Cassandra Unchained
Cassandra Unchained is now Dr. Michael Burry’s sole focus as he gives you a front row seat to his analytical efforts and projections for stocks, markets, and bubbles, often with an eye to history and its remarkably timeless patterns.
- Top in Finance
- #3
- Paid leaderboard
- #2
- Subscribers
- 341K
- Paid subscribers
- 10,000+ paid
- Badge
- Bestseller 10k
- Followers
- 400K
- Paid plan
- $49/mo
- Recommends
- 5
rounded by Substack
other newsletters
What they write about
Michael Burry's own market analysis, published as frequent short Trading Post notes alongside longer essays. Covers company filings and valuation work on individual stocks, currency and macro themes, and reflections on past trades and investing patience. Much of the detailed material sits behind a paywall.
- value investing
- company filings
- valuation
- macro
- currencies
Recent examples: Abridged Version Foundations: Performance in the Next Bear Market & the Caldera Under S. Park & Wall · Foundations: Performance in the Next Bear Market & the Caldera Under S. Park & Wall
Written from Cassandra Unchained’s own published post titles and openings in Sep 11, 2026. It describes the subjects the newsletter covers, not its views, and is not investment advice.
Most-mentioned tickers
Symbols named in the headline of a post from the last 30 days, most-covered first. The number is how many of those posts mentioned it.
Read from 1 post headline in the last 30 days. A newsletter that names a company only in the body of a post will not appear here, and a mention is not a recommendation — it only means the symbol came up.
Growth history
Subscribers (thousands, nightly)
332K on Sep 10, 2026 → 341K on Oct 20, 2026
Followers (thousands, nightly)
Rank in Substack’s finance leaderboard: #3 today · #3 a week ago · #4 a month ago
Stats worth sharing
Tracked since Sep 10, 2026 — 41 daily snapshots so far. The card below is built from what we track and refreshes nightly.
- Percentile
- Top 1%
- Best rank seen
- #3
- Rank, 30 days
- +1 place
- Subscribers added
- +9.0K
- Followers added
- +13K
- Posts
- 14
- Reactions per post
- 320
- Reactions tracked
- 9.6K
- Tickers covered
- 5
of 525 ranked finance newsletters
on Oct 20, 2026
since tracking began
since tracking began
last 30 days
average, recent posts
across 30 posts
in tracked posts
Most-reacted post we have seen: Short Thoughts - Cassandra in Flames? — 527 reactions on Sep 3, 2026.
Recent posts
- Abridged Version Foundations: Performance in the Next Bear Market & the Caldera Under S. Park & Wall
This morning, I present an abridged version of the article below. The Abridged version keeps the essence and much of the visual content, each of which requires study for full understanding. Brought from over 6000 words down to under 1500, a lot of context is unavoidably lost, so I still recommend reading the full article. With that said, let’s get started with the Abridged version of this Foundations piece. Recently, on October 6 th , the S&P 500 closed at a record high that looks no different than the high on June 2, 2026, or the one on August 13, 2026. Below, see the red arrows. Vanilla…
- Foundations: Performance in the Next Bear Market & the Caldera Under S. Park & Wall
I hope you enjoyed last week’s Short Thoughts piece, The AI Cloud Oligopoly, Stages of Grief & a Flashing Bear Market Indicator . The article got a better response than I expected, so I figured while I was on the tail of that particular beast, I would continue to hunt it down. The first thing was to collect and stitch together decades of data. I have to say, I am impressed by the folks at Siblis Research . Siblis’s data service was above and beyond, even over the weekend, multiple times. A first-rate operation. By the way, I am paying them, they are not paying me. Now, on October 6, the S&P…
- Siloam Health - Health Care for Those in Need
For the month of October 2026 , the Cassandra Unchained Charity of the Month is Siloam Health , a non-profit, donor-supported medical clinic that primarily serves the uninsured, working poor and newly arrived immigrants and refugees who do not quality for traditional government assistance. I have personally vetted this charity, and I know it well. Siloam relies largely on donations to run their operation. Patients pay only what they can afford and are accepted after a careful screening process. Please consider donating today. The Problem Tennessee did not buy into the Obamacare Medicaid…
- Fannie Mae, Freddie Mac, Hong Kong stocks Value Stocks late in a Bull Market, and Consolidating a Big Short
This week I was mostly busy writing, and I encourage everyone to read the post I put out on Wednesday, Short Thoughts: The AI Cloud Oligopoly, Stages of Grief & a Flashing Bear Market Indicator, subtitled Other Peoples’ Money, Market Breadth & Market Structure, The Difference This Time I’m always chasing a certain standard I am seeking to establish here. Thank you all for your feedback. I am continually trying to get better at this. Consider subscribing to Cassandra Unchained for Feature Articles, Short Thoughts, Trading Posts, the Best Chat on Substack featuring impromptu AMA sessions, and a…
