Official X account for Michael Burry, MD, called "Cassandra" by Warren Buffett. Now on Substack My Web Site: https://teapawt.net/t.co/hQcaqheax5
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Joined November 2011
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Here I explain why markets are so different today, and why they move like they do.
Foundations: Market Structure, Volatility Targeting, Pod Shops & Other Gremlins michaeljburry.substack.com/p…
Capital Cycles outlast bull markets every time. Capital expenditure certainty has not prevented market tops.
It took one really bad day for Wall Street to call it a bottom.
At this point Wall Street is AI. Incapable of an original thought.
My take on Anthropic's amended S-1/A Prospectus michaeljburry.substack.com/p…
Cassandra Unchained is in its anniversary month. What this means is we have been around for just 1 year. 1 year is a useless measure of investment skill. It's not close to long enough.
The Superinvestors of Graham & Doddsville all lost money 3 years in a row during the mid-1970s. Another crop of value investing big guns were left for dead by March 2000. 2026 has been the worst year for consumer sentiment on record, going back to 1952.
We are dealing with extremes, and have been for some time. We should all cut ourselves some slack for what has gone right and wrong over the last year.
Considering the Payments Processing stocks in the wake of a potential deal for Global Payments, Retail Stocks amidst the worst year for consumer sentiment ever, and Hong Kong's Calling Again
Compression, The End of Moats youtu.be/5aCqEOwIUSg?is=-azt… via @YouTube
Here is the link where I made the case last week that beneath the surface the October 6, 2026 record close in the S&P 500 looks more like the March 2000 top than any other record high since 1980.
michaeljburry.substack.com/p…
It’s a perfect storm for Build-A-Bear (BBW), a one-of-one retailer now heavily shorted, 25% of the float, almost 9 days to cover. The stock hit $1.80 in the COVID panic. Soared over $75 last year, now languishes around $25.
Link to Build-a-Bear $BBW report, All Map, Scion Analyst Template
michaeljburry.substack.com/p…
This is fake news.
Michael Burry just laid out a long case for $META arguing that hyperscaler AI spending could lift its implied AI-services margins by ~10%.
Pretty interesting coming from someone who's been so critical of AI spending boom and is now pointing to where those investments could actually pay off.
Readers added context they thought people might want to know
Michael Burry has not laid out a long case for $META or suggested hyperscaler AI spending will pay off. His analyses warn of risks from trillions in off-balance-sheet commitments by hyperscalers including Meta plus accounting that may overstate earnings.
x.com/michaeljburry/…
cnbc.com/2025/11/11/big…
finance.yahoo.com/technology/ai/…
My take on Anthropic's S-1 filing.
michaeljburry.substack.com/p…
The picture is of a market with an increasingly powerful mechanical bid underneath it. Something that does not evaluate, that does not read a rally as useful information at all, and that shows up on declines with a size and a speed that has no precedent
This is obvious to most with a working brain cell.
Griffin thinks GPUs are a commodity: "GPUs, like airlines, have a very low marginal cost to run... the moment you have overcapacity, pricing goes into freefall."
Ken Griffin's bear case is supply passing demand in a business where the next unit costs almost nothing to serve, the same setup that took telecom pricing straight down after the 2000 fiber buildout. He thinks every AI return model in use today assumes that never happens. $NVDA $AVGO
Citadel CEO Ken Griffin Says AI 'Almost Certainly' in a Bubble; Trump Has 'Mixed Scorecard', Bloomberg Podcasts, October 21, 2026
My Cassandra Unchained Substack will NOT have a pricing increase on November 1.
I heard and listened.
In the interest of accessibility and continuity, Cassandra will be Unchanged on November 1.
One year on the Stack, No. 1 Rising on Substack, with 402,000 Followers and 343,000 Subscribers, I thank you all.
