Michael Burry hit back at President Donald Trump after the US leader jeered at short sellers on Monday.
Speaking at a White House luncheon to mark the launch of Trump Accounts, Trump hailed the "hottest stock market in history" and pondered aloud whether anyone wasn't enjoying the ride.
"I guess you have a couple of guys that went short, those poor bastards," he said. "I mean, they're in big trouble. They're being wiped out."
"I never like short guys because they're betting against the country," Trump added.
Burry — the investor of "The Big Short" fame who's known for betting against stocks such as Tesla, Nvidia, and Palantir — fired back in a since-deleted X post.
"Donald Trump could not in a million years understand or make his way through any of my substack essays," Burry wrote. "But he can shoot from the hip and make money for him and his cronies better than anyone."
Burry, who has pivoted from running a hedge fund to writing about his personal investments on Substack, was likely referring to Trump's recent disclosure that he made more than $2 billion last year, in part by trading assets such as stocks and cryptocurrencies.
The investor — who shot to fame after his massive bet against the mid-2000s housing bubble was immortalized in the book and movie "The Big Short" — defended short sellers in a later post as well.
"The biggest mistake shorts make is believing people are smarter than they are," he wrote.
The biggest mistake shorts make is believing people are smarter than they are.
— Cassandra Unchained (@michaeljburry) July 7, 2026Burry walked through how he approaches shorting in a Substack post last month. He emphasized that it's a high-risk practice, the upside is limited, and losses can mount quickly.
"Shorting is a world filled with slippery slopes and sand castles," he wrote. "The sand castles are real, and vulnerable, but the slippery slopes drive men insane and ultimately prevent most from being properly positioned when the castle is washed away."
Burry said that his portfolio is "mostly long most of the time." He conserves more cash as valuations get rich, then focuses on finding bargains when markets become even more stretched.
"As I deploy into serially whacked undervalued stocks, I also begin to short the market through puts on indices as well as stocks most sensitive to the prevailing mania's fulcrum points," he wrote.
This is how most people misunderstand bears. They forget that I used the internet from its inception, launched my business from a web site in 1996, was one of the early Amazon resellers, and still called out the internet bubble publicly and shorted Amazon. Most people think in… https://t.co/4lcoiLZoP1
— Cassandra Unchained (@michaeljburry) July 6, 2026Stocks have soared to record highs this year, driven by immense buzz around AI. Burry has been one of the biggest doubters of the boom, saying tech companies are overinvesting in AI infrastructure, and valuations of chipmakers and other companies riding the AI wave have reached unsustainable highs.
Short sellers have gotten a bad rap in recent years as party poopers who bet on stocks to fall and market rallies to reverse. But they can make markets more efficient by uncovering fraudulent practices, countering overoptimism with skepticism, and pouring cold water on hype and speculative excess.
Burry and the White House did not immediately respond to requests for comment from Business Insider.
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Theron Mohamed is a London-based correspondent on the Trending team at Business Insider. His coverage spans finance, investing, wealth, markets, and the economy.Theron joined BI in 2019 as a reporter at Markets Insider and rose to the rank of correspondent before moving to the Trending team in 2024. He previously covered tech, media, and telecom stocks for Investors Chronicle magazine and had a brief stint on the Financial Times' Data team. He interned at the Wall Street Journal in New York where he primarily wrote for Heard on the Street.Theron has freelanced for The Independent, The Telegraph, WIRED, and several smaller publications. He holds an undergraduate degree in geography from the London School of Economics, and a master's degree in journalism from Columbia University.Theron often covers Warren Buffett, Michael Burry, Jeremy Grantham and other top-flight investors. He also writes about the world's wealthiest people and shares financial advice from all manner of rich and successful people.Email Theron at [email protected] and follow him on X @theron_mohamed.Expertise
- Corporate finance
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- Business history
- US economy
- Warren Buffett and Berkshire Hathaway
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