- Michael Burry warned that market 'silliness is back' in a recent tweet.
- The 'Big Short' investor compared the current situation to the stock market crashes of 1929 and 2008.
- "Familiar COVID-era silliness is not dead yet," Burry said.
Markets are starting to behave irrationally again, according to Michael Burry.
The investor and hedge fund manager warned of a rise in 'silliness' after the S&P 500 rallied 8.6% to bounce back from a 2022 low.
"The silliness is back," Burry said in a now-deleted Tweet. "After 1929, after 1968, after 2000, after 2008, the strain of silliness that transformed bulls into bubbles completely and utterly disappeared."
"But that familiar COVID-era silliness is not dead yet," he added.
Burry is best known for his betting against the mid-2000s housing bubble, as depicted in Michael Lewis's book "The Big Short". Christian Bale subsequently portrayed him in a film adaptation.
Burry also inadvertently fueled the meme-stock frenzy by purchasing a stake in GameStop, placed high-profile wagers against Elon Musk's Tesla and Cathie Wood's Ark Innovation ETF last year, and has tweeted numerous times that the pandemic-era surge in asset prices would culminate in a historic crash.