Michael Burry
Born 1971 · Age 54
American investor and hedge fund manager; founded Scion Capital (later Scion Asset Management). Early predictor of and profit-maker from the 2007–2008 subprime mortgage collapse; a physician by training who left medicine to manage funds.
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Life & Career Timeline
Born in San Jose, California
Michael James Burry was born in San Jose, California.
Diagnosed with retinoblastoma; lost left eye
At age two Burry was diagnosed with retinoblastoma and lost his left eye; has used a prosthetic eye since.
Graduated Santa Teresa High School (approx.)
Attended the public Santa Teresa High School as a teenager; approximate high-school graduation year used (age 18).
Completed BA in economics (UCLA) (approx.)
Studied economics and pre-med at the University of California, Los Angeles and earned a bachelor's degree (approximate year inferred from medical school timing).
Began posting investing ideas on Silicon Investor message boards
Built an early reputation for value investing by posting stock picks and analysis on the Silicon Investor discussion boards beginning in 1996; attracted attention of prominent investors.
Earned M.D. from Vanderbilt University School of Medicine
Completed medical degree from Vanderbilt (MD conferred in 1997).
Began residency at Stanford (neurology/pathology)
Worked as a neurology resident and later a pathology resident at Stanford Hospital and Clinics after medical school while pursuing investing as a hobby at night.
Night-time hobby investing while a resident
Continued detailed market research and stock picking off-duty while in medical residency — this hobby built his early investing reputation.
Early outside funding/seed by Joel Greenblatt (~$1M)
Joel Greenblatt of Gotham Capital is reported to have provided roughly $1 million to Scion's early capital after reading Burry's posts; other interest from Vanguard and White Mountains noted.
Founded Scion Capital hedge fund
Launched Scion Capital after closing his website; funded initially by an inheritance and family loans; the name 'Scion' came from Terry Brooks' novel The Scions of Shannara.
Named Scion after a favorite fantasy novel
Burry named his fund 'Scion' after Terry Brooks' The Scions of Shannara, indicating personal interests influenced branding.
Shut down personal investing website
Closed his investing website in November 2000 as he moved from public message boards to managing external capital.
Shorted tech stocks; delivered 55% return in 2001
During the dot-com bust Scion produced a reported 55% return in 2001 while the S&P500 fell ~11%, boosting Burry's profile as a contrarian value investor and short-seller.
Strong fund performance in 2002 (reported 26%)
Scion Capital reported continued outperformance with a return reported around 26% in 2002.
Began detailed analysis of mortgage lending practices
Started analyzing residential real-estate data and lending practices; began to identify risks in subprime mortgages (research through 2003–2004).
Scion Assets Under Management > $600M (reported by 2004)
Sources report that by 2004 Scion managed over $600 million in assets — this growth was largely due to early fund performance.
Continued subprime research (2003–2004)
Burry's research in 2003–2004 convinced him subprime mortgages (especially teaser-rate loans) would reset and collapse, creating an opportunity to short related securities.
Began focusing on the subprime mortgage market
In 2005 Burry shifted major focus to the subprime mortgage market and started positioning Scion to profit from expected mortgage bond weakness.
Started buying credit default swaps against subprime deals
Persuaded counterparties (including Goldman Sachs) to sell him credit default swaps (CDS) on mortgage-backed securities he identified as vulnerable, establishing large short positions.
Public education/critique of regulators
Through publications and later op-eds, Burry faulted federal regulators for failing to heed outside warnings about subprime risk.
Experienced investor withdrawals / revolt during CDS payments
While paying premiums on credit default swaps, some Scion investors demanded redemptions; Burry faced pressure and an investor revolt before the crisis payoff.
Diagnosed himself with Asperger’s after son's diagnosis
Following his son's diagnosis with Asperger syndrome, Burry recognized similar traits in himself and was described as diagnosed at age 35 in some sources.
Investor attention from major firms and investors
By mid-2000s Burry had attracted interest from Vanguard, White Mountains Insurance Group and investors such as Joel Greenblatt due to his message-board stock picks and early fund results.
Age when some sources report self-diagnosis of Asperger’s
Following his son's diagnosis, Burry recognized traits in himself consistent with Asperger syndrome; several profiles cite this as occurring around age 35.
Published 'A Primer on Scion Capital’s Subprime Mortgage Short'
Burry publicly explained his subprime short thesis in a detailed primer on Scion's website (document dated Nov 7, 2006).
Subprime/credit crisis materializes; CDS positions pay off
As mortgage defaults and MBS values collapsed in 2007–2008, Burry's CDS positions appreciated dramatically.
Shut down Scion Capital
Burry closed Scion Capital in 2008, citing a desire to pursue other investment ventures and partly the public reaction and pressures from the crisis dealings.
