[Investor Michael Burry Warns Nasdaq 100 Index May Plunge Due to Overvalued Tech Stocks] According to a report by Jinse Finance on May 12, renowned investor Michael Burry warned that after a "parabolic" surge and tech stock valuations reaching unsustainable levels, the Nasdaq 100 Index faces a sharp reversal. Burry wrote on Substack that the current market situation resembles the peak before the bursting of the dot-com bubble, specifically highlighting the recent significant rise in chip stocks. Since the end of March, the Philadelphia Semiconductor Index has risen nearly 70%. He stated that, based on his calculations, the Nasdaq 100 Index currently has a price-to-earnings ratio of approximately 43 times, far exceeding the "reasonable level" of around 30 times, as "Wall Street has overestimated the earnings of the fastest-growing and most highly valued companies by 50%." Burry remarked, "We are witnessing history. In the stock market, this is usually not a good thing." He compared the current situation to "the last few minutes before a bloody car crash." However, Burry advised against shorting stocks, as the cost of put options is high and mistiming could lead to losses.