Michael Burry adds to beaten-down stocks while warning of echoes of dot-com bubble

Michael Burry added to several beaten-down positions while doubling down on his warning that the market's artificial intelligence boom is creating the kind of distortions last seen during the dot-com era. The investor, best known for predicting the housing crash and later profiled in The Big Short , disclosed fresh purchases in companies he sees as overlooked as investor enthusiasm instead pours into AI-related trades. Burry said he added to Latin American e-commerce giant MercadoLibre in the mid-$1,500 range, describing it as a "clean long-term winner" trading at a discount because of its international exposure. He also boosted positions in software maker Adobe , payments company PayPal and animal-health company Zoetis , while building a full-sized stake in athletic apparel retailer Lululemon . "These stocks are part of the mass whale fall happening away from the main spectacle," Burry said in a Monday evening Substack post. "In 1999 this happened too. The old economy and international stuff just got ditched in favor of the All-American bubble." The latest moves come as Burry has grown increasingly vocal about what he sees as speculative excesses tied to artificial intelligence. In recent weeks, the high-profile investor warned that the current market environment feels like "the last months of the 1999-2000 bubble ," drawing comparisons to the final stages of the dot-com era. …