After a dismal 2022, the stock market has had a red-hot start to the year, with the S&P 500 soaring over 6% in January and tech stocks having their best month since 2001. But Michael Burry, the hedge fund manager best known for predicting and profiting from the collapse of the housing market in 2007 and 2008, is predicting a dark turn.
“Sell,” he wrote in a one-word, since-deleted tweet on Tuesday. The missive came just hours ahead of the Federal Reserve’s announcement of its latest interest rate decision, and chair Jerome Powell’s highly-anticipated press conference.
