reuters.com
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Famed investor Michael Burry’s Scion Asset Management has terminated its registration status with the Securities and Exchange Commission, effective November 10.

Several posts on X circulated a photo of a letter dated October 27 from Burry to Scion’s investors saying that he was winding down his fund.

“With a heavy heart, I will liquidate the funds and return capital—but for a small audit/tax holdback – by year’s end. My estimation of value in securities is not now, and has not been for some time, in sync with the markets,” the letter said.

    • Brave Little Hitachi Wand@feddit.ukEnglish
      4·
      4 days ago

      His track record has been mixed, from what I’ve heard. I would hate for there to be a movie about what a misunderstood genius I am, and then have to prove it for a living.

      Trading is supposedly about finding the real value of things and make money based on others failure to recognise it - or to be early and patient. In truth it is closer to a weird casino, due to weak market mechanics/inherent failures of capitalism/regulatory capture/ETFs/basket swaps/collusive hedge funds/all of the above. Trying to prove you’re smart in a business like that is like trying to rob a bank by doing beat poetry.