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“The Big Short” investor Michael Burry tweeted out a piece of investing advice consisting of just one word, a day before the Federal Reserve’s market-moving interest rate decision. “Sell,” Burry said in a Twitter post to his 1.3 million followers Tuesday evening, which garnered more than 40,000 likes in hours. Burry, who runs a hedge fund at Scion Asset Management, has been negative about the markets throughout the last one year. The famed investor, known for calling the subprime mortgage crisis, has drawn parallels between today’s market environment and that of 2008, saying it’s like “watching a plane crash.” His comment came after the stock market staged a big comeback in the new year, led by beaten-down technology names. The S & P 500 rallied 6.2% in January, notching its best start of the year since 2019. The tech-heavy Nasdaq Composite jumped 10.7% last month for its best monthly performance since July. The Fed is expected to raise interest rates by a quarter point Wednesday, its smallest increase since it began hiking rates last March. But investors are hoping the central bank will signal a pause in its tightening campaign. Burry shot to fame by betting against mortgage-backed securities before the collapse of the mid-2000s housing bubble. Besides his “Big Short,” Burry made a killing from a long GameStop position amid the historic meme stock mania in 2021.
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