growth expectations so extreme that even strong but not exceptional performance would disappoint, making the valuation unjustifiable on fundamentals
“the stock is up 217% year-to-date. They have a PE ratio of 523 times, extremely large multiples”
90d +25.2% · 180d +28.3%
Big Short's Michael Burry: Tech Stocks HIDING Losses
Said again: 2025-12-02, 2025-12-03 (Michael Burry), 2025-12-04, 2025-12-15 (Michael Burry)
2023-01-27
UNPROFITABLE HIGH-CAP GROWTH STOCKS (UBER, SNOWFLAKE, LUCID, RIVIAN, SHOPIFY CITED AS EXAMPLES)
bearish
video
218+ companies above $1B market cap losing >$100M annually mirror the 2008 cohort that kept declining for years once the cycle turned; these names still have a ways to fall
“darling businesses still had a ways to fall”
2023-01-27
INFLATION (MACRO)
bullish
video
Money-velocity dynamics ensure inflation re-accelerates after each apparent reprieve; since 1940 inflation has never occurred once and disappeared — it comes back, erasing equity gains
“it resolves, fools people, and then comes back”
FCF-generating 'boring' businesses are deeply oversold and ignored while still-expensive momentum darlings have further to fall, creating a multi-year setup for value to outperform
“free cash flow totally on sale and ignored while former momentum stocks are coming down but not far enough”
90d +1.1% · 180d +2.3% · 1y +5.1%
2022-12-11
Big Tech
bearish
Michael Burry · video
NASDAQ is in a bear market rally analogous to the post-dot-com bounce of mid-2001, with further downside of ~48% still possible before a true bottom, driven by earnings compression in software and hardware subscription-model companies.
“can't shake that silly pre-Enron pre-9/11 pre-WorldCom feeling”
90d -2.0% · 180d -24.6% · 1y -39.4%
Michael Burry on the Stock Market Crash - 2023 Deep Recession
2022-12-11
US ECONOMY / MULTI-YEAR RECESSION
bearish
Michael Burry · video
No policy lever or market force exists to pull the US out of the current downturn, making an extended multi-year recession the base case with no consensus forecaster acknowledging it.
“we are really looking at an extended multi-year recession”
Michael Burry on the Stock Market Crash - 2023 Deep Recession
2022-12-11
UNPROFITABLE GROWTH STOCKS (EBITDA < -$100M, MKT CAP > $1B)
bearish
Michael Burry · video
264+ companies worth over $1B with deeply negative EBITDA are still priced into the market; rising interest rates make borrowing expensive and punish companies dependent on external capital rather than organic profits, so 'all the silliness must go'.
“all the silliness must go”
Michael Burry on the Stock Market Crash - 2023 Deep Recession
Geo Group trades at a very low P/E (~7.87x) with deep-value characteristics, and has dramatically reduced near-term debt maturities from $2B to $23M, offering multiple expansion potential that most investors overlook due to the stigma of private prisons.
“successful deep value investing requires investors to get comfortable wading through the mud in order to seek out diamonds”
90d -22.9% · 180d -30.1% · 1y -5.6%
Michael Burry's 'Big Short' Against the Stock Market
CoreCivic's real asset value (private prison beds valued at ~$66k/bed implies $4B+ portfolio value vs. $2.8B market cap) is understated, and government inability to replace private prison capacity gives the company pricing power even under a hostile political…
“the sale of this prison represents 66,000 per bed which would value core Civic's portfolio of prisons over four billion dollars”
90d -17.5% · 180d -19.0% · 1y +17.4%
Michael Burry's 'Big Short' Against the Stock Market
Burry's tweet 'you have no idea how short I am' and low 13F equity exposure (~26% of estimated capital deployed) suggest he holds large undisclosed short positions against the broader stock market reflecting strong overall bearishness.
“you have no idea how short I am”
90d +2.8% · 180d -8.5% · 1y -17.6%
Michael Burry's 'Big Short' Against the Stock Market
Said again: 2022-12-11 (Michael Burry)
The Fed's QE money-printing is actively debasing the dollar, making foreign-currency accounts such as Canadian bank accounts a prudent hedge for individual savers
“i might recommend opening a bank account in canada”
90d -1.7% · 180d -2.9% · 1y -9.9%
2016-11-21
Mortgage Reits
bearish
Michael Burry · video
MBS bonds marketed as 65% AAA are actually filled with risky subprime adjustable-rate loans that will begin defaulting en masse when rates reset in 2007, and above a 15% failure threshold the entire bond becomes worthless
“these mortgage back Securities are filled with extremely risky subprime adjustable rate loans and when the majority of the adjustable rates kick in in '07 they will begin to fail”
The Big Short (2015) - Dr Michael Burry analyzes Subprime MBSs (Feat. Margot Robbie) [HD 1080p]
US QE is actively monetizing the debt and debasing the dollar, making foreign financial system exposure prudent as insurance against US fiscal deterioration
“I might recommend opening a bank account in Canada”
Michael Burry on the financial crisis
Gold is the primary macro thesis Burry has bought into given his view of how the world plays out post-crisis, making it the one non-land investment he explicitly endorses
“other than gold I haven't really bought into any of the other thesis”
Burry Discusses Investing in Farmland, Real Estate, Gold: Video
2010-09-07
PRODUCTIVE AGRICULTURAL FARMLAND WITH ON-SITE WATER
owns
Michael Burry · video
Productive farmland with water rights will appreciate substantially as food and water scarcity increase, and buying raw land (not land-related equities) gives the cheapest direct exposure
“productive agricultural land with water on site will be very valuable in the future and I've put a good amount of money into that”
Burry Discusses Investing in Farmland, Real Estate, Gold: Video
2010-09-07
DISTRESSED PHYSICAL REAL ESTATE (SPECIAL SITUATIONS)
bullish
Michael Burry · video
While the broad housing recovery will be muted, select distressed physical real estate offers value through special-situation pricing that the crowd of bargain-hunters is overlooking
“you need to find special situations — that's how I've invested from the beginning”
Burry Discusses Investing in Farmland, Real Estate, Gold: Video
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