The investor who predicted the 2008 mortgage crisis compares the current reality with the dot-com crisis and the crash of 29

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Michael Burry, an American investor known for having predicted the 2008 mortgage crisis, compared the current situation in financial markets to the dot-com bubble and the speculative frenzy prior to the Great Depression.

In a series of tweets cited by BusinessInsider and that have been erased, the hedge fund manager Scion Asset Management posted the screenshot of an old stock market chart of Financialweb.com, a no longer existing company that, along with many other services on the Web, saw the value of its shares plummet during the crisis at the beginning of this millennium.

“A very common chart back then. It looks vaguely familiar,” wrote the $ 100 million personal earner. generated more than 700 million in profits for its clients in the 2008 ‘subprime’ crisis.

The investment manager also compared the bull market of the 15 years prior to 2000 with the growth of the markets in the last three decades. Thus, a 94% similarity in the behavior of the index stood out Nasdaq 100 in both periods, and 95% in that of S&P 500.

The expert drew a parallel between the growing number of people trading in ‘meme’ options, such as AMC Entertainment’s, and the massive speculations that preceded the 1929 crash on Wall Street. He cited statistical researcher Leroy Peavey, who in November of that year blamed a wave of leveraged speculations which involved “elevators, typists and even schoolchildren.”

AMC Entertainment, GameStop and other companies saw their value inflate dozens of times this year as their shares were the object of purchase coordinated by a collective of retail investors on a Reddit sub-forum. These stock manipulations caused billions of dollars in losses to various hedge funds.

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