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'Big Short' investor Michael Burry warns day traders about the dangers of blind faith

'Big Short' investor Michael Burry warns day traders about the dangers of blind faith


Photo by Kevin Mazur/WireImage



Michael Burry cautioned investors against getting too infatuated with specific stocks in a Thursday tweet.



"The Big Short" investor pointed to Iomega, a disk-drive maker that saw a spectacular rise and fall in the 1990s.



Burry likely sees parallels between Iomega's cult following and the hype around GameStop and other stocks.

Michael Burry, whose billion-dollar bet against the US housing bubble was immortalized in Michael Lewis' book "The Big Short," issued a fresh warning on Thursday to people feverishly speculating on stocks."How many current $stonck market fans lived #Iomega?" the Scion Asset Management boss asked in a now-deleted tweet. "Some of us older folk have a few 'been there, done that' badges that are fairly relevant about now."Read more: Value investor Adam Mead shares 7 key insights into Warren Buffett's Berkshire Hathaway after writing its complete financial historyThe investor linked to a cautionary tale on Substack about Iomega, a disk-drive maker that once inspired the kind of mania affecting stocks such as GameStop, AMC, and BlackBerry this week.
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