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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.
Burry's hedge fund Scion Capital disclosed Tuesday in a federal filing with the SEC that it had closed out "put" positions on the SPDR S&P 500 ETF and Invesco QQQ Trust (), which tracks the Nasdaq ...
That fund, Scion Capital, also boosted bets on Chinese e-commerce giants Alibaba and JD.com. Michael Burry of Scion Capital. (Jim Spellman/WireImage) (Jim Spellman via Getty Images)
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]
In 2005, eccentric hedge fund manager Michael Burry discovers that the United States housing market, based on high-risk subprime loans, is extremely unstable.Anticipating the market's collapse in the second quarter of 2007, as interest rates would rise from adjustable-rate mortgages, he proposes to create a credit default swap market, allowing him to bet against, or short, market-based ...
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Initially, fellow Silicon Investor members were skeptical that a medical professional knew anything about the stock market. Burry went on to found Scion Capital LLC, an investment fund that managed at its peak roughly $1 billion. [13] Burry correctly predicted the subprime mortgage crisis.
The Big Short: Inside the Doomsday Machine is a nonfiction book by Michael Lewis about the build-up of the United States housing bubble during the 2000s. It was released on March 15, 2010, by W. W. Norton & Company.