Astrid Stawiarz/Getty Images
- Michael Burry tweeted about the collapse of Silicon Valley Bank again.
- This time the ‘Big Short’ investor took aim at ESG fund managers exposed to the fallen bank.
- The Scion Asset Management chief suggested the moves were “lazy shortcuts” in a now-deleted tweet.
Michael Burry delivered a critique of ESG fund managers caught up in collapse of Silicon Valley Bank (SVB) on Twitter Tuesday.
“My hope is that the human race will reverse direction, away from impatient, lazy shortcuts always and everywhere,” Burry said in a now-deleted tweet on Tuesday, attaching a screenshot of a Bloomberg article on ESG funds taking losses from exposure to the fallen bank.
ESG investors were drawn to SVB over its lending to renewable energy companies, but many may have overlooked governance risks at the firm. Hundreds of funds registered as either declaring ESG as their “objective” or “promoting” it were exposed, per Bloomberg.
Burry, the legendary investor famous for betting against the US housing market in the run-up to the 2008 financial crisis, is known for his bearish forecasts on the markets and the economy.
The tweet comes a day after Burry dismissed concerns of financial turmoil from SVB as well, adding that the fiasco will “resolve very quickly.”
“I’m not seeing true danger here,” Burry said in another deleted tweet on Monday.