Investors love to look at past market crashes to see if there are similarities to today. Michael Burry, the fund manager who bet against the housing market in 2008, recently wrote in his newsletter that statistically, this market reminds him of 2000, meaning investors should dump their megacap "Magnificent Seven" stocks and load up on market laggards. Does that mean you should sell the Magnificent Seven? Well, it is a bit more complicated than that. Here's what Burry said, the data that backs up his views, and what smart investors worried about a stock market crash should do. Burry writes in-depth statistical analyses in his stock market newsletter and has been hammering home his view that the stock market today is reminiscent of the 2000 dot-com bubble, with internet stocks replaced by artificial intelligence (AI) winners. In the fallout from the 2000 bubble, the winners of the past few years collapsed in price, triggering a massive bear market in stocks, while the "old economy" losers soared.
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