||19 June 1971
||San Jose, California, United States
||Vanderbilt University School of Medicine, Santa Teresa High School, University of California, Los Angeles
|Net Worth ( 2021)
Michael James Burry is an American investor, hedge fund manager, and physician. He founded the hedge fund Scion Capital, which he ran from 2000 until 2008, before closing the firm to specialise in his own personal investments.
Michael Burry was born and grew up in San Jose, California. At the age of two he lost one among his eyes to cancer and has had a man-made eye ever since.As an adolescent , Burry attended Santa Teresa highschool .Burry studied economics and pre-med at the University of California, went on to earn an M.D. from the Vanderbilt University School of drugs ,and started but didn't finish his residency in neurology at Stanford University center .While off duty in the dark , Burry worked on his hobby, financial investing.Despite not practicing, Burry has kept his license as a physician active with the Medical Board of California, including continuing education requirements.
Michael Burry Net Worth 2021
Michael James Burry is an American investor, hedge fund manager, and physician who features a net worth of $300 million.As Per 2004 he had quite $600 million worth of assets under management.In January 2021, GameStop's share price skyrocketed thanks largely to a coordinated effort of Reddit users. On January 28, 2021, GameStop briefly hit $480 a share. At that level Michael's 1.7 million shares would are worth $816 million.
Michael Burry Wife
Burry is married, with children, and currently lives in Saratoga, California.His son was diagnosed with Asperger syndrome, and Burry believes he himself has Asperger syndrome after reading about the disorder.
After school of medicine , Burry worked as a Stanford Hospital neurology resident then a Stanford Hospital pathology resident.Burry then left to start out his own hedge fund. He had already developed a reputation as an investor by demonstrating success in value investing, which he wrote about on message boards on the stock discussion site Silicon Investor beginning in 1996.
He was so successful together with his stock picks that he attracted the interest of companies like Vanguard, White Mountains Insurance Group and prominent investors like Joel Greenblatt. Burry features a strictly traditional understanding useful . He has said quite once that his investment style is made upon Benjamin Graham and David Dodd’s 1934 book Security Analysis: "All my stock picking is 100% supported the concept of a margin of safety."
In 2005, Burry began to specialise in the subprime market. Through his analysis of mortgage lending practices in 2003 and 2004, he correctly predicted that the important estate bubble would collapse as early as 2007. Burry's research on the values of residential land convinced him that subprime mortgages, especially those with "teaser" rates, and therefore the bonds supported these mortgages, would begin losing value when the first rates were replaced by much higher rates, often in as little as two years after initiation. This conclusion led Burry to short the market by persuading Goldman Sachs and other investment firms to sell him credit default swaps against subprime deals he saw as vulnerable. This analysis proved correct, and Burry profited accordingly.
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 earned a private profit of $100 million and a profit for his remaining investors of quite $700 million.Scion Capital ultimately recorded returns of 489.34% between its All Saints' Day , 2000 inception and June 2008. The S&P 500, widely considered the benchmark for the US market, returned slightly below 3%, including dividends over an equivalent period.
According to his website, Burry liquidated his credit default swap short positions by April 2008 and didn't enjoy the bailouts of 2008 and 2009. He subsequently liquidated his company to specialise in his personal investment portfolio.In an April 3, 2010 op-ed for The ny Times, Burry argued that anyone who studied the financial markets carefully in 2003, 2004, and 2005 could have recognized the growing risk within the subprime markets.He faulted federal regulators for failing to concentrate to warnings from outside a closed circle of advisors.
In 2013, Burry reopened his hedge fund, this point called Scion Asset Management, filing reports as an exempt reporting adviser (ERA) who is active within the state of California and approved by the SEC.
Glimpses were offered into Scion's portfolio with 13Fs filed from the 4th quarter of 2015 through the 3rd quarter of 2016, as needed by the SEC when fund holdings top $100 million. After quite two years, on Valentine Day , 2019, Scion Asset Management filed another 13F, showing Michael Burry to carry numerous large-cap stocks and $103,528,000 13F assets under management, just above the edge for filing.
Burry initiated short position on Tesla before or around early December 2020, consistent with a now-deleted tweet and certain added to his short positions after the market cap of Tesla surpassed that of Facebook. Burry predicts Tesla stock will collapse just like the housing bubble; he boasted that "my last Big Short got bigger and larger and BIGGER" and taunted Tesla bulls to 'enjoy it while it lasts.'