Michael Burry, the ‘Big Short’, wagered $1.6 billion on a stock market meltdown.

Michael Burry, the "Big Short" investor famous for correctly forecasting the 2008 housing market collapse,

According to Securities and Exchange Commission records made public on Monday, Burry is betting against the S&P 500 and the Nasdaq 100. 

 Scion Asset Management, Burry's fund, purchased $866 million in put options (the right to sell an asset at a specific price)

According to the documents, Burry is betting on a market fall with more than 90% of his portfolio.

However, Burry's stock recommendations appear to have oscillated between optimistic and bearish this year.

 He sent a mysterious message to his 1.4 million followers in January. "Sell," he said.

 But by the end of March, he had changed his mind. He admitted, "I was wrong to say sell."

Burry became well-known in the mid-2000s for betting against the housing market and profiting handsomely from the subprime loan crisis

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