(Bloomberg) — Michael Burry said he amassed a “significant” bearish wager that’s performing well as riskier assets tumble and warned of an exodus from passive investments as the coronavirus pandemic batters the global economy.The California-based money manager, who shot to fame after betting against mortgage securities before the 2008 financial crisis, said recent market turmoil may burst the “bubble” in passive investing that he’s been warning about since August. Burry said central bank stimulus, which underpinned an 11-year bull market in large-cap stocks, can’t do much to help during a pandemic.“I have had a significant bearish market bet that is …read more
Source:: Yahoo Finance
