Michael Burry spoke at UCLA several months ago. The video of Michael Burry’s 12 minute speech made waves around the internet. A transcript of the speech has just been located. Burry spoke about Europe (sounds similar to today). Below is a brief excerpt followed by the full transcript in scribd:
Of late, Europe’s convulsions are in the news. Even this should not be surprising. Back in 2006, when a bunch of us shorted Portugal, Italy, Greece, and Spain, we called them the PIGS for a reason. I can explain it in one sentence: When the entitled elect themselves, the party accelerates, and the brutal hangover is inevitable. Californians, and indeed all Americans, ought to take note.
When a liquidity crisis struck China's Evergrande Group in the summer of 2021, it shook the global markets. Debt payments by China's second-largest property developer by sales were estimated in the hundreds of billions of dollars, and the company missed several payments. Those missed payments led to downgrades by international ratings agencies, but the Chinese Read More
Michael Burry 2012UCLACommencement Transcription Web by ValueWalk.com