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Michael James Burry (/ ˈ b ɜːr i /; born June 19, 1971) [2] is an American investor and hedge fund manager. He founded the hedge fund Scion Capital, which he ran from 2000 until 2008 before closing it to focus on his personal investments.
In 2000, Gotham Capital helped Michael Burry create his hedge fund Scion Capital by buying 25% of its capital for one million dollars after taxes. [9] In October 2006, Gotham's investment in the funds managed by Scion amounted to $100 million. [9] Gotham exited its investments both in the managed funds by Scion Capital and as a shareholder. [9]
Some 20% of the entire national manufacturing sector is still tied to the automobile industry. The transplants can make a profit when sales are at least 12 million; the Big Three when sales are at least 15 million. [104] By December 19, 2008, oil prices had fallen to $33.87 per barrel, but the automobile crisis continued. [105]
On December 19, 2008, Fitch Ratings downgraded the Issuer Default Rating of General Motors and Chrysler to "C", indicating "default is imminent". [101] A December 22, 2008, article from Bloomberg reported that General Motors and Ford "had their debt cut further below investment status by Standard & Poor's and Moody's Investors Service.
On May 12, 2008, in the "Capital" section of its last 10-Q, IndyMac revealed that it may not be well capitalized in the future. [ 419 ] IndyMac reported that during April 2008, Moody's and Standard & Poor's downgraded the ratings on a significant number of Mortgage-backed security (MBS) bonds—including $160 million (~$222 million in 2023 ...
In February 2004, Elon Musk led Tesla's first funding round and became the company's chairman; in 2008, he was named chief executive officer. In 2008, the company began production of its first car model, the Roadster sports car, followed by the Model S sedan in 2012, the Model X SUV in 2015, the Model 3 sedan in 2017, the Model Y crossover in ...
Chrysler LLC, which is owned by Cerberus Capital Management, in a similar financial situation, warned that it, too, was nearly out of cash and might not survive much longer. December 18, 2008: President Bush announced that an "orderly" bankruptcy was one option being considered for both General Motors and Cerberus-owned Chrysler LLC. Sources ...
Thiel did not require permission, as he was a citizen. [191] Thiel's application cited his contribution to the economy—he had founded a venture capital fund in Auckland before applying, and had invested $7 million in two local companies—as well as a $1 million donation to the 2011 Christchurch earthquake appeal fund. [188]