"The Big Short" Barry's newest statement: US stocks currently have no risk of a "sharp top" collapse, but we should be vigilant about the 40% inflated earnings of tech stocks.
The "Big Short" investor Michael Burry recently released a series of heavy market viewpoints. On one hand, he stated that the current hot surge in the US stock market is not yet going to immediately turn into a devastating collapse, but on the other hand, he used detailed data to prove that Wall Street has systematically overestimated the true earnings of tech giants by more than 40% over the past decade, and ordinary investors are paying the price for this. In fact, this is not the first time Burry has questioned the accounting practices of tech companies. He previously warned that AI giants artificially inflate profits by underestimating asset depreciation.
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