Bubble watch, courtesy of Burry
Michael Burry — the guy who made “I told you so” look like an investing strategy — is back with a fresh dose of skepticism. On Monday, he posted that it’s “been ridiculous for a very very long time,” which is basically Wall Street shorthand for: somebody please stop the music before the chairs disappear.
AI is doing the most
His comment landed right as investors kept piling into the usual AI heavyweights. Nvidia, Microsoft, Meta, and Alphabet have all been riding the same wave: more AI optimism, more market-value gains, and more people pretending valuation math is optional.
- The AI trade has been the market’s favorite treadmill: fast, sweaty, and somehow still going up.
- Burry’s point isn’t that these companies are bad businesses; it’s that great companies can still get priced like they’re made of unicorn dust.
SpaceX adds rocket fuel
The other ingredient in this market cocktail? SpaceX’s eye-popping public debut. The IPO raised $75 billion and instantly became the biggest on record, because apparently “large” no longer means what it used to.
That kind of debut tends to do two things at once:
- Feed the optimism machine.
- Make skeptics like Burry reach for the volume button on their warnings.
Big picture
You don’t have to be a doomsday prophet to notice when enthusiasm starts sounding a little too much like a group chat after two espressos. Burry isn’t calling the top with a fireworks display here — but he is reminding investors that when everything is “the next big thing,” the market can get a little too enchanted with its own reflection.