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Michael Burry

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for his remaining investors of more than $ 700 million. Scion Capital ultimately recorded returns of 489.34% (net of fees and expenses) between its November 1, 2000, inception and June 2008. The S&P 500, widely regarded as the benchmark for the US market, returned just under 3%, including dividends over the same period.
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at the end of Q2 2023. While the put options have been widely reported as being 93% of Scion's entire portfolio, this is misleading, as the $ 1.6 billion figure is based on the maximum possible value that the put options could rise to, and not the amount they were actually purchased for. Furthermore,
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During his payments toward the credit default swaps, Burry suffered an investor revolt, where some investors in his fund worried his predictions were inaccurate and demanded to withdraw their capital. Eventually, Burry's analysis proved correct: He made a personal profit of $ 100 million and a profit
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fell 11.88%. Scion was up 55%. The next year, the S&P 500 fell again, by 22.1%, and Scion was up again: 16%. The next year, 2003, the stock market finally turned around and rose 28.69%, but Burry beat it again, with returns of 50%. By the end of 2004, he was managing $ 600 million and turning
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quarterly reports filed from the 4th quarter of 2015 through the 3rd quarter of 2016, as required by the SEC when fund holdings top $ 100 million. After more than two years, on February 14, 2019, Scion Asset Management filed another 13F, showing Burry to hold numerous large-cap stocks and $
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on over 800,000 shares of Tesla. In October 2021, after a 100% rise in Tesla's stock value, he revealed he was no longer shorting it. During the second quarter of 2021, he reportedly held put options valued at almost $ 31 million on the ARKK ETF innovation index managed by
468:, and Burry believes he himself has Asperger syndrome after reading about the disorder. When he was younger, he noticed that it took him a lot of energy to look people in the eye, and said, "If I am looking at you, that's the one time I know I won't be listening to you". 373:, Burry argued that anyone who studied the financial markets carefully in 2003, 2004 and 2005 could have recognized the growing risk in the subprime markets. He faulted federal regulators for failing to listen to warnings from outside a closed circle of advisors. 423:. Burry predicted Tesla stock would collapse like the housing bubble, saying that "my last Big Short got bigger and Bigger and BIGGER" and taunted Tesla bulls to 'enjoy it while it lasts.' In May 2021, it was reported that he held 156:
manager. He founded the hedge fund Scion Capital, which he ran from 2000 until 2008 before closing it to focus on his personal investments. He is best known for being among the first investors to predict and profit from the
333:, and the bonds based on these mortgages, would begin losing value when the original rates were replaced by much higher rates, often in as little as two years after initiation. This conclusion led him to 384:. He has focused much of his attention on investing in water, gold, and farmland. He has said, "Fresh, clean water cannot be taken for granted. And it is not—water is political, and litigious." 1555: 1550: 968: 1203: 287:
After shutting down his website in November 2000, Burry started the hedge fund Scion Capital, funded by an inheritance and loans from his family. He named it after
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According to his website, Burry liquidated his credit default swap short positions by April 2008 and did not benefit from the bailouts of
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before or around early December 2020, according to a now-deleted tweet and likely added to his short positions after the market cap of
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In August 2023, it was widely reported that Burry's hedge fund, Scion Asset Management, had made a $ 1.6 billion bet on a US
115: 1159:"'Big Short' investor Michael Burry reveals he's short Tesla, tells Elon Musk to issue more stock at its 'ridiculous price'" 238:
He then left to start his own hedge fund. He had already developed a reputation as an investor by demonstrating success in
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After medical school, Burry worked as a Stanford Hospital neurology resident, then a Stanford Hospital pathology resident.
