Michael Burry of "The Big Short" fame.
Jim Spellman/Getty Images; Tyler Le/BI
Warren Buffett is so influential that his words can move markets, a rare phenomenon known as the "Buffett effect."Now that Michael Burry is sharing what he's buying and selling in almost real time, a "Burry effect" might exist, too. If enough people are copying his trades, that could be shifting stock prices.Burry doesn't think that's a thing. "I do not believe there is a Burry effect," he told Business Insider by email.But the investor of "The Big Short" fame, who has pivoted from running a hedge fund to writing almost daily about his personal investments on Substack, might be selling himself short.He ranks second in Substack's "Bestsellers in Finance," and has nearly 2 million followers on X. That's more than Buffett, although the billionaire investor and Berkshire Hathaway chairman hasn't posted in the past decade.The "Burry effect" may have been on display this week. Burry said in a Substack post on Thursday that he'd shorted Micron the previous day. That followed the revelation in a Tuesday post that he'd placed fresh bets against Nvidia, Applied Materials, Caterpillar, Tesla, and the iShares Semiconductor ETF (SOXX) — which tracks an index containing Nvidia, Applied Materials, Micron, and other microchip stocks.Burry, who shot to fame after his contrarian bet against the mid-2000s housing bubble was featured in the book and movie "The Big Short," described the SOXX as a "pure form of overvaluation" in his earlier post.
