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Michael Burry says the market today feels like 'the last months of the 1999-2000 bubble'

CNBC·Yun Li·24 days ago
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Michael Burry attends "The Big Short" New York screening Ziegfeld Theater on Nov. 23, 2015 in New York City. Astrid Stawiarz | Getty Images Michael Burry of "Big Short" fame is warning that the stock market's fixation on artificial intelligence is beginning to resemble the final stages of the dot-com bubble. "Absolutely non-stop AI. Nobody is talking about anything else all day," Burry wrote Friday in a Substack post after listening to financial television and radio coverage during a long drive. The investor, best known for predicting the U.S. housing crash, said stocks are no longer reacting meaningfully to economic data such as jobs reports or consumer sentiment in a logical way. The S&P 500 rose to a fresh record high Friday as traders focused on a slightly better-than-expected  April's jobs report rather than a record low reading in consumer sentiment. "Stocks are not up or down because of jobs or consumer sentiment," Burry wrote.…

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