Speculation has reached its all-time high in a century. Asset valuations are drastically excessive, so assures the famous investor who predicted the subprime crisis in 2007, Michael Burry.

The owner of the Scion Asset Management fund recently expressed concern when he saw how inflation in company valuations is outpacing the dot-com bubble. “More speculation than in the 1920s,” he said, referring to the Crack of 29. “More overvaluation than in the 1990s,” he said, as recorded Insider.

Rivian’s $ 100 billion IPO is a prime example

The electric truck manufacturer Rivian began trading this Wednesday on the Nasdaq, leading to the largest IPO in the US since Facebook’s stock market debut in 2012. It should be noted that it is a startup that It has only manufactured 156 vehicles and generates practically no income.

In fact, Rivian expects revenue of between zero and one million dollars in the third quarter, and its losses could reach 1.28 billion dollars, as it warned the Securities and Exchange Commission (SEC) of the United States. Despite this, the company was established in a market capitalization of more than 100 billion after going public.

Some data that does not go unnoticed by Burry, whose story was reflected in the book ‘The great bet’ and in the film of the same name, who shared on Twitter a publication about Rivian de The Wall Street Journal.

Real wages in the US have fallen and rising prices hit the poor badly

For Burry, US wage growth has lagged this past year with inflation. In addition, the famous investor stresses that rising prices are disproportionately affecting the poor. “Real wages, adjusted for inflation, are down 2.2% since January 1”, he pointed.

On the other hand, Burry has set his sights on Elon Musk’s recent sale of Tesla shares. The investor explained that the CEO of the electric vehicle giant could be selling shares to cover his personal debts. He also put on the table the possibility that the company’s shares plunge up to 90%.

The Big Short Investor Michael Burry Reveals He’s No Longer Betting Against Tesla

Buffett, Musk, Dorsey or Burry are some of the big names in the business fabric that warn of serious inflation