Profiling "The Big Short's" Michael Burry

Tyler Durden's picture

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YesWeKahn's picture

He made billions on that short, what about now?

kridkrid's picture

He's buying up farmland, from what I hear.

Pladizow's picture

Other then CRESY, anybody know any practical ways to play farmland?

YesWeKahn's picture

Smart move. I'm buying some land too.

Idiocracy's picture

and gold.  Lots of. He's on the record as a long.

It's beautiful that his career success boils down to the fact that he's honest.  Intellectually honest.  Could not have happened to a more wrthy guy.  Fuck the Wall Street sycophants who praise naked emperors for money.

The Shootist's picture

That and I believe gold -would love to hear his thoughts on the current market.

Spitzer's picture

Yeah and thats a dumb idea.

Farm land is the "anything but gold" crowds wet dream. You know...Warren Buffet

JuicedGamma's picture

He liquidated Scion because he got sick of dealing with investors who didn't understand why he would turn an equity fund into a housing bear bet (plus he wouldn't let them withdraw their funds).

The investors made many multiples of their investment and didn't even have the courtesy to say thanks. Understandably, investing your own money is much more fun -- you don't have to answer to your prospectus.

jiggerjuice's picture

Scion Capital is closed. You will be forwarded to Bo Shan's GobiCap Value Fund. A proper value investing fund in the Momo Age.

spekulatn's picture

The first. All others piggybacked his trade.

Zero Govt's picture

Yep, not only the first but practically invented the Sub-Prime short all by himself (which everyone else piggybacked) ...and in hindsight probably should've kept all his investors in the dark which would have stopped piggybacker Paulson et al

Brilliant, insightful, balls and ahead of the curve... my Hero :)

spekulatn's picture

Very much agree Zero Govt.

 

 

TruthInSunshine's picture
by kridkrid
on Wed, 07/20/2011 - 14:03
#1474469

 

http://news.vanderbilt.edu/2011/04/video-burry-cls/ - Here is a lecture of his at Vandy

Thank you for linking that +1000.

Everyone here should watch at least from minute 23 onward - it's epic, amazing and a keeper (about QE, Bernanke's REASON for meddling, public unions, debt and the gravity of our situation).

scratch_and_sniff's picture

I tried to listen to it, but that guys voice was drilling into my skull, i cant handle it.

francis_sawyer's picture

How could he have possibly made any money?

'Subprime is contained'!

Dr. Richard Head's picture

Contained is a matter of the transitory nature of tradional money.

francis_sawyer's picture

Peas are 'contained' in pods & then cans (until someone goes & tells you you have to eat them)...

TruthInSunshine's picture

Fukushima and Chernobyl are both equally contained.

GiantWang's picture

What I want to know is how, with only $45k in capital, was he able to trade derivatives like CDS? It seems that small time, individual investors don't even have access to the types of securities that are the actual drop in the water . . . but, rather, are left to trade in unpredictable ripple effect markets.

Bolweevil's picture

the 45k was his start in equities (quit med residency), which in turn attracted 100M from NYC playas...

GeneMarchbanks's picture

Think independently indeed. Is there any other kind?

UTICA CLUB XX PURE's picture

Great Video. I'm just like him except for the investment savvy part. Also I wonder if he owns physical silver???

rosiescenario's picture

Not to be critical, but even I had a bunch of WAMU leap puts....wasn't it pretty obvious to anyone that the housing with cash-out-refi's was going to be a train wreck? If it was obvious to me, it must have been so to several hundred thousand others.

 

Realtors were busing people from the SF Bay Area out to Chowchilla, CA to buy "cheap" homes. And buy they did with no thought to the simple fact that folks out there do not earn enough to pay the mortgages on the homes being driven up by this outside buying.All one needed to do was use some horse sense.....nothing very complicated here, folks.

 

To me it is like buying silver mining stocks today....all the actual producers are going to be reporting massive earnings. Just read a report from one re-opening a mine in Texas that had a pay back of 1.9 years.....based on $15/oz silver.....bought some more of that one. Pretty obvious stuff...right in front of us.

 

But the 'professional' money managers were rather buy Lulu betting on a bigger fool to come along...

Syrin's picture

In retrospect it seems like it should have been obvious, but it clearly wasn't obvious to the majority back then.   Hell he created the credit default swap as that vehicle didn't exist until he started asking about it.

TruthInSunshine's picture

Sort of exactly how not a single major media outlet or 'investment' channel of information (major, conventional, "accepted") is NOT speaking of how any debt crisis resolution is possible without a considerable chunk of the existing debt being wiped away - period. end of story. finito.

The U.S. and developed nations of the world (and many would argue China, as well, among the big emerging ones), are currently unfixable given the commentary and statements made by legislators and media pundits.

All of this should seriously beg the question, for even the least 'conspiratorial' of the non-sheeple (who don't think about these things anyways), "why?"

StychoKiller's picture

Denile is long, deep and wide, friend.  :>D

Arius's picture

the trick i suppose is which silver mining stock to buy???

Bear's picture

At the time 86% of people in Orange County (CA) couldn't afford a mortgage on the home they lived in if they had to purchase it. Everyone felt rich ... so much so that they went out and bought every thing in sight

Syrin's picture

I saw an interview of him about 8 months ago.   His advice then was to buy gold and farmland

slaughterer's picture

And open a bank account in Canada.

Turd Ferguson's picture

If you haven't taken the time to read this book you are doing yourself a tremendous disservice. Absolutely essential reading.

Blano's picture

Not only essential reading, but fun reading too.

I bought the book to take on vacation 3 days before I left.  Had it read before I took off, and read it twice more that following week.

I am a Man I am Forty's picture

Alan Greenspan is a giant fucking idiot

kridkrid's picture

It's likely far worse than that.  He's more likely a psychopath than an idiot.

Bolweevil's picture

Alan Greenspan, fun at a party. Head of the Fed? Not so much.

kridkrid's picture

It's all a matter of perspective, no?  For Joe Six Pack (I include myself) he was horrible... for the continuation of the Ponzi scheme, he did what needed to be done.  Credit was beginning to wobble, the fed lit a fire under housing, can kicked with interest.  The end is near.