- Short Thoughts: The AI Cloud Oligopoly, Stages of Grief & a Flashing Bear Market Indicator
I have recently considered that the tech giants, but for Apple, are spending as if their lives depended on it when their lives clearly do not. Monopolies almost by definition need not spend wildly as if their lives depended on it. This deserved no small further contemplation, although rather quickly it dawned on me that they expect this just to be another monopoly rent they collect, that they collectively have the expectation the government will tolerate their oligopoly on AI . Nay, will tolerate and fear it. Subscribe to receive full access to feature posts, Short Thoughts, Trading Posts…
- Trading Post October 5, 2026
The fourth quarter is tax loss harvesting season. This time of the year I try to beat the rush, which arrives near the end of October and peaks in the first week of December. This brings extra pressure on stocks that are down a lot, potentially creating real opportunities but also presenting a challenge for those holding the securities. Subscribe to receive feature articles, Trading Posts, Hystory Ryhmes, Foundations articles, and the best, most topical, civil Chat on Substack. Watch for our new portfolio review feature, Portpourri! Tax-loss Harvesting In my portfolio, six stocks stand out as…
- Don’t Believe Your Lyin’ Eyes, GPU Depreciation & Useful Lives
Welcome to the second in the History Rhymes series, where I use the past to illustrate the present and maybe even illuminate the future. Subscribe to access full feature length articles, Trading Posts, Short Thoughts, History Rhymes pieces like this one, and the best Chat on Substack, soon to get a big facelift. For reasons unknown, the most valuable company in the world is on the road promoting itself. On September 27 th , as part of a larger investor presentation, Nvidia threw up a slide designed to answer critics who still might suggest Nvidia’s chips are depreciating quickly. Critics such…
- Trading Post September 28, 2026
Today I was busy repositioning the portfolio in light of weekend research that not only uncovered but informed. Fundamentally, I am moving timelines up.
- Short Thoughts: A Wall Street Titan Hands Us Part V.5 of Our Heretic’s Guide to AI’s Stars
Parts IV and V of the Heretic’s Guide are leading into a Part VI that focuses on the financing web. I am working on that now, but this is need to know now information, so here it is.
- Abridged - Capital Cycle IQ & Forensic Files on the Big 5 Hyperscalers (MSFT, AMZN, ORCL, META, GOOG)
[I trimmed and restated the 9200 word original article down to about 1750 words for this Abridged version. This version contains slightly different, more directly stated prose and retains some of the visuals. An Abridged version accompanies every major feature article but is no substitute. The Abridged version is provided at the request of a significant portion of readership. I hope this version is clear for those that requested it. I will say in cutting 4 of every 5 words, most of the personality and some arguments are necessarily missing. As a result, I highly recommend reading the main…
- Capital Cycle IQ & Forensic Files on the Big 5 Hyperscalers
To receive new articles, short thoughts, trading posts, and access to the best chat on Substack, consider becoming a free or paid subscriber. Where are we in the capital cycle ? Every investor should know about this, even if it is not folded into one’s analysis of stocks or other investments. The capital cycle explains a tremendous amount about the biggest moves in asset prices over the last 3 decades. Value investing has been abandoned almost wholesale by the market, they say. This is not your father’s market, they say. But it really is. We are just smack dab in the middle of the capital…
- The Next Big Deadly Fire Nightmare is Being Incubated Right Now by the State of California
The City’s Own Report Demonstrates People Could Die. The City, Fearing the State, Approved the Project Anyway. We Sued. The petition: saratogacred.org Never Forget On November 8, 2018, the Camp Fire overran Paradise, California. At its peak, the fire consumed the equivalent of one football field every second. Eighty-five people died, some in their cars, trapped in the gridlock created by poor escape routes. There were just too few roads out of town while the fire moved faster than traffic. In addition to the 85 people who horrifically lost their lives, nearly 19,000 homes and structures…
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Data: Substack public leaderboards and publication archives, refreshed nightly, plus public beehiiv sitemaps and recommendation pages, refreshed weekly. Source for this page: Cassandra Unchained. Subscriber counts are Substack’s own rounded public figures, so week-on-week changes move in steps. beehiiv audience sizes are self-reported by the publisher and are not verified. Last snapshot: Oct 20, 2026.