Michael Burry's $1.6 Billion Bet Signals Impending Stock Market Crash

Michael Burry, the investor famous for predicting the 2008 housing market collapse, has placed bearish bets of over $1.6 billion against the S&P 500 and Nasdaq 100, using more than 90% of his portfolio. Despite his previous wavering between bullish and bearish sentiments, Burry's fund, Scion Asset Management, has made significant bets on a market downturn. Burry's investment record has been strong, with traders following his disclosed investments over the past three years seeing annualized returns of 56%, compared to the S&P 500's 12% over the same period.