Burry trade posts leading to disaster
I want to talk about this in a productive manner. I don't intend for this post just to make fun of him. But seriously, I think that his substack is now disastrous since he is actively losing money on nearly all his trades. I know that on a longer term basis maybe some of his trades will be eventually validated but you are currently better off just buying and holding SPY than listening to him.
Especially with his options trades. Since contracts expire, those can lead to irreversible losses. Burry showcased having QQQ and NVDA puts a month ago which are now down 50 percent. There is still time left on the options so theoretically they could still print but immediately leading his followers to take a 50 percent haircut is very troubling.
Nearly all of his stock picks are underperforming the market. Freddie/fannie, software companies, LULU for examples. Again he said that these picks might require time but how long can somebody hold onto that pain when people just holding an index fund without thinking are crushing their returns?
The disastrous Ryan Cohen interview is also very embarassing when Burry previously offered praise to Cohen.
Being early unfortunately is the same thing as being wrong. If the market doesn't collapse until years later what will it mean for his reputation?
(Note: i have not been following his trades myself)