Realized major profits: ~$100M personal; ~$700M for investors
Burry is reported to have earned about $100 million personally and generated over $700 million in profits for his remaining investors from the subprime short positions.
Decision to step away from active hedge-fund management
After the payoffs and public attention from the crisis trade, Burry closed the original Scion Capital to pursue other investment interests before later reopening a new firm.
Featured in Gregory Zuckerman's 'The Greatest Trade Ever'
Gregory Zuckerman's 2009 book included Burry among major traders who profited in the mortgage crisis.
Provided audio/testimony to FCIC (archived audio)
Material of Burry's FCIC (Financial Crisis Inquiry Commission) testimony is available in archived audio resources; he contributed information about the crisis.
Michael Lewis releases 'The Big Short' featuring Burry
Michael Lewis' book The Big Short (2010) prominently featured Burry's role in predicting and profiting from the housing-market collapse.
Reported personal residence and family (Saratoga, CA)
Reported to be married and living in Saratoga, California with his two sons (adult by 2010 reporting).
Profiled in Vanity Fair: 'Betting on the Blind Side'
Michael Lewis published a high-profile Vanity Fair piece chronicling Burry's subprime bet and investing style.
Wrote NYT op-ed: 'I Saw the Crisis Coming. Why Didn't the Fed?'
Published an opinion piece in The New York Times criticizing regulators and explaining how the crisis could have been foreseen.
Profiled by Bloomberg ('Risk Takers')
Featured in Bloomberg Businessweek (profiled July 20, 2012), continuing public recognition of his contrarian investing style.
Reopened firm as Scion Asset Management
Reopened his investment firm under the name Scion Asset Management in 2013, shifting emphasis toward personal investments such as water, farmland and gold.
Shifted investment focus to water, farmland and gold
Scion Asset Management's investments after reopening emphasized tangible assets such as water rights, farmland, and gold — reflecting Burry's long-term macro concerns.
Profiled by Vanderbilt Medicine ('These Doctors Mean Business')
Subject of a Vanderbilt Medicine piece noting physicians who became business leaders; referenced Burry's transition from medicine to investment.
Cultural and literary recognition: 'The Big Short' book/film references
Burry's trades and story have been chronicled in multiple major works: Michael Lewis' The Big Short (2010 book) and the 2015 film adaptation (and other books such as Zuckerman's 2009 'The Greatest Trade Ever'), raising his profile permanently.
Portrayed by Christian Bale in film 'The Big Short'
The film adaptation (released 2015) of Michael Lewis' book featured Christian Bale portraying Michael Burry, raising his public profile further.
Christian Bale wins a Critics' Choice award for role
Christian Bale won Best Actor in a Comedy at the 21st Annual Critics' Choice Awards for his portrayal of Burry (reflects cultural recognition of Burry's story).
Publicly criticized COVID-19 lockdowns
Burry was highly critical of the U.S. lockdowns during the COVID-19 pandemic, voicing strong public opinions in 2020.
Deleted Twitter account after a comment by Elon Musk
Reportedly left Twitter following a remark by Elon Musk (coverage noted in 2021), reflecting Burry's ambivalence toward social-media platforms.
Large put-option positions (reported; later unwound)
Reports indicate Burry took large put-option positions in 2022–2023 (FinMasters/other reporting indicates put exposures ~ $1.6B combined at one point, later unwound at loss), demonstrating his continued macro/short activity.
Scion Q3 2023 holdings and AUM reported (~$238M)
FinMasters reported Scion had 11 stock holdings and about $237–238M in assets under management as of Q3 2023, with positions such as Stellantis, Nexstar and Star Bulk listed with values.
Concentrated, value-oriented public equity holdings reported (Q3 2023)
FinMasters listed Scion's Q3 2023 equity holdings (e.g., Stellantis $7.65M, Nexstar $6.98M, Star Bulk $4.82M, Booking $4.63M, Alibaba $4.34M, etc.) illustrating Burry's concentrated-value approach.
Net worth reported/estimated at ~$300M (public estimates)
Public sources (e.g., Fox Business citing celebritynetworth.com) estimate Michael Burry's net worth around $300 million in 2024.
Reported purchase of large put-option positions (~$866M and $739M)
Fox Business reported Scion purchased approximately $866M in puts on an S&P fund and $739M on a Nasdaq-100 fund (reporting date March 6, 2024).
Medical license status confirmed active (California DB & C record retrieved)
Licensing details for Burry (physician license) were retrieved from the California Department of Consumer Affairs (record referenced/retrieved 2025-01-21), showing he has maintained an active license and continuing-education compliance despite not practicing clinically.
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