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7/24/2026

Michael Burry Says This Market Feels Like 1999. Here Is What That Warning Means for Small Caps

Michael Burry, the investor whose prediction of the 2008 housing crash inspired The Big Short, is once again warning that markets have detached from fundamentals. Throughout 2026, Burry has taken bearish positions against several high-profile AI-related technology names, arguing that investor enthusiasm has pushed valuations in that corner of the market well beyond what the underlying businesses justify.

4 min read