Michael Burry, Is Banking on , the Stock Market Crashing.br CNN reports that Michael Burry became br famous when he correctly predicted br the collapse of the housing market in 2008.br Now, Burry has bet over $1.6 billion br on an upcoming Wall Street crash.br According to Security Exchange Commission br (SEC) filings, Burry has placed his bet on br both the S&P 500 and the Nasdaq 100. .br According to Security Exchange Commission br (SEC) filings, Burry has placed his bet on br both the S&P 500 and the Nasdaq 100. .br His fund, Scion Asset Management, br purchased $866 million in putbr options against the S&P 500. .br The fund also put $739 million in br put options against the Nasdaq 100.br CNN reports that both the S&P and the Nasdaqbr have experienced a good year, being up br almost 16 and 38, respectively.br Back in 2008, Burry raked in profits after br correctly predicting the subprime lending br crisis and the collapse of major financial entities.br His experience was later chronicled br in Michael Lewis' bestseller 'The Big Short: br Inside the Doomsday Machine.".br The book was later adapted into br a film starring Christian Bale as Burry.br CNN reports that Burry has also br sold off his holdings in both regional br banks and Chinese companies.