1204:"'Big Short' investor Michael Burry predicts Tesla stock will collapse like the housing bubble: 'Enjoy it while it lasts'" 872: 353: 1500: 281: 1510: 1443: 688:
The Greatest Trade Ever: The Behind-the-Scenes Story of How John Paulson Defied Wall Street and Made Financial History
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The Greatest Trade Ever: The Behind-the-Scenes Story of how John Paulson Defied Wall Street and Made Financial History
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quoted an email from Burry in which he said there was a bubble in large US company stocks due to the popularity of
297:(1990), one of his favorite novels. He quickly earned extraordinary profits for his investors. According to author 1453: 728: 250:
beginning in 1996. He was so successful with his stock picks that he attracted the interest of companies such as
276: 186: 158: 1392:"'Criminally unjust:' 'Big Short' investor who called subprime mortgage collapse slams coronavirus lockdowns" 562: 449: 400:, which "has orphaned smaller value-type securities globally". In 2020, the fund's largest investments were 1530: 1349: 1031: 973: 733: 325:
would collapse as early as 2007. His research on the values of residential real estate convinced him that
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103,528,000 13F assets under management, just above the threshold for filing. In August 2019,
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Despite not practicing, Burry has kept his license as a physician active with the
756: 484: 416: 412: 330: 197: 439:. Securities filings reportedly showed that Burry held put options on both the 360:. He subsequently liquidated his company to focus on his personal investments. 1354: 444: 440: 429: 424: 377: 302: 271: 153: 91: 1225:"Michael Burry of 'The Big Short' reveals a $ 530 million bet against Tesla" 213: 193: 1250:"'Big Short' investor Michael Burry says he is no longer short Tesla stock" 1375: 1299:"The Big Short investor Michael Burry bets $ 1.6bn on stock market crash" 757:"Mercury News Interview: Hedge fund manager saw subprime meltdown coming" 420: 405: 220:. While off duty at night, he worked on his hobby: financial investing. 496: 266:. He has said more than once that his investment style is built upon 174: 848: 1324:"No, Michael Burry Didn't Risk 93% of His Portfolio on Put Options" 364: 1116:"Michael Burry Portfolio / Scion Asset Management, LLC Holdings" 1103:
The Big Short’s Michael Burry Sees a Bubble in Passive Investing
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money away." Burry was able to achieve these returns partly by
1475: 1274:"Michael Burry of 'Big Short' Bets Against Cathie Wood's ARKK" 388: 141: 994: 144: 1005: 1003: 661:"The True Story Behind The Big Short - Real Michael Burry" 611:"The True Story Behind The Big Short - Real Michael Burry" 584:"Here's the story of one of the heroes of 'The Big Short'" 452:
is $ 237,971,170, significantly lower than $ 1.6 billion.
280:: "All my stock picking is 100% based on the concept of a 1057:"Why Is Michael Burry Investing In Water? | Investormint" 873:"Learning From Dr. Michael Burry's Investment Philosophy" 1472:, FCIC Staff Audiotape of Interview with Michael Burry 1140:"Michael Burry tweet, Dec. 1, 2020 (Internet Archive)" 387:
Glimpses were offered into Scion's portfolio from the
1481:"Scion Asset Management - Quarterly Holdings Reports" 1460:"A Primer on Scion Capital’s Subprime Mortgage Short" 262:. Burry has a strictly traditional understanding of 177:
ancestry. At the age of two he lost his left eye to
