Michael Burry Warns of Stock Crash as Tech Jump Echoes 2000 Peak

Michael Burry, the investor made famous in The Big Short, is warning that the Nasdaq 100 Index is headed toward a dramatic reversal after a “parabolic” surge that has driven technology valuations to unsustainable heights.

In a post on Substack, Burry said the market resembles the peak of the dot-com bubble just before it burst, citing in particular the steep jump in chip stocks that has pushed up the Philadelphia Stock Exchange Semiconductor Index by nearly 70% since the end of March.

Michael Burry

Photographer: Astrid Stawiarz/Getty Images

He said the Nasdaq 100, by his reckoning, is trading at 43 times earnings — ...