Michael Burry is not a believer: ‘For any stocks going parabolic reduce positions almost entirely’

 Michael Burry urged investors to scale back exposure to surging technology stocks, saying the current market environment has reached historically dangerous extremes reminiscent of prior speculative bubbles.

The famed investor, best known for predicting the 2008 housing collapse, said investors should “reject greed” as enthusiasm around artificial intelligence and momentum-driven trades pushes valuations sharply higher.

“An easier way for most is to simply reduce exposure to stocks, to tech stocks in particular. For any stocks going parabolic reduce positions almost entirely,” Burry wrote in a Sunday Substack post.

Burry has been warning for months that the stock market’s AI fixation increasingly resembles the final stages of the dot-com bubble. Last week, he compared the recent trajectory of the Philadelphia Semiconductor Index (SOX) to the run-up that preceded the collapse of technology stocks in March 2000, saying the current environment feels like “the last months of the 1999-2000 bubble.”

Burry said he is maintaining “a significant leveraged short position” against a portfolio of companies he views as depressed and cheap, a similar strategy he employed in 2000.

However, Burry warned that directly betting against the rally through short selling is risky and impractical for most investors, particularly as bearish trades have become increasingly expensive.

“Shorting is not the answer. It is not something most people should ever do,” he said. “Right now it is expensive, in general, to buy put options and directly shorting stocks can still cause significant pain.”

The comments add to a growing debate on Wall Street over whether the AI-driven rally in U.S. equities has become detached from fundamentals. Major stock indexes have repeatedly hit record highs despite the ongoing war in the Middle East as investors pile into semiconductor makers and megacap companies.

“The idea is to raise cash, and prepare to put it to work when it makes more sense to do so,” Burry wrote. “History tells us that even if the party goes on for another week, month, three months or year, the resolution will be to much lower prices.”

https://www.cnbc.com/2026/05/11/michael-burry-is-not-a-believer-for-any-stocks-going-parabolic-reduce-positions-almost-entirely.html

Extortion Using Smart Glasses Is a Thing Now

There’s a growing number of reasons to be skeptical about camera-equipped smart glasses, and you can now add extortion to that list. According to a report from the BBC, a woman who asked not to be named was recently filmed covertly while shopping in London by a man wearing smart glasses. That interaction was later posted to social media, where it racked up tens of thousands of views.


That story, unfortunately, isn’t a new phenomenon. As other investigations have noted, smart glasses like the Ray-Ban Meta AI glasses are used regularly by men—specifically men—to record women discreetly for content purposes. What makes this particular case reported by the BBC worse is that the man in question allegedly asked for money in exchange for taking the video down, claiming that removal was a “paid service.”

According to the BBC, the video was eventually taken down after being reported for violating TikTok’s rules on harassment and bullying, and the man’s account was banned. The footage was, however, later reposted to a different social media site. The BBC reached out to the person who filmed the interaction, who, of course, denies trying to extort anyone, and the police—who were reportedly contacted—say they don’t have enough information to launch an investigation.© Raymond Wong / Gizmodo

In a nutshell, this is exactly the type of thing that has people up in arms about smart glasses as a category. While recording people discreetly can be done with a phone, holding a glass slab in front of someone’s face is a lot more likely to be clocked. The fact that the woman in this incident didn’t know she was being filmed at all should tell you a lot, since it means the privacy light (and LED that lights up when you record) on the smart glasses being used was obscured or not visible enough to catch her attention.


For now, it remains to be seen whether makers of smart glasses have a real solution for preventing spying outside of shipping smart glasses that don’t have cameras for photography or video recording. Wherever there’s a camera, there’s going to be someone pointing it at something they shouldn’t.

https://gizmodo.com/extortion-using-smart-glasses-is-a-thing-now-2000755562

FDA Warns of New Blood Cancers With Sarcoma, Lymphoma Drug

 The FDA on Monday alerted clinicians about the risk of new primary hematologic malignancies in patients treated with tazemetostat (Tazverik, Ipsen), a sarcoma and lymphoma drug now being pulled from global markets.

The risk was known when the EZH2 inhibitor was granted accelerated approvals in 2020, with an incidence of 1.7%. But new data from the SYMPHONY-1 trial found a rate approaching 6% over a median treatment duration of 15.8 months.

"It was determined that the risks of treatment with Tazverik outweigh its benefits," the FDA said.

Of the 318 follicular lymphoma patients in the randomized study -- evaluating lenalidomide (Revlimid) and rituximab with or without tazemetostat -- 18 patients (5.7%) developed a second hematologic malignancy in the tazemetostat arm versus none in the control arm. Three died and the new malignancies remain unresolved for 14 patients.

Most of the cases were myelodysplastic syndromes (MDS) or acute myeloid leukemia, while others included B-cell acute lymphoblastic leukemia and clonal cytopenia of undetermined significance.

"Treatment-emergent acute leukemias and MDS are serious and life-threatening disorders that are not expected to be reversible," the FDA stated.

