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Michael Burry should have retired after ‘The Big Short’ and should stop tweeting alarming market-crash warnings, finance professor Aswath Damodaran says

  • NYU’s Aswath Damodaran said Michael Burry should “stop talking” and avoid tweeting bearish forecasts.
  • The professor said Burry should have retired after successfully predicting the 2008 housing crash.
  • Damodaran said there are people who think deeply about markets, but Burry “is not one of them.”
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Dr. Michael Burry should have retired after successfully betting against the US housing market in the mid-2000’s and being the center of the book and movie “The Big Short,” Aswath Damodaran said.

In an interview with Moneycontrol published last

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Biden’s big business crackdown bad for Wall Street behemoths: sources

President Biden’s big business crackdown could be bad news for Wall Street titans like Ken Griffin — assuming the controversial effort ever makes it off the ground.

On Tuesday, it was reported that President Biden is quietly working on an executive order intended to take on big business and create more competition.

The controversial order, which Biden could sign as soon as next week, would seek to bypass traditional antitrust enforcement actions by directing regulators to rethink their rules for how their respective industries, from airlines to internet providers, operate, according to the Wall Street Journal.

For the financial services

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Household net worth climbs to $136.9 trillion, thanks to big stock market gains

U.S. dollars are counted by a at a bank in Westminster, Colorado.

Rick Wilking | Reuters

The net worth of U.S. households climbed to new heights as 2021 began and the effects of the Covid-19 pandemic began to fade.

Thanks largely to a surge in the stock market, the total balance sheet for households and nonprofits rose to $136.9 trillion in the first quarter, a 3.8% gain from the end of 2020, according to Federal Reserve data released Thursday

Of that total, $3.2 trillion came from equity holdings, while $1 trillion was due to the continued escalation in real estate

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Automatic Student Loan Forgiveness Could Be A Big Win For Borrowers

While there are many different schools of thought when it comes to the best ways to finance higher education, most experts would agree our current reliance on student loans is simply unsustainable. After all, more than 45 million American borrowers currently owe a collective $1.7 trillion dollars on student loans at last count. That means the average student borrower owes $37,693 on their loans, and obviously millions of borrowers owe significantly more than that.

The federal government has created several different programs that can help borrowers pay back their loans faster, or have some of their balances forgiven. Their solutions

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A big jobs report looms in the week ahead, as markets enter the often-weak month of June

A trader works on the floor of the New York Stock Exchange.

NYSE

May’s employment report is the big event in the week ahead, as stocks enter the often weak month of June. Stocks are finishing May with a mixed performance. Big cap indexes like the S&P 500 and Dow notched gains. The S&P rose a half percent, and the Dow rose 1.9%. The small cap Russell 2000 was flat, up 0.1%, and the tech-heavy Nasdaq declined 1.5%.

June is not historically a strong month for stocks. Bespoke Investment Group points out that over the past 50 years, the Dow

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As Meme Stock Mania Fizzles, Wall Street Sees ‘Big Reckoning’

The day-trading Reddit crowd turned the first quarter of 2021 into one of the wildest periods of stock market mania in modern history. Books — plural — will undoubtedly be dedicated to the topic in years to come.

But after these small-time speculators banded together to drive up dozens of obscure stocks by hundreds or even thousands of percent — and in the process burned a few hedge-fund barons betting on declines — the movement appears to be petering out. An index that tracks 37 of the most popular meme stocks — 37 of the 50 that Robinhood Markets banned

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Wall Street beware: the SEC’s Gensler carries a big stick

The last time Gary Gensler ran an American financial regulator, he was charged with cleaning up the mess left by the 2008 crash. Now the new chair of the US Securities and Exchange Commission faces a rather different task: policing volatile and frothy markets that may be hiding all kinds of misbehaviour.

Frenzied dealmaking and trading, cheap financing and hybrid working have created a perfect storm of opportunities for fraudsters. The pressure is on Gensler and his enforcement chief Alex Oh to clamp down and deflate any bubbles before they burst.

They take over an SEC that is struggling with

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Big Tech’s surging growth stuns Wall Street

After the world’s largest tech companies enjoyed a boom during the coronavirus pandemic, the expectation was that life would gradually return to normal.

It certainly is not turning out that way.

Big Tech this week reported a surge in growth and profits that stunned Wall Street, delivering powerful evidence that the digital dependence forced on a large part of the world’s population over the past year could have an enduring effect.

The outsized figures amount to a reset in the business world, some tech investors and analysts said. According to this view, the leading digital powers have consolidated their gains

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