Nov. 8 at 9:58 AM
$SPY I find it amazing how it's legal for someone like Micheal Burry to announce a short position knowing full well that his words will cause a seismic shift in the market. Aside from the big short from 2008, most of his predictions are wrong and don't go according to plan, but he still shifts the markets with his short reports and announcements because investors fear the 'what-if' mentality.
It's no different from insider trading at this point... He shorts the market when it's rallying, then announces it a while later through his company reports, which by then the stocks have risen further. Once it's announced there is a decent pullback and he walks away with Dosh... No better than the Chinese scams like
$SOS where they constantly use splits and share dilutions to rinse retail and general investors.
I'm all for people making money, but this system is broken.
