Michael Burry Warns Record S&P 500 Highs May Be Masking Broader Market Weakness

Michael Burry warns that record S&P 500 highs may be masking broader market weakness, with 32% of stocks trading more than 10% below their highs and just 64 reaching new records as of Oct. 6.
He has previously shorted $NVDA, $MU, $NBIS and $CRWV, but has since shifted most bearish exposure into Nasdaq-100 and semiconductor ETF puts, while retaining puts on $PLTR and $ORCL.
Burry believes stretched valuations, AI infrastructure debt and rising inflation could trigger a prolonged bear market, potentially resulting in 15-20 years of weak inflation-adjusted returns.