Article Image

IPFS News Link • General Opinion

Michael Burry Compares Current Banking Turmoil to Panic of 1907 -- Highlights Markets Bottoming

• by Kevin Helms

 He noted that three weeks after J.P. Morgan made a stand, the panic was resolved and the markets bottomed. "A stand was made this past weekend," the famous investor pointed out.

Michael Burry on Bank Failures, Panic of 1907, Markets Bottoming

Famous investor and founder of investment firm Scion Asset Management, Michael Burry, has compared the current financial turmoil, following the collapse of multiple banks, to the Panic of 1907. Burry is best known for being the first investor to foresee and profit from the U.S. subprime mortgage crisis that occurred between 2007 and 2010. He is profiled in "The Big Short," a book by Michael Lewis about the mortgage crisis, which was made into a movie starring Christian Bale.

1 Comments in Response to

Comment by PureTrust
Entered on:

Is he really trying to tell us that we have 22 or 23 years before the GREAT GRAND DEPRESSION hits? Whew. I always need more time to prepare.