Michael Burry’s Warning for the 2024 Stock Market Crash
The US job market is turning around. This usually coincides with the start of a recession.
3 min readNov 22, 2023
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On May 19, 2005, Michael Burry, foreseeing the impending housing crisis, bought $60 million in credit default swaps from Deutsche Bank, targeting six different bonds at $10 million each.
His conviction stemmed from observing the gradual deterioration of the U.S. mortgage-backed security market, which he saw as increasingly treacherous due to rampant greed and corruption.
Burry’s approach was meticulously researched, not mere speculation.
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