Trial participants had been taking the drug for 1 to 3 years, and the new malignancies started as early as 7.5 months after beginning tazemetostat, while some occurred after treatment cessation.

Drugmaker Ipsen announced the U.S. and global withdrawal of tazemetostat in March based on the emerging safety concern. An independent data monitoring committee recommended that all trial participants discontinue tazemetostat immediately, but SYMPHONY-1 will remain open for long-term safety follow-up. Ipsen has discontinued all other active trials of the EZH2 inhibitor and any expanded access programs.

Tazemetostat originally received accelerated approvals from the FDA for metastatic or locally advanced epithelioid sarcoma and for previously treated follicular lymphoma in patients with an EZH2 mutation. As always, drugs approved under the pathway are subject to confirmation of clinical benefit.

https://www.medpagetoday.com/hematologyoncology/othercancers/121222

These States Are Watching for Potential Hantavirus Cases

 

Some people who may have been exposed to a hantavirus that can transmit from human to human returned to the U.S. before the outbreak aboard a cruise ship was known.

This includes seven Americans who disembarked the ship on the remote island of St. Helena on April 24. MedPage Today broke that story last week.

It also includes at least nine Americans who were on the same plane from St. Helena to Johannesburg as the widow of the first cruise ship passenger who died. That woman was symptomatic during the flight, and died not long after landing in South Africa.

State health officials have contacted these people and have advised them to quarantine as best they can, with home monitoring and daily symptom and fever checks. According to CDC's interim guidance, they are all high risk, as they were either on the ship as of April 6, when the first patient died, or were seated close to the symptomatic passenger on the plane.

They've been asked to delay nonessential medical care, skip travel plans, and work from home.

There are also 18 passengers from the ship who were recently repatriated; 16 of them are at the University of Nebraska Medical Center in Omaha, while two were flown to a biocontainment unit at Emory University in Atlanta after one developed symptoms. That person has since tested negative for the disease. The other person was their partner.

Of the 16 people who remain in Nebraska, one tested positive for the virus. That person was an oncologist who helped manage sick passengers on board after the ship's doctor became sick. He is now in the facility's biocontainment unit, where he remains asymptomatic.

The other 15 passengers are in Nebraska's quarantine unit, where they will be assessed, and eventually they will have the choice about where to quarantine -- either at the facility or at home, if it's determined that can be done safely.

Unfortunately, the quarantine period is 42 days, which is thought to be the upper limit of the incubation period for the Andes virus, the strain of hantavirus involved in the outbreak. That can seem like a long time to spend in a quarantine facility, but it does guarantee access to the nation's top experts in outbreak response and treatment.

"If I was exposed to this and I had the option to stay in a quarantine unit proximate to that care, I would definitely take that, because you're putting yourself in a position, if you were to turn positive, to take advantage of all those things that will give you the best chance of survival," said Michael Wadman, MD, an emergency physician and medical director of Nebraska's quarantine unit.

Here's where patients are being monitored:

Arizona: one passenger

California: one passenger; one air travel

Georgia: four passengers

Kansas: three air travel

Maryland: two air travel

Minnesota: one air travel

New Jersey: two air travel

Nebraska: 16 passengers; one tested positive

Texas: two passengers

Virginia: one passenger

https://www.medpagetoday.com/infectiousdisease/publichealth/121244

'AP: NYU Hospital Subpoenaed Over Gender-Affirming Care in Minors'

 A New York hospital system says it received a grand jury subpoena from federal prosecutors in Texas seeking information about children who received gender-affirming care and the medical providers who administered it.

NYU Langone is the first hospital system to publicly acknowledge receiving a subpoena for such records as part of a federal criminal investigation. But the institution said in its statement Tuesday it was one of several that received a subpoena out of the Northern District of Texas on May 7. It said it was deciding on how to respond.

NYU Langone Health includes seven inpatient facilities and more than 300 locations in the New York City area and Florida. The hospital system said prosecutors want information on patients under 18 who received gender-affirming care from 2020 to 2026, as well as the names of the providers.

It is the latest move in the Trump administration's efforts to block care for transgender youths. NYU Langone had already announced earlier this year that it was ending such treatment for transgender kids amid funding threats from the federal government.

Last July, the Justice Department sent more than 20 civil subpoenas to doctors and clinics that provide gender care to minors, saying it was investigating "healthcare fraud, false statements, and more." Then-Attorney General Pam Bondi said the Justice Department was holding accountable "medical professionals and organizations that mutilated children in the service of a warped ideology."

A federal judge in the Northern District of Texas recently sided with the Justice Department that Rhode Island Hospital in Providence must comply with one of those subpoenas, seeking records surrounding gender-affirming care provided to children.

The NYU Langone subpoena came up several times Tuesday during a federal court hearing in Providence on those records. An attorney for the Justice Department declined to disclose when exactly the grand jury had convened, saying that they could only speak to what had been publicly reported.

