As of March 2026, Michael Burry had not directly tackled the overvaluation of the market itself in his writing.

True: Burry's public writing up to 2026-03-03 (his Substack, posts on X and other published commentary) contains no piece whose main subject is the valuation of the overall stock market as a whole, as opposed to individual stocks or sectors such as AI or hyperscalers. Mostly true: he had made only passing or brief remarks about overall market valuation, with no dedicated analysis. Mixed: he had published material that partly addressed whole-market overvaluation, but not as a sustained or direct treatment. Mostly false: he had published at least one substantial piece arguing that the overall market was overvalued, but framed it through other themes. False: before 2026-03-03 he had published one or more pieces that directly and mainly argued the overall market itself was overvalued.

Set before the research began.

1. E1 Foundations: U.S. Market Structure & Value Michael Burry Substack · 3 March 2026 Own record

   “Additionally, I used the average Shiller cyclically adjusted PE ratio (CAPE) from 1900 (purple dotted line) and from 1990 (orange dotted line) to chart the Dow Jones as if it were at one average constant PE ratio the entire time.”

2. E2 Michael Burry Warns Market Is A 'Coiled Spring' Primed For Violent Crash Yahoo Finance · 15 March 2026

   “In his Substack analysis, the investor argues that the market has become entirely "unmoored from historic valuation measures."”

3. E3 Big Short legend Michael Burry breaks silence after 2 years, warns another massive bubble is here The Economic Times · 4 November 2025

   “even calling the “greatest speculative bubble of all time in all things” back in 2021, reported Business Insider.”

4. E4 Big Short legend Michael Burry breaks silence after 2 years, warns another massive bubble is here The Economic Times · 4 November 2025

   “Burry’s post suggests he sees dangerous levels of speculation in today’s markets, particularly around artificial intelligence, and that sitting out might be the smartest move”

5. E5 Big Short legend Michael Burry breaks silence after 2 years, warns another massive bubble is here The Economic Times · 4 November 2025

   “He appears to be warning about excessive speculation in the artificial intelligence sector.”

E2 is Burry's own 2026-03-03 Substack post, which charts the Dow against average CAPE ratios. It does not establish what his earlier writing contained. Independent coverage (E4, E5, E6) records a broad 2021 'speculative bubble' remark and describes his late-2025 warnings as focused mainly on AI speculation. This is consistent with only passing whole-market comments, but does not positively show there was no earlier dedicated piece. E3 postdates the claim and describes his Substack market-valuation argument without addressing his prior writing, so the claim rests mainly on Burry's own statement.