Known around the world from the popular Hollywood movie ‘The Big Short’, legendary Wall Street investor Michael Burry again made headlines this week following reports that he is shutting his hedge fund Scion Asset Management.
According to data on the Securities and Exchange Commission (SEC) website, US-based Scion Asset Management, founded by Michael Burry, has terminated its registration status on November 10, 2025.
Who is Michael Burry?
Known on Wall Street for his wild predictions, Michael Burry is most popular as the hedge fund portfolio manager who bet against the United States housing market in 2008, using a financial instrument known as the credit default swaps (CDS).
Notably, his prediction as made as early as 2007, when he identified irregularities that would ultimately trigger the 2008 financial crisis. The broader market's subsequent collapse due to the subprime mortgage crisis shot the investor to worldwide fame — he made $100 million from his bets in 2008 as his portfolio held the insurance against those bonds.
His experiences were later turned into the 2010 bestselling book called ‘The Big Short: Inside the Doomsday Machine’ written by Michael Lewis. The book was later also made into a 2015 movie starring Hollywood stars Ryan Gosling, Steve Carell and Christian Bale.
A look at Michael Burry's moves since the ‘Big Short’
Starting Scion Asset Management
- After facing investigations and lawsuits over his ‘Big Short’ prediction, which led to him shutting shop for some time, Michael Burry returned to the financial markets in 2013 with his own company — Scion Asset Management.
- In an interview with Bloomberg in 2019, he raised concern over the so-called “index bubble”, which the legendary investor warned was comparable to the 2008 subprime collateralised debt obligations (CDOs) boom.
Meme stocks and Tesla
- In late 2020 he sold his entire stake in GameStop — the memstock, which only a year later made headlines for its meteoric more than 2,000% rise in early 2021. The company became emblematic of the meme-stock craze, capturing widespread public attention. But Burry lost out.
- Then, May 2021 filings showed that Burry's firm had taken put-option positions against Tesla (on 800,100 shares as per a Reuters report), consistent with his warning that the auto maker's valuations did not match its fundamentals.
Warning on AI, tech company fundamentals
- More recently in 2025, Burry has warned about a similar inflation by AI and tech companies. Last week he also called bearish stances on Wall Street favourites Nvidia and Palantir, cautioning that AI has pushed this year's markets rally. And in a social media post on 10 November, he highlighted how extending the useful life of assets in an artificial way can boost the company's earnings. He called this move ‘one of the more common frauds of the modern era.’
- Burry, in his take on big tech companies buying semiconductor chips or servers from Nvidia, said that these equipments with a two to three-year product cycle, should not result in the extension of useful lives of computing equipment.
- “Yet this is exactly what all the hyperscalers have done. By my estimates they will understate depreciation by $176 billion 2026-2028. By 2028, Oracle will overstate earnings 26.9%, Meta by 20.8%, etc. But it gets worse. More detail coming November 25th. Stay tuned,” Burry stated on X.
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