While Michael Burry's prediction of a 1987-style crash is unrealistic, the modern market structure and speed of information flow make sudden air pocket events of 7-12% single-day declines more probable than in the past.

17:05>> I don't remember if I put this in my book or not, but I'm 98% sure that I'm not making this up. I read this somewhere. He used uh He used a chart from 1929 and overlaid it with what was happening in 1987. >> Which is kind of hilarious cuz people have been saying that for the last 15 years. >> type of thing that we literally laugh

17:21at. >> Um >> Yes. >> I suppose it worked for him that one time. >> Right. Okay. So, here's here's where I'm going to say like I kind of agree with Michael Burry in some ways. I don't think we're going to see a 1987 crash, and I think trying to predict one of those is just absolutely ridiculous. But, I do think that the way the market is structured now and with the speed at

17:45which things move, a an air pocket situation is way a much higher probability event than it was in the past. And that to me, that's like a down seven, down eight, down 10, or down 12% day if something really bad happens. >> We had We had that a million times >> the pandemic. And also during liberation day. Didn't we have We had 10% down days, I believe, in the

18:09>> had We had back-to-back 5% down days. But, I'm just saying that type of like that's the that's where I actually agree with him is that when this thing does top out, it I'm guessing it will be swift. And it will be fast. And that's the part that I agree with him. Not that it's going to be a 1987 route. >> I don't know that I agree with you. It

18:27That could happen. But, why would you say that's going to happen? Because I think there needs to be an event >> saying it's going I'm I'm saying it's a higher probability event now than it was in the past because of the speed at which the market re-prices and the speed at which information moves today. >> Could be. Um >> I mean, listen, this guy he he keeps trying to