138: 460:Burry is married, with children, and was living in 135: 100: 81: 57: 28: 21: 212:, and started but did not finish his residency in 152:; born June 19, 1971) is an American investor and 1082:"EDGAR Filing Documents for 0001567619-19-004198" 1350:"Author Michael Lewis on Wall Street's Delusion" 1556:Vanderbilt University School of Medicine alumni 1417:"Where 'The Big Short's Michael Burry Is Today" 1101:Heejin Kim and Myungshin Cho (29 August 2019). 969:"Michael Burry Profiled: Bloomberg Risk Takers" 227:, including continuing education requirements. 1444:"Michael Burry: Subprime Short-Seller No. 1," 1176: 1174: 1012:"I Saw the Crisis Coming. Why Didn't the Fed?" 345:against subprime deals he saw as vulnerable. 8: 1551:University of California, Los Angeles alumni 963: 961: 120:Founding and managing Scion Asset Management 1197: 1195: 310:overvalued tech stocks at the peak of the 18: 1470:"Michael Burry’s FCIC Testimony – Audio" 990: 988: 639:. New York: Broadway Books. p. 73. 210:Vanderbilt University School of Medicine 851:Users need to fill in name of physician 722: 720: 718: 716: 714: 712: 574: 341:and other investment firms to sell him 317:In 2005, Burry started to focus on the 185:ever since. As a teenager, he attended 16:American hedge fund manager (born 1971) 508:COVID-19 pandemic in the United States 1223:Li, Yun; Kolodny, Lora (2021-05-17). 815: 813: 811: 809: 411:Burry initiated short position(s) on 301:, "in his first full year, 2001, the 202:University of California, Los Angeles 161:that occurred between 2007 and 2010. 62:University of California, Los Angeles 7: 1105:Bloomberg News, accessed 29 Aug 2019 1084:. Securities and Exchange Commission 946:"Investors Who Foresaw the Meltdown" 944:Kakutani, Michiko (March 15, 2010). 464:in 2010. His son was diagnosed with 1476:"Scion Asset Management - Homepage" 1415:Brayson, Johnny (January 5, 2016). 1202:Mohamed, Theron (January 8, 2020). 1010:Burry, Michael J. (April 3, 2010). 1182:"Michael Burry tweet, Jan 7, 2021" 218:Stanford University Medical Center 14: 1390:Stevenson, Reed (April 7, 2020). 1322:Nugent, Justin (16 August 2023). 923:Anderson, Jenny (March 9, 2007). 849:https://search.dca.ca.gov/results 582:Szramiakje, John (May 22, 2017). 502:Burry was highly critical of the 1536:People from Saratoga, California 925:"Winners amid gloom of defaults" 258:and prominent investors such as 131: 1546:Santa Teresa High School alumni 1157:Winck, Ben (December 3, 2020). 1036:Investment Adviser Firm Summary 977:. July 20, 2012. Archived from 727:Lewis, Michael (1 March 2010). 256:White Mountains Insurance Group 116:collateralized debt obligations 1526:Businesspeople from California 169:Burry was born and grew up in 1: 1369:DiVita, Joe (March 6, 2021). 1032:"Scion Asset Management, LLC" 789:"These Doctors Mean Business" 755:Carey, Pete (April 6, 2008). 246:on the stock discussion site 1506:American hedge fund managers 1456:Excerpt from "The Big Short" 376:In 2013, Burry reopened his 1454:"Betting on the Blind Side" 1254:markets.businessinsider.com 729:"Betting on the Blind Side" 685:Zuckerman, Gregory (2009). 225:Medical Board of California 1572: 1541:Physicians from California 997:, accessed March 30, 2010. 899:"Michael Burry life story" 635:Gregory Zuckerman (2009). 475:, including bands such as 404:($ 121 million value) and 242:, which he wrote about on 337:the market by persuading 408:($ 24.4 million value). 329:, especially those with 187:Santa Teresa High School 165:Early life and education 159:subprime mortgage crisis 1516:American money managers 1330:. Market Rebellion, LLC 820:Lewis, Michael (2010). 787:Whitney, Kathy (2014). 563:The Greatest Trade Ever 450:assets under management 1521:American stock traders 974:Bloomberg Businessweek 524:Burry is portrayed by 294:The Scions of Shannara 995:Scion Capital website 762:San Jose Mercury News 71:Vanderbilt University 1248:GmbH, finanzen net. 767:San Jose, California 665:History vs Hollywood 615:History vs Hollywood 462:Saratoga, California 363:In an April 3, 2010 343:credit default swaps 171:San Jose, California 50:San Jose, California 1501:American financiers 1464:Michael Burry, M.D. 1120:cheaperthanguru.com 879:. December 20, 2016 793:Vanderbilt Medicine 127:Michael James Burry 33:Michael James Burry 1511:American investors 1448:The New York Times 1017:The New York Times 951:The New York Times 930:The New York Times 514:In popular culture 437:stock market crash 419:surpassed that of 370:The New York Times 327:subprime mortgages 323:real estate bubble 107:the 2007 mortgage 92:hedge fund manager 1358:. March 14, 2010. 