'Big Short' investor Michael Burry warns stocks are long overdue for a crash — and 'fragile' markets could worsen it

Michael Burry of "The Big Short" fame said markets have become "more fragile."

Jim Spellman/Getty Images; Tyler Le/BI

• Pricey US stocks are long overdue for a painful correction, Michael Burry wrote on his Substack.
• He warned that a return to historical valuations would require the S&P 500 to be cut in half.
• The "Big Short" investor said the index-fund and buyback booms have supported stocks but may falter.

US stocks could suffer a devastating crash as the forces propping them up falter...