Michael Burry of ‘Big Short’ fame deregisters Scion Asset Management
Nov 13 (Reuters) – “Big Short” investor Michael Burry, known for his successful bets against the U.S. housing market in 2008, has deregistered his hedge fund, Scion Asset Management.
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Bets by Scion, which managed $155 million in assets as of March, have long been dissected for hints of looming bubbles and signs of market froth.
In a post on social media platform X on Wednesday, Burry said, “On to much better things Nov 25th.” Scion Asset Management did not immediately respond to a Reuters request for comment.
BEARISH AI BETS
“Burry’s decision feels less like ‘calling it quits’ and more like stepping away from a game he believes is fundamentally rigged,” said Bruno Schneller, managing director at Erlen Capital Management.
Between 2026 and 2028, those accounting choices could understate depreciation by about $176 billion, inflating reported profits across the sector, he estimated.
“Don’t count him out, just expect him to operate off the grid for a while. He may simply pivot to a family-office setup and run his own capital,” said Schneller.
The investor’s short position against subprime mortgage securities during the housing market crash was chronicled in Michael Lewis’s book, “The Big Short”, and its film adaptation.
His profile on X, titled “Cassandra Unchained,” is seen as a nod to the Greek mythological figure cursed by Apollo to deliver true prophecies that no one would believe.
Investment advisers with assets under management of $100 million or more have to register with the SEC, and are primarily subject to federal regulation instead of state regulation.
ROUGH RIDE FOR SHORT SELLERS
Burry joins a cast of high-profile investors navigating a market that has become increasingly hostile to bearish views in recent years, thanks to unfettered optimism around technology and strong interest from retail investors.
Chanos has argued that Strategy’s valuation premium was unjustified, a critique that drew a sharp response from Saylor.
Reporting by Niket Nishant and Johann M Cherian in Bengaluru and Nell Mackenzie in London; Additional reporting by Aditya Soni and Manya Saini in Bengaluru; Editing by Anil D’Silva
Our Standards: The Thomson Reuters Trust Principles.
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