The AI boom has catapulted tech stocks to historic highs, with many trading at punchy valuations. They're even more expensive than they appear, Michael Burry says. The investor of "The Big Short" fame explained why he thinks this in a detailed Substack post this week, which he said was the product of weeks spent reviewing more than 1,000 annual reports from Nasdaq 100 companies going back a decade. Burry's central claim is that companies, and the Wall Street analysts who cover them, don't