Michael Burry
· Cassandra Unchained
· July 02, 2026 at 20:53
| Read on Substack ↗
Summary
Michael Burry reveals he shorted one unnamed stock (already declined) and added to five unnamed positions, signaling a contrarian bearish bet on a specific company and continued conviction in his existing longs. The closing line 'This time may be different, but not nearly different enough' suggests he sees the current market cycle as repeating past excesses that will end in a correction.
•Burry shorted one stock that was already down significantly, implying he expects further declines.
•He added to five existing positions, indicating he is doubling down on those bets.
•His comment 'This time may be different, but not nearly different enough' reflects skepticism that recent market resilience changes the long-term pattern of overvaluation and eventual downside.