Trading Post 8/6/2026 Two Shorts, 3 Earnings Reports with 1 Add & 2 Holds
Michael Burry
· Cassandra Unchained
· August 06, 2026 at 17:04
· ⏱ 1 min read
| Read on Substack ↗
Summary
The article argues that companies have gorged on off-balance-sheet liabilities—backstops, uncommenced leases, purchase commitments—and are now dangerously overleveraged and 'easy to shoot.' The author says he shorted two stocks today but does not name them in the provided text, so the immediate actionable takeaway is thesis-level rather than ticker-specific.
•The author shorted two stocks on 2026-08-06 because his work wouldn't let him continue without doing so, but the provided text names no tickers.
•He cites 'uncommenced leases, some as long at 11 years, at 18x the company's entire sales' as an 'inconvenient truth.'
•The affected companies are described as having 'gorged themselves on off-balance sheet liabilities' including backstops, uncommenced leases, and purchase commitments.
•He is writing Part IV of the Heretic's Guide and claims these obligations are being 'excused in the present as simply future growth, misinterpreted.'