Michael Burry, star of 2015 hit movie ''The Big Short'' bets big on another crash.
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Michael Burry claims stock market downturn is on the horizon
The infamous star of the 2015 hit Hollywood movie ''The Big Short'' that famously predicted the US housing market crash back in 2008 and made a fortune from it is now betting big on the downturn of the US stock market. According to a report on Money Control, Michael Burry's Scion Asset Management has placed a massive $1.6 billion dollar bet against Nasdaq 100 Index and S&P 500.
His risky move follows a concerning drop off in the stock market and he's now betting big that a crash is on the horizon. The scariest thing about his decision is that he's betting a whopping 90% of his firms portfolio.
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