While the 2008 financial crisis is but a distant memory, the lessons learned from that era continue to be felt in the stock market. Michael Burry, who at the time was running the Scion Capital hedge fund, identified that the housing market was under duress because of an unsustainable bubble of risky subprime loans. Burry and his ***** ociates famously bet that the house of cards would fall. The trade was depicted in a book and movie of the same ***** le, The Big Short.
Burry has since closed his hedge fund and today operates a Substack, Cassandra Unchained, in which he talks about the markets. His Substack is closely watched by investors because of his often contrarian takes on the market. One of Burry's most recent posts highlights Adobe (ADBE), which he says has been unfairly punished as investors ignore cash-generating companies in favor of flashy AI stocks that carry sky-high valuations.
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