"Stocks are not up or down because of jobs or consumer sentiment," Burry wrote. "Feeling like the last months of the 1999-2000 bubble."

"Stocks are not up or down because of jobs or consumer sentiment," Burry wrote. "Feeling like the last months of the 1999-2000 bubble."

Michael Burry said investors should "reject greed" as enthusiasm around artificial intelligence and momentum-driven trades pushes valuations sharply higher.