Michael Burry — who issued a dire warning to investors by simply tweeting the word "Sell" in January — just admitted he was wrong.
The "Big Short" investor, who is the founder of Scion Asset Management, spooked the market with his one-word tweet on January 31. At the time, it was read as a signal to investors that they shouldn't be fooled by a rebound in stocks and should not buy into the market gains.
But Burry walked that statement back, tweeting Thursday that he "was wrong to say sell." The tweet had been viewed 6.7 million times since it was posted.
"Going back to the 1920s, there has been no BTFD generation like you. Congratulations," he tweeted on Thursday, referring to the phrase "buy the f****** dip."
It's unclear if Burry was being sarcastic in his latest tweets. The investor has repeatedly sounded the alarm on euphoria in markets, and warned buyers of meme stocks and cryptocurrencies they faced the "mother of all crashes." Burry's Scion Asset Management didn't respond to a request for comment from Insider.
Burry's about-turn came after the tech-focused Nasdaq 100 entered a technical bull market for the first time in nearly three years on Wednesday, after the index closed 20% higher from a December 28 low.