You obviously don't have to listen to every guy who claims that the U.S. is teetering on the verge of an historic, maybe once-in-a-generation recession and/or financial crisis.
But there are some of them who might be worth heeding just a little bit.
Famed investor Michael Burry delivered arguably his most dire warning about the current US economy to date late Thursday – suggesting he is concerned the ongoing downturn could be worse than the Great Recession.
Burry, the boss of Scion Asset Management, noted that one of his market analysts said his comments were "spooky" because he voiced his concerns on Sept. 29 – the anniversary of a 777.68-point drop in the Dow Jones Industrial Average in 2008 that ranked at the time as the largest single-day plunge in history.
"Today I wondered aloud if this could be worse than 2008," Burry said in a now-deleted tweet. "What interest rates are doing, exchange rates globally, central banks seem reactionary and in [cover your a – ] mode."
People logging on and reading that tweet like:
I mean, he did delete it, so maybe he reconsidered.
Still:
The Dow had plummeted nearly 500 points before Burry's tweet and has pared more than 20% from its high of nearly 37,000 — putting it into bear market territory. It was down nearly 100 as of Friday at 1 PM.
Oh man.
As always: Buckle up.
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