Breaking: Michael Burry said "it feels like the last months of the 1999-2000 bubble"
The last time the Knicks were in the NBA Finals, the Nasdaq peaked 9 months later and fell 78%
History is rhyming hard right now:
1999:
• Knicks are in the NBA Finals
• Nasdaq up 84% that year
• Tech was 33% of the S&P 500
• CAPE ratio hit 40x
• Margin debt at record highs
• Hedge funds had 31% of portfolios in tech
2026:
• Knicks are in the NBA Finals
• Nasdaq up 31% in 12 months
• Tech is 32% of the S&P 500
• CAPE ratio at 40x
• Margin debt at record highs
• Hedge funds have 33% of portfolios in Big Tech