Early Life and Education
Born on June 19, 1971, in San Jose, California, Michael James Burry’s remarkable journey began with a Bachelor’s degree from the University of California, Los Angeles (UCLA). He later pursued a medical degree from the prestigious Vanderbilt University School of Medicine, becoming a licensed physician.
In the year 2000, fueled by his passion for finance, Burry took a daring step and founded Scion Capital, his own hedge fund. With initial capital from his family and himself, he embarked on a groundbreaking financial career.
Spotting the Crisis: A Foreseeable Gamble
In 2005, while the housing market boomed, Burry displayed exceptional foresight by recognizing the flaws in the subprime mortgage sector. He boldly invested in credit default swaps (CDS) on subprime mortgage bonds, betting against the housing market and setting the stage for unprecedented success.
The 2008 Financial Crisis: Triumph Amidst Turmoil
In 2007, Burry’s predictions materialized as the subprime mortgage market collapsed, triggering a global financial crisis. His visionary moves led to a windfall of $100 million for himself and a staggering $725 million for his investors.
A Decision to Close: Scion Capital’s Closure
Despite his triumph, in 2008, Burry surprised many by deciding to close Scion Capital and returning the remaining funds to his investors.
In 2010, the critically acclaimed book “The Big Short” immortalized Burry’s tale of his bet against the subprime mortgage market, transforming him into a household name.
Scion Asset Management: A New Chapter
Following Scion Capital’s closure, Burry launched Scion Asset Management in 2010, where he continued managing his personal investments, cementing his position as a force in the financial world.
A Voice of Caution: Warning Against Market Risks
In 2013, Burry raised concerns about potential bubbles in passive index funds, stressing the importance of evidence-based investing and prudent market analysis.
In 2019, Burry’s significant long position in GameStop, a struggling video game retailer, became the talk of the town when the WallStreetBets subreddit community rallied behind the stock in 2021, triggering a massive short squeeze.
A Visionary Perspective: Warning of Market Risks
In 2020 and beyond, Burry’s views on excessive valuations in the technology sector and inflation gained significant attention, as he continued to caution against speculative excess and market risks.
Throughout his career, Burry embraced a contrarian investment philosophy, unyielding in his convictions and willing to go against the crowd.
A Heart of Philanthropy: Giving Back to the Community
Burry’s success did not dampen his compassion. He generously donated millions to various causes, exemplifying his commitment to making a positive impact on the world.
Hollywood Recognition: “The Big Short” Movie
The 2015 film “The Big Short” immortalized Burry’s story on the silver screen, further popularizing his accomplishments and securing his place in financial history.
A Legacy Continues: Inspiring Future Generations
As Michael Burry’s journey endures, his foresight, intellect, and evidence-based approach to investing will undoubtedly continue to inspire generations of investors and shape the world of finance for years to come.
Michael Burry and his family live in Saratoga, California. His son was diagnosed with Asperger syndrome, and after learning more about the disorder Burry believes he also has it.
Michael Burry’s estimated net worth is around $300 million.
Burry’s investment approach draws heavily from the principles outlined in Benjamin Graham and David Dodd’s influential book “Security Analysis”, published in 1934