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Veteran Investor Michael Burry Warns Nasdaq 100 Rally More Extreme Than Dot-com Bubble
Michael Burry, the renowned US hedge fund manager portrayed in "The Big Short", has issued a warning over the strong rally in technology stocks, saying that the gains of the best-p...
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Veteran Investor Michael Burry Warns Nasdaq 100 Rally More Extreme Than Dot-com Bubble
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Michael Burry, the renowned US hedge fund manager portrayed in "The Big Short", has issued a warning over the strong rally in technology stocks, saying that the gains of the best-performing stocks in the Nasdaq 100 Index have already surpassed the astonishing increases seen during the internet bubble.

He said Sandisk Corporation (SNDK.US)      has delivered staggering performance compared with historical leaders. During the late-1990s technology frenzy, QUALCOMM Incorporated (QCOM.US)      once recorded a rolling 52-week return of as much as 2,620%, while Sandisk Corporation's share price surged an unprecedented 3,960% between May last year and May this year.

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He added that such historic strength is not limited to a single stock, arguing that the current rally in technology shares is even more extreme than in the late 1990s. In 1999, the top 10 best-performing stocks in the Nasdaq 100 Index posted an average return of 559%. By comparison, the top 10 performers over the past year delivered an average gain of as high as 784%. (mn/a)(Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)

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