Michael Burry, who became a household name after his winning bet against mortgages was featured in “The Big Short,” issued a series of tweets on Thursday (June 17) warning individual investors about losses “the size of countries” in the event of crypto and meme-stock declines.

“All hype/speculation is doing is drawing in retail before the mother of all crashes,” Burry wrote on Twitter before the posts were deleted. “When crypto falls from trillions, or meme stocks fall from tens of billions, #MainStreet losses will approach the size of countries. History ain’t changed.”

Burry, head of Scion Asset Management, is closely followed by the meme-stock crowd. He took a bullish stance on video-game retailer GameStop Corp. in 2019, which helped lay the foundations for an epic retail-investor frenzy earlier this year. His views have switched this year though, to warnings about dangers in the market.

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