Michael Burry: "My short-selling outlook on NVIDIA (NVDA) and Tesla (TSLA) was not wrong"

▲ Michael Burry, Tesla (TSLA), NVIDIA (NVDA), Artificial Intelligence (AI), US Tech Stocks/AI generated image

‘Big Short’ investor Michael Burry directly confronted criticisms that his outlooks on NVIDIA (NVIDIA, NVDA), Tesla (Tesla, TSLA), and the US housing market were all wrong. Burry retorted to a post that mocked him as ‘Captain Broken Clock’ saying, "Nice graphic, but none of it is true."

According to US economic media outlet Benzinga on July 6 (local time), an X (formerly Twitter) user claimed that Burry had repeatedly missed major market predictions. The post referred to Burry as ‘Captain Broken Clock’. Burry countered, "Nice graphic, but none of it is true."

The phrase ‘broken clock’ is also linked to Tesla CEO Elon Musk’s remarks in 2021. Musk at the time called Burry a ‘broken clock’ for questioning his reasons for selling Tesla shares. The current post claimed that Burry bet against NVIDIA early in the AI rally and misjudged Tesla's corporate value. It also pointed out that his forecast for a further downturn in the US housing market was incorrect.

The post's author acknowledged that Burry accurately predicted the 2008 financial crisis. However, they argued that he has repeatedly made mistakes in subsequent market forecasts, stating, "A pattern is a pattern." Burry is one of Wall Street's most watched investors, attracting attention from investors whenever he discloses his portfolio and engages in social media activity.

Burry recently warned that the Philadelphia Semiconductor Index is trading at an unusually high level compared to its 200-day moving average. He also criticized the funding structure supporting artificial intelligence infrastructure investments. Last week, he disclosed new bearish positions against Tesla, NVIDIA, and the iShares PHLX SOX Semiconductor Sector Index Fund (SOXX).

Burry argued that the valuations of semiconductor companies have reached historically excessive levels. He also warned that the AI rally resembles past periods of extreme market overheating. Amid ongoing debate over the sustainability of the semiconductor stock AI rally, Burry directly denied the claim that his previous forecasts were wrong.

[Key Article Summary]

-Michael Burry refuted claims that his outlooks on NVIDIA, Tesla, and the US housing market were all wrong, stating, "None of it is true."

-Burry warned that the Philadelphia Semiconductor Index is at an unusually high level compared to its 200-day moving average.

-Burry recently disclosed bearish positions against Tesla, NVIDIA, and SOXX, continuing his argument about the overheating AI rally.

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