‘Big Short’ Investor Michael Burry’s Equity Bets Reap Rewards As S&P 500, Nasdaq Plunge

Renowned investor Michael Burry’s earlier bets against the S&P 500 and Nasdaq have hit the mark as the two indices suffer a sharp sell-off.

What Happened: Burry, whose accurate bets against subprime mortgages were famously depicted in “The Big Short,” witnessed his predictions come true on Friday when the S&P 500 entered correction territory. This follows a similar downturn by the Nasdaq earlier in the week, reported Business Insider.