U.S. District Judge Mary McElroy then ordered the Justice Department to provide the attorneys in the Rhode Island case with the affidavit related to the grand jury because it was now public.

Since the Justice Department issued the civil subpoenas last year, court documents show that at least seven federal courts have agreed to quash or limit the expansive subpoenas, which demanded that providers hand over the birth dates, Social Security numbers, and addresses of patients who received transgender care.

As doctors and hospitals grapple with those subpoenas, 11 families this week filed a class-action lawsuit seeking to block the Justice Department from obtaining the documents. The lawsuit, filed in Maryland's federal court, is backed by families who have transgender children who have received care from hospitals across the U.S.

The Justice Department said Tuesday that it does not comment on grand jury investigations.

NYU Langone and the U.S. attorney's office for the Northern District of Texas did not immediately return messages seeking comment Tuesday.

LGBTQ+ groups condemned the latest federal requests for gender care information.

"We will not allow anti-trans extremists to turn our hospitals into hunting grounds," Tyler Hack, executive director of the transgender rights group the Christopher Street Project in New York, said in a statement. "Playing political games to weaponize Americans' private healthcare information is not just an attack on trans people -- it is an attack on every single American who benefits from basic patient-provider privacy."

https://www.medpagetoday.com/washington-watch/washington-watch/121241

Gaza board said to seek to enact plan in parts of strip

 The Gaza Peace Board wants to start carrying out the process of establishing a new rule of Gaza in parts of the strip not controlled by Hamas, Barak Ravid of Israel's Channel 12 and Axios reported on Wednesday.

According to an organization official and two other people familiar with the matter, the board decided to implement what was described as Plan B after Hamas failed to hand over its heavy weaponry, despite that being mentioned as one of the terms of the ceasefire with Israel. Hamas was reported as refusing to give up its arms until Israel honors some of its truce commitments. Thus, the board opted to implement US President Donald Trump's 20-point plan where possible.

A source added that the US told Israel that it disagrees that the resumption of the armed conflict in Gaza would contribute to the negotiations.

https://breakingthenews.net/Article/Gaza-board-said-to-seek-to-enact-plan-in-parts-of-strip/66289364

'ICE may be at World Cup matches in U.S.'

Federal officers and agents who arrest immigrants as part of their work with ICE may be at FIFA World Cup matches when the international tournament gets underway in the U.S. next month, according to two Department of Homeland Security officials.

The agency is offering its personnel to local police departments and federal agencies to provide extra security around the perimeters of games, similar to Homeland Security’s role at the Super Bowl and the Kentucky Derby, the officials said.



So far, it’s unclear whether any departments or agencies are taking ICE up on the offer. But ICE officers and agents providing security won’t be checking spectators or employees for immigration status, the officials said.

“Our agents and officers are going to provide security when asked, but they will not be screening people for immigration status,” one of the officials said, adding that whether the ICE officers wear uniforms would depend on each location.

A spokesperson for DHS said in a statement that the department “will work with our local and federal partners to secure 2026 FIFA World Cup — in line with federal law the U.S. Constitution — as we do with every major sporting event, while showcasing American greatness to the entire world.”

The DHS spokesperson said international visitors legally in the U.S. for the games “have nothing to worry about.”

"What makes someone a target for immigration enforcement is whether or not they are illegally in the U.S. — full stop,” the spokesperson said.

Still, visitors coming for games from other countries should work on travel plans and documents ahead of time for smoother travel, the spokesperson said.
But ICE personnel haven’t been expressly prohibited from making arrests at World Cup matches, the officials said.

No guidance has gone out inside the agency instructing ICE officers engaged in immigration enforcement to steer clear of World Cup stadiums, they said.

FIFA didn’t immediately respond to a request for comment.

FIFA is staging its largest-ever World Cup in North America, with 48 soccer teams playing in 16 cities across the U.S., Canada and Mexico. The tournament runs from June 11 through July 19; the opener is in Mexico City, and the final is July 19 at MetLife Stadium in East Rutherford, New Jersey. Hundreds of thousands of people are expected to attend the games.

The presence of ICE could make some spectators avoid the games. Earlier this year, ICE personnel patrolled security lines at airports amid a shortage of TSA workers during the government shutdown of DHS.

Their presence raised criticism from immigration advocacy and civil liberties organizations, who argued that ICE would intimidate travelers who feared they would be targeted for arrest.

ICE agents were also stationed outside graduation events this year for the nation’s newest Marines at the Marine Corps Recruit Depot Parris Island in Beaufort County, South Carolina. While the agents didn’t make arrests, some recruits graduated without their parents in attendance over immigration fears.

Those fears follow a yearlong immigration crackdown by the Trump administration to make good on President Donald Trump’s campaign promise of mass deportations.

Newly installed Homeland Security Secretary Markwayne Mullin has pushed to rebrand the agency, focusing instead on its arrests of violent criminals and its humanitarian mission, even referring to it as “NICE."

https://www.nbcnews.com/sports/soccer/ice-may-world-cup-matches-us-rcna344797