Big Bet movie investor warns stock markets bubble - The investor of the film 'The big Bet' returns to Twitter to warn of the biggest bubble in history in the stock markets.

Michael Burry, the investor who was taken to the big screen in the film The Big Bet, has warned on Tuesday about the largest bubble in history in the stock market and has done so after 10 weeks in which he has been outside the social network Twitter. In this time, his concern about rampant speculation has only grown, he explained.

"People always ask me what's going on in the markets," tweeted the investor, embodied in the film by Christian Bale, before specifying the reason for his concern: "The largest speculative bubble of all time in all things." For Burry, investors are being too greedy, speculating wildly, taking too many risks and pursuing unrealistic returns.

Big Bet movie investor warns stock markets bubble

The founder and director of private investment firm Scion Asset Management removed his Twitter profile in early April after sounding the alarm about Tesla's shares, which he valued downwards. He also did the same with GameStop, bitcoin, dogecoin, Robinhood or the SPAC —companies that are created specifically to raise capital through an ipo and whose objective is the acquisition of other companies—, while warning about the situation of inflation and the stock market in general.

Burry is known in the united States and the world markets for its stake of about 1,000 million (approximately 825 million euros) against the u.s. housing bubble, which led to the crisis of 2008, which was immortalized in the book and movie namesake. He also helped lay the groundwork for GameStop's return this year by investing in the video game company in 2019 and writing several letters to its shareholders ' meeting.

Big Bet movie investor warns stock markets bubble

The investor has repeatedly complained that his warnings were ignored. In fact, she has on her Twitter profile the name of Cassandra, in reference to the priestess in Greek mythology who was cursed by the gods for sharing prophecies that were later fulfilled.

In one of his latest tweets, the investor echoed other warnings and compared the hype around bitcoin, evs and memes stocks to the real estate and dotcom bubbles, as tycoon Warren Buffett's "favorite indicator" recently pointed out. According to Burry, the stock market is " dancing on the razor's edge." Will his prophecies be fulfilled?

Big Bet movie investor warns stock markets bubble

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100% digital banking does not yet exist: online banks, fintech and neobanks depend on physical ATMs to reach the entire population

Online banks, neobanks and fintechs have crept into our lives as an alternative to traditional banking, offering customers a 100% digital relationship in exchange for no commissions. Consequently, most of them operate without branches or have some representation, which a priori is not a problem because you can make all the arrangements from the app or the web, but the thing gets complicated if we talk about taking out cash.

Digital natives argue that cash is a thing of the past. In fact, in 2020 cash withdrawals at ATMs fell by 31%. More and more is being paid by card and even with Bizum-type payment solutions, which already exceeds 16 million customers.

But as long as physical money continues to exist, these entities and the cashiers are obliged to live together. However, there are some online banks that have it easier because they are the result of large Spanish banks.

Thus, Openbank makes available to its customers all the atms of Banco Santander (about 7,500) so that they can withdraw cash without commissions. It even has a representative branch in Madrid where you can carry out this same operation, it also has Openbank Corner.

Imagin does the same and offers the entire Caixabank ATM network so that its customers can withdraw money for free. The case of EVO Banco is different, although its parent bank is Bankinter, it does not only offer its ATMs to customers.

They have a network of 18,000 ATMs where they can withdraw money free of charge with no minimum amount and no withdrawal limit. Specifically because EVO has agreements with Euro 6000, Cajamar, Caja Rural or atms Euro Automatic Cash and Euronet, among others.

But if your customers want to use another ATM in Spain that is not in the agreement, the only requirement for not paying commission is to withdraw at least 200 euros. Something similar happens with ING, the oldest online entity in Spain has its own ATMs and these are free for its customers.

But it also has agreements with the ATM network Euro Automatic Cash, Banca March, Euronet and Cashzone. However, it charges commission to its customers if they take less than 50 euros in a Bankia ATM. And in the rest of entities that are not within these agreements, the withdrawal has to be at least 200 euros or more so that there is no commission.

The scenario is very different if we talk about neobanks or fintech. Unlike the previous ones, they have neither been born under the backing of a big bank nor want to be like them, in fact, they consider themselves the main threat of traditional banking. Their structure is simpler because they do not have branches and have fewer employees, that is, the costs are lower. And they also have the technology that big banks now need.

But since they do not have their own network of ATMs, they offer quite a few limitations when it comes to withdrawing cash. The German bank N26, which has a million customers in Spain, offers different types of accounts and in all allows you to withdraw money from any ATM, however, there is a cap.

The Standard and Business account allows 3 free withdrawals per month; N26 You and Business You, 5, and N26 Metal and Business Metal, 8. Each additional cash withdrawal has a commission of 2 euros.

In the same vein, Revolut, originally from the United Kingdom, and with more than 650,000 users in Spain, allows you to withdraw up to 200 euros a month for free at any ATM, but from there, it charges a commission of 2% for each withdrawal regardless of the amount.

While the Spanish fintech Bnext returns the commission for withdrawing money at the cashier the first three times of each month. I mean, he collects it and then he returns it. From the fourth withdrawal, it also charges commission.

The main advantage of these entities is that they allow you to make card payments in any foreign country without commission and cash withdrawals do not have to be only in Spain, they can be made in any atm in the world.

# Big Bet movie investor warns stock markets bubble #