Dr. Michael Burry is the physician turned money manager and founder of Scion Capital LLC, his hedge fund which he successfully ran for eight years. [timeless] However, Burry is best-known for his bet against the sub-prime mortgage market. Dr. Michael Burry: Subprime short During 2005, Burry he started researching the real estate market analyzing mortgage lending prices in 2003 and 2004 and accurately forecast that the bubble would burst by 2007. Based on this conclusion, he bought several hundred million dollars in credit default swaps against subprime deals that he thought were in danger. Burry believed that as the value of the…
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