Michael Burry
· Cassandra Unchained
· August 29, 2026 at 18:50
· ⏱ 2 min read
| Read on Substack ↗
Summary
The newsletter is an autobiographical preamble to a Build-A-Bear case study, arguing that the author's investing framework was shaped by Peter Lynch's 'invest in what you know,' William O'Neil's IBD charts, and the four horsemen of investing books from the late 1980s-early 1990s. The only market signal in Part 1 is that long positions in unnamed 'certain stocks' may be the best response to a major market top and prolonged bear market. No specific security or trade is disclosed yet, so this installment has no actionable market angle; the actionable Build-A-Bear thesis presumably comes in later parts.
•Peter Lynch's One Up on Wall Street ranks #4 on Amazon's Kindle Store Stock Market Investing category, ahead of Benjamin Graham's The Intelligent Investor at #5.
•William J. O'Neil's How to Make Money in Stocks ranks #9 on Amazon's Stock Market Investing bestsellers list and was the first investing book the author read front to back.
•The author recently re-subscribed to Investor's Business Daily for the first time in nearly 35 years; IBD's charts and valuation metrics were his introduction to stock markets.
•The article sets up a narrative scene where taking long positions in 'certain stocks' — with no shorts, no puts, and nothing else — is the best response to a major market top and prolonged bear market.