Short Summary
Michael Burry is a renowned American investor, hedge fund manager, and physician best known for predicting the 2008 financial crisis. He gained fame for his role in betting against the subprime mortgage market, a story popularized in Michael Lewis’s book and the subsequent movie, "The Big Short." Burry's investment strategies and insights have made him an influential figure in the financial world, renowned for his analytical acumen and unconventional approaches.
Early Life & Education
Michael Burry was born on June 19, 1971, in San Jose, California. He faced a significant challenge early on, losing an eye to cancer, which resulted in him using a prosthetic eye. He attended Santa Teresa High School in San Jose. His academic journey led him to the University of California, Los Angeles, where he earned a degree in economics and pre-med. Burry then attended the Vanderbilt University School of Medicine, receiving a Doctor of Medicine degree. However, his passion for financial markets led him to pivot from a medical career to finance, where he applied his analytical skills.
Career Highlights
Michael Burry founded the hedge fund Scion Capital in 2000, leveraging his analytical expertise to identify undervalued assets. His most notable career highlight came in the mid-2000s when he predicted the collapse of the housing bubble. Burry’s decision to short the subprime mortgage market was a bold move that paid off handsomely during the 2008 financial crisis, earning his investors substantial returns. After closing Scion Capital in 2008, he later founded Scion Asset Management, continuing to make significant investment decisions and influencing market trends.
Major Achievements
- Successfully predicted the 2008 financial crisis, earning significant profits by shorting the subprime mortgage market.
- Founded Scion Capital and later Scion Asset Management, achieving substantial returns for his investors.
- Featured prominently in Michael Lewis's book, "The Big Short," and its film adaptation, bringing his story to a wider audience.
Famous Quotes
- "I try to buy shares of unpopular companies when they look like road kill, and sell them when they’ve been polished up a bit."
- "The greatest risk of all is not taking one."
Interesting Facts
- Burry was originally trained as a physician before switching to finance.
- He began his investment career by posting on financial message boards in the late 1990s.
- Burry was portrayed by Christian Bale in the film "The Big Short."
Legacy / Influence
Michael Burry's legacy is defined by his uncanny ability to foresee financial trends and his willingness to take substantial risks based on his convictions. His success in predicting the 2008 financial crisis has cemented his status as a visionary in the investment world. Burry’s influence extends beyond his financial achievements, inspiring a new generation of investors to think critically and challenge conventional wisdom.
FAQ
Q: Why is Michael Burry famous?
A: Michael Burry is famous for predicting the 2008 financial crisis and profiting from shorting the subprime mortgage market.
Q: What is Michael Burry's educational background?
A: He holds a degree in economics and pre-med from UCLA and a Doctor of Medicine from Vanderbilt University.
Q: What book and movie featured Michael Burry?
A: He was featured in Michael Lewis's book "The Big Short" and its film adaptation.
