Not saying Burry is right, but seeing how much he is being laughed at and mocked right now, I bet this is pretty close to how people treated him before 2008.

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THE PRICE YOU PAY IS EVERYTHING IN INVESTING!

In August 1929, right before the crash, John Raskob (most well known financier of the time) said $15 a month in stocks would turn into $80,000 in 20 years.

Ben Graham in the Intelligent Investor showed it only reached about $8,500 by 1949 – still over 8% a year, but nowhere near the big promise.

You started when the Dow was near 300 and finished at 177.

Fast-forward to today (August 2026):
Stocks are sitting at all-time highs again – S&P 500 around 7,800 and the Dow near 54,000.

Whereas bond yields?
The 10-year Treasury is around 4.7% – a solid, attractive level compared with the last decade.

Graham’s simple lesson still fits – when stocks are this expensive and optimism is high, don’t count on the rosy forecasts going forward!

Maybe the smarter move right now is to buy some bonds while yields are decent and stocks are at the top.

FactSet data confirms the highest aggregate earnings surprise on record since 2008, driven almost entirely by paper gains at Alphabet and Amazon, while the average stock that beat got almost no reward.

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