UPDATE: Dr. Mike Burry, I-Bond Web-Site Crash and Wall Street

By Staff Reporters

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“The Big Short” celebrity investor and colleague Michael Burry MD recently disclosed that he is short Apple stock. Could he be right about AAPL dipping even further from here? Famous hedge fund manager Michael Burry, the real-life character in “The Big Short”, became famous for his short position on subprime CDOs ahead of the 2008 crash. This time, he is shorting Apple stock. The bombshell news has come recently via a 13F filing released by Burry’s hedge fund.

CITE: https://www.r2library.com/Resource/Title/082610254

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People searching for a respite from inflation have flooded the Treasury Department phone lines and website to try to buy Series I savings bonds, causing much longer waits than usual. It’s the latest example of outdated government computer systems causing anguish for Americans. On May 2nd, the Treasury Department announced that the inflation-protected I bonds will earn 9.62 percent interest at least until the end of October. A day later, TreasuryDirect, the website that people have to use to purchase the bonds, crashed.

Finally, Wall Street rumbled to the edge of a bear market after another drop for stocks briefly sent the S&P 500 more than 20% below its peak set early this year. The S&P 500 index, which sits at the heart of most workers’ 401(k) accounts, was down as much as 2.3% for the day before a furious comeback in the final hour of trading sent it to a tiny gain of less than 0.1%. It finished 18.7% below its record, set on January 3rd. The tumultuous trading capped a seventh straight losing week, its longest such streak since the dot-com bubble was deflating in 2001.

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