• BullionStar
    05/30/2016 - 21:24
    The US Gold Market is best known as the home of gold futures trading on the COMEX in New York. The COMEX has a literal monopoly on gold futures trading volumes worldwide, but very little physical...

Profiling "The Big Short's" Michael Burry

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Wed, 07/20/2011 - 13:59 | 1474455 YesWeKahn
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He made billions on that short, what about now?

Wed, 07/20/2011 - 14:01 | 1474461 kridkrid
kridkrid's picture

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

Wed, 07/20/2011 - 14:40 | 1474588 Pladizow
Pladizow's picture

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

Wed, 07/20/2011 - 14:53 | 1474614 tip e. canoe
tip e. canoe's picture

buy seeds, plant in fertile ground, keep well irrigated

Wed, 07/20/2011 - 15:14 | 1474717 Oh regional Indian
Oh regional Indian's picture

+10 bushels.

ORI

Thu, 07/21/2011 - 00:23 | 1476169 StychoKiller
StychoKiller's picture

The simplest plans are always the best! :>D

Wed, 07/20/2011 - 14:58 | 1474638 kridkrid
kridkrid's picture

Here's a good link: http://www.youtube.com/watch?v=3ctetiBFxeE - Good Luck

Wed, 07/20/2011 - 15:24 | 1474687 Thomas
Thomas's picture

delete

Wed, 07/20/2011 - 15:04 | 1474668 YesWeKahn
YesWeKahn's picture

Smart move. I'm buying some land too.

Wed, 07/20/2011 - 15:21 | 1474758 Idiocracy
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.

Wed, 07/20/2011 - 20:07 | 1475677 The Shootist
The Shootist's picture

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

Thu, 07/21/2011 - 00:47 | 1476204 Spitzer
Spitzer's picture

Yeah and thats a dumb idea.

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

Wed, 07/20/2011 - 14:25 | 1474550 JuicedGamma
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.

Wed, 07/20/2011 - 14:30 | 1474559 jiggerjuice
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.

Wed, 07/20/2011 - 14:00 | 1474459 spekulatn
spekulatn's picture

The first. All others piggybacked his trade.

Wed, 07/20/2011 - 15:06 | 1474653 Zero Govt
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 :)

Wed, 07/20/2011 - 19:13 | 1475529 spekulatn
spekulatn's picture

Very much agree Zero Govt.

 

 

Wed, 07/20/2011 - 14:03 | 1474469 kridkrid
kridkrid's picture

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

Wed, 07/20/2011 - 14:32 | 1474563 slaughterer
slaughterer's picture

When can we expect a Bloomberg video on the real people behind Zero Hedge?

Wed, 07/20/2011 - 14:36 | 1474580 kridkrid
Wed, 07/20/2011 - 14:55 | 1474619 slaughterer
slaughterer's picture

Pay no attention to the Tyler Durdens posting on the other side of the screen.

Thu, 07/21/2011 - 00:09 | 1476145 baby_BLYTHE
Thu, 07/21/2011 - 00:25 | 1476171 StychoKiller
StychoKiller's picture

Grass has to start growing in the bomb craters first...

Wed, 07/20/2011 - 14:17 | 1474522 TruthInSunshine
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).

Wed, 07/20/2011 - 23:13 | 1476069 scratch_and_sniff
scratch_and_sniff's picture

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

Wed, 07/20/2011 - 14:07 | 1474482 HITMAN56
HITMAN56's picture

STUD

Wed, 07/20/2011 - 14:10 | 1474493 francis_sawyer
francis_sawyer's picture

How could he have possibly made any money?

'Subprime is contained'!

Wed, 07/20/2011 - 14:16 | 1474521 Dr. Richard Head
Dr. Richard Head's picture

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

Wed, 07/20/2011 - 14:50 | 1474604 francis_sawyer
francis_sawyer's picture

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

Wed, 07/20/2011 - 15:11 | 1474698 TruthInSunshine
TruthInSunshine's picture

Fukushima and Chernobyl are both equally contained.

Wed, 07/20/2011 - 14:19 | 1474530 GiantWang
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.

Wed, 07/20/2011 - 14:56 | 1474621 Bolweevil
Bolweevil's picture

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

Wed, 07/20/2011 - 14:22 | 1474538 GeneMarchbanks
GeneMarchbanks's picture

Think independently indeed. Is there any other kind?

Wed, 07/20/2011 - 14:23 | 1474542 UTICA CLUB XX PURE
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???

Wed, 07/20/2011 - 14:28 | 1474557 rosiescenario
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...

Wed, 07/20/2011 - 14:35 | 1474574 Syrin
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.

Wed, 07/20/2011 - 14:47 | 1474598 TruthInSunshine
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?"

Thu, 07/21/2011 - 00:28 | 1476178 StychoKiller
StychoKiller's picture

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

Wed, 07/20/2011 - 14:36 | 1474578 Arius
Arius's picture

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

Wed, 07/20/2011 - 15:05 | 1474681 Bear
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

Wed, 07/20/2011 - 14:34 | 1474571 Syrin
Syrin's picture

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

Wed, 07/20/2011 - 14:38 | 1474583 slaughterer
slaughterer's picture

And open a bank account in Canada.

Wed, 07/20/2011 - 14:42 | 1474594 Turd Ferguson
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.

Wed, 07/20/2011 - 16:09 | 1474978 Blano
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.

Wed, 07/20/2011 - 14:51 | 1474606 I am a Man I am...
I am a Man I am Forty's picture

Alan Greenspan is a giant fucking idiot

Wed, 07/20/2011 - 14:55 | 1474618 kridkrid
kridkrid's picture

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

Wed, 07/20/2011 - 14:58 | 1474640 Bolweevil
Bolweevil's picture

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

Wed, 07/20/2011 - 15:10 | 1474693 kridkrid
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.

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