Michael Burry Warns of 1987-Type Crash as S&P 500 Hits Record High
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On Aug 4, 2026 Michael Burry warned US stocks may be near a major top and susceptible to a 1987‑type crash even as the S&P 500 closed at a record 7,736.52 and the Nasdaq at 26,584.99. He reiterated short positions in SOXX, Micron, Nvidia, Tesla, Palantir, Caterpillar and Applied Materials (Nvidia the only losing short), cautioned that AI infrastructure demand may rely on unsustainable financing with Nvidia earnings due Aug 26, and said the equity risk could spill over to crypto, DeFi, token fundraising and broader adoption.
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In Brief
- Michael Burry says a 1987-type market crash remains possible near current highs.
- The S&P 500 closed at a record Tuesday while the Nasdaq soared 2.7%.
- Burry holds shorts on Nvidia, Tesla, Palantir, Micron, Caterpillar, and chip ETFs.
Michael Burry warned that US stocks may be near a major top and could suffer a 1987-type crash, even as the S&P 500 posted its first record close since June on Tuesday.
The investor, known for predicting the 2008 housing collapse, made the call in a Tuesday Substack post titled “Trading Post August 4, 2026 My Options.” He confirmed he still holds short positions against Nvidia, Tesla, Palantir, and other AI-linked names.
‘Big Short’ Investor Michael Burry Warns of 1987-Type Crash
The S&P 500 gained 1.79% to close at 7,736.52 on Tuesday, while the Nasdaq Composite climbed 2.59% to a record high of 26,584.99. Equities advanced as upbeat corporate earnings and lower oil prices lifted sentiment, with crude retreating on expectations that the Strait of Hormuz could reopen.
Nonetheless, Burry believes demand for AI infrastructure depends on financing that may prove unsustainable. This latest forecast comes days after his June 30 bubble warning.
He also added that fresh highs tend to pull new money into stocks while falling volatility forces systematic funds to add leverage.
“I continue to believe it is possible we are near a major top, and possible a 1987-type fall, but the S&P 500 making new highs likely will bring new money into the market,” Burry wrote in the post, reported by CNBC.
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Nvidia Remains His Only Losing Short
Burry said he continues to short the iShares Semiconductor ETF (SOXX), Micron, Nvidia, Caterpillar, Palantir, Tesla, and Applied Materials. Every position remains profitable except his bet against Nvidia.
That losing trade faces a fresh test soon. Nvidia reports earnings on August 26, and nearly every analyst forecast for Nvidia still rates the stock a buy.
Burry added that he would cut losses if the trades moved decisively against him. Whether new money keeps flowing in or volatility snaps back may decide how his 1987 comparison ages.
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