“Michael, if he had one failing in the dot-com cycle, it was being early to the process. The housing bubble? It was being early to the process,” said Michael Green, a former hedge-fund manager who is now chief strategist at the active-ETF manager Simplify Asset Management and who, like Burry, has warned against popular trends—in his case, passive investing. “This is a significant issue, right? How quickly does this end?”

Source: Wall Street Journal December 28, 2025 10:00 UTC