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IT'S A BUBBLE: the anti-bubble Portfolio, what it's built around, and how to follow it
What IT'S A BUBBLE, an Autopilot Portfolio built around a post-euphoria decline, is designed for, and why it lags in rising markets.
I'm Chris, one of the co-founders of Autopilot. This is one of ours, so I'm going to be extra careful with it.
IT'S A BUBBLE is a Portfolio built for one scenario: the market falling hard after a long run up. If that scenario doesn't show up, it's built to lag. Both halves matter.
One thing first, because we're an SEC-registered investment adviser and I have to say it. Autopilot is the app. The actual investment advice comes from Autopilot Advisers, LLC. If you want the full legal version of anything in here, it's on our disclaimer page.
1) What it is
IT'S A BUBBLE is created and managed by Autopilot Advisers, LLC. It's an Autopilot Portfolio, not a third-party Pilot's.
Its description calls it Burry-style, meaning it's built in the contrarian spirit people associate with Michael Burry, the investor famous for betting against housing before 2008. Burry has nothing to do with it. He doesn't manage it, and he isn't affiliated with Autopilot.
2) How it's built
The description lays out the construction. Fifteen assets, equal weight, built around the idea of a decline after a stretch of market euphoria.
It's modeled on the 2007 to 2008 financial crisis. The description says it blends the kinds of holdings that held up in that period with what it calls modern hedges.
I don't reprint holdings on these pages, because they change and this page doesn't. What it holds on any given day is in the app, with a date on it.
3) The part people get wrong
For those unaware, a Portfolio built for a crash is a bet on timing. And timing is the hardest thing in investing.
If the market keeps rising, this Portfolio will likely trail it, sometimes badly. That isn't a flaw. It's the price of holding something built for a different outcome. People who position for a crash and then get frustrated when it doesn't come usually sell at exactly the wrong moment.
I want to be honest with you. Nobody knows when a bubble pops, including us. Some people have been calling this one for years.
4) Who it might fit
Somebody who wants a small hedge against a sharp decline and understands they're paying for it in the good years.
It's probably not a core holding for anybody. The equal weight across 15 assets also means each position carries real weight in the result.
5) Other Portfolios built around downturns
There are several, and they're built very differently. One uses inverse funds, one uses an AI model with macro data, one leans on consumer staples. They're compared in Is there an app that invests defensively for me?.
6) How following works
Pick the Portfolio, connect the brokerage you already use, and allocate money. You give Autopilot Advisers limited authority to send orders to the account you already have. When the Portfolio changes, we send them and your broker fills them. The money stays put.
A flat cash subscription, not a percentage of your balance. Per our Form CRS dated February 2026, Basic Tier has no Base Advisory and Licensing Fee, and Premium Tier is $29.99 to $199.99 a quarter or $99.99 to $699.99 a year. Pilot subscriptions are separate and add on for each Pilot you subscribe to. Because it's a flat dollar amount, it's a bigger share of a small account than a big one, so do the math at your balance.
TLDR: IT'S A BUBBLE is an Autopilot Portfolio of 15 equal-weight assets built around a post-euphoria decline and modeled on 2007 to 2008. It's a bet on a scenario, and when that scenario doesn't happen, expect it to lag. Size it like a hedge, not a core holding.
Frequently asked questions
IT'S A BUBBLE portfolio
An Autopilot Portfolio, created and managed by Autopilot Advisers, built around a sharp market decline after a period of euphoria. It holds 15 equal-weight assets modeled on the 2007 to 2008 financial crisis. In a rising market, expect it to lag.
IT'S A BUBBLE portfolio Autopilot
It's one of Autopilot's own Portfolios, managed by Autopilot Advisers, LLC. Its description calls it Burry-style, but Michael Burry has no involvement with it or with Autopilot.
How do I follow the IT'S A BUBBLE portfolio in my brokerage account?
Pick it in the app, connect your brokerage, and allocate money. When the Portfolio changes, Autopilot Advisers sends the orders and your broker fills them. Size it as a hedge, not as a core position.
Since Autopilot Advisers is an SEC-registered investment adviser, we have to put disclaimers on stuff like this. They're below, and the full version is on our disclaimer page.
Disclosures
© Autopilot Holdings Corporation 2026 — All rights reserved. “Autopilot” refers to Autopilot Holdings Corporation and its wholly-owned, and separately managed subsidiaries, including Autopilot Advisers, LLC, an SEC-registered investment adviser. All investing is subject to investment risks, including possible loss of the principal invested, and past performance is not indicative of future results. View our Customer Relationship Summary and other important information at joinautopilot.com/disclaimer.
This information is provided by Autopilot for educational and illustrative purposes only and is not a recommendation, an offer to sell or the solicitation to buy any security. Autopilot relies on information from various sources believed to be reliable, including information from Clients, Pilots and other third parties, but cannot guarantee the accuracy or completeness of that information. Autopilot does not provide tax or legal advice and you are encouraged to consult with professionals before making investment decisions.
Autopilot is not affiliated with, sponsored, or endorsed by the companies listed, described, or featured on its site. Company logos or trademarks used do not imply endorsement and are the property of their respective owners.
Investing involves risk, including the possible loss of principal. Past performance does not guarantee future results. You should carefully consider your investment objectives, risk tolerance, and time horizon before investing through Autopilot.
Autopilot Advisers, LLC is an SEC-registered investment adviser. Registration as an investment adviser does not imply a certain level of skill or training. Additional information about Autopilot is available in our Form ADV Part 2A, available at adviserinfo.sec.gov or joinautopilot.com/adv.
Autopilot provides limited investment advisory services focused on Portfolio selection and suitability assessment. Our services are not intended to replace comprehensive financial planning. We recommend consulting with a qualified financial advisor regarding your complete financial situation.
This content is provided for educational and informational purposes only. It does not constitute investment, legal, or tax advice and should not be relied upon as the basis for any investment decision. You should consult with qualified professionals regarding your specific circumstances.
Autopilot does not provide tax, legal, or accounting advice. You should consult with qualified tax and legal professionals regarding your specific circumstances.
Autopilot does not hold client assets. All investments are held at the brokerage firm you select and connect to Autopilot. Your brokerage firm is responsible for trade execution, custody, and reporting. Autopilot is not responsible for your broker-dealer’s services, fees, or execution quality.
Autopilot’s services depend on technology systems, third-party APIs, and internet connectivity. System outages, API disruptions, or connectivity issues may temporarily affect service availability or trade execution timing.
Client account holdings are designed to track the Portfolio you’ve selected, but your actual holdings and performance may differ from the Portfolio due to execution timing, market conditions, brokerage capacity constraints, fractional share availability, and other factors outside Autopilot’s control.
For Portfolios inspired by publicly disclosed trading activity, there may be a delay between when a Pilot executes a trade and when that trade becomes publicly available and is incorporated into the Portfolio. This timing delay may affect the suitability or performance of trades when executed in client accounts.
IT'S A BUBBLE is created and managed by Autopilot Advisers, LLC. It is general and impersonal in nature, and Autopilot may change or close it at any time. Michael Burry is not affiliated with Autopilot, does not manage this Portfolio, and has not endorsed it. References to past market periods describe how the Portfolio was designed and are not a prediction or performance claim. Strategies built around a market decline may underperform significantly in rising markets. Fee amounts are quoted from Form CRS dated February 2026 and may change.