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Michael Burry Thinks We May Be About Halfway Through Market Fall

The New York Stock Exchange (NYSE) in New York.

The New York Stock Exchange (NYSE) in New York.

Photographer: Michael Nagle/Bloomberg

Michael Burry, the founder of Scion Asset Management who was made famous by Christian Bale in the movie “The Big Short,” said on Twitter that the first half declines in equity markets this year were “multiple compression” and following this will be earnings compression.

Burry recently warned that the Federal Reserve may need to reverse itself on rates and QT.