835:978-0-393-07223-5 702:978-0-38552-994-5 558:Gregory Zuckerman 528:in the 2015 film 473:heavy metal music 466:Asperger syndrome 398:passive investing 277:Security Analysis 231:Investment career 124: 123: 1563: 1466:November 7, 2006 1432: 1431: 1429: 1427: 1412: 1406: 1405: 1403: 1402: 1387: 1381: 1380: 1366: 1360: 1359: 1346: 1340: 1339: 1337: 1335: 1328:Market Rebellion 1319: 1313: 1312: 1310: 1309: 1295: 1289: 1288: 1286: 1285: 1280:. 16 August 2021 1270: 1264: 1263: 1261: 1260: 1245: 1239: 1238: 1236: 1235: 1220: 1214: 1213: 1209:Business Insider 1199: 1190: 1189: 1184:. 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Retrieved 1420: 1410: 1399:. Retrieved 1395: 1385: 1374: 1364: 1353: 1344: 1332:. Retrieved 1327: 1317: 1306:. Retrieved 1302: 1293: 1282:. Retrieved 1277: 1268: 1257:. Retrieved 1253: 1243: 1232:. Retrieved 1228: 1218: 1207: 1186:the original 1162: 1152: 1144:the original 1134: 1123:. Retrieved 1119: 1110: 1097: 1086:. Retrieved 1076: 1065:. Retrieved 1063:. 2017-11-23 1061:Investormint 1060: 1051: 1039:. Retrieved 1035: 1026: 1015: 979:the original 972: 949: 939: 928: 918: 906:. Retrieved 902: 893: 881:. Retrieved 876: 867: 856: 844: 826:W. W. Norton 821: 796:. Retrieved 792: 782: 772:February 18, 770:. Retrieved 760: 750: 738:. Retrieved 732: 686: 680: 668:. Retrieved 664: 655: 636: 630: 618:. Retrieved 614: 605: 593:. Retrieved 587: 577: 561: 549: 529: 501: 493:King Diamond 470: 459: 434: 410: 386: 375: 368: 362: 351: 347: 316: 292: 289:Terry Brooks 286: 275: 237: 234: 222: 204:, earned an 191: 168: 126: 125: 1496:1971 births 883:January 24, 734:Vanity Fair 506:during the 485:Amon Amarth 481:Lamb of God 441:S&P 500 425:put options 303:S&P 500 192:He studied 109:bond market 82:Occupations 1490:Categories 1421:Bustle.com 1401:2021-05-20 1355:60 Minutes 1308:2023-08-16 1284:2021-08-17 1259:2021-11-22 1234:2021-05-20 1125:2020-08-31 1088:2019-02-20 1067:2018-09-20 798:August 18, 570:References 539:Literature 445:Nasdaq-100 430:Ark Invest 378:hedge fund 272:David Dodd 154:hedge fund 39:1971-06-19 1334:18 August 908:April 23, 877:ValueWalk 670:April 23, 504:lockdowns 214:pathology 194:economics 173:. He has 58:Education 1426:July 22, 1376:Loudwire 1303:Sky News 1041:July 22, 740:July 22, 620:July 22, 595:July 22, 489:Slipknot 477:Obituary 448:Scion's 443:and the 421:Facebook 406:Facebook 308:shorting 252:Vanguard 113:swapping 105:Shorting 88:Investor 1396:Fortune 497:Pantera 200:at the 198:pre-med 832:  699:  643:  556:2009: 544:2010: 118:(CDOs) 52:, U.S. 417:Tesla 413:Tesla 365:op-ed 335:short 264:value 175:Rusyn 1428:2018 1336:2023 1229:CNBC 1043:2018 910:2019 885:2017 830:ISBN 800:2023 774:2016 742:2018 697:ISBN 672:2019 641:ISBN 622:2018 597:2018 519:Film 495:and 367:for 358:2009 356:and 354:2008 270:and 196:and 29:Born 389:13F 382:SEC 284:." 216:at 142:ɜːr 111:by 1492:: 1462:, 1446:, 1419:. 1394:. 1373:. 1352:. 1326:. 1301:. 1276:. 1252:. 1227:. 1206:. 1194:^ 1173:^ 1161:. 1118:. 1059:. 1034:. 1014:. 1002:^ 987:^ 971:. 960:^ 948:. 927:. 901:. 875:. 828:. 824:. 808:^ 791:. 765:. 759:. 731:. 711:^ 695:. 691:. 663:. 613:. 586:. 560:, 548:, 510:. 499:. 491:, 487:, 483:, 479:, 432:. 314:. 291:' 254:, 206:MD 189:. 75:MD 66:BA 41:) 1430:. 1404:. 1379:. 1338:. 1311:. 1287:. 1262:. 1237:. 1212:. 1167:. 1128:. 1091:. 1070:. 1045:. 1020:. 954:. 933:. 912:. 887:. 838:. 802:. 776:. 744:. 705:. 674:. 649:. 624:. 599:. 534:. 148:/ 145:i 139:b 136:ˈ 133:/ 129:( 77:) 73:( 68:) 64:( 37:(

Index

San Jose, California
University of California, Los Angeles
BA
Vanderbilt University
MD
hedge fund manager
Shorting
bond market
swapping
collateralized debt obligations
/ˈbɜːri/
hedge fund
subprime mortgage crisis
San Jose, California
Rusyn
retinoblastoma
prosthetic eye
Santa Teresa High School
economics
pre-med
University of California, Los Angeles
MD
Vanderbilt University School of Medicine
pathology
Stanford University Medical Center
Medical Board of California
value investing
message boards
Silicon Investor
Vanguard

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