Michael Burry: will The Big Short have a real-life sequel?

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Michael Burry: will The Big Short have a real-life sequel?

Small Caps2022-08-22

While there are many memorable highlights from the film The Big Short, one of the best was Christian Bale’s depiction of Dr Michael Burry, one of very few hedge fund operators who made a fortune by ...

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BeBob
·2022-08-22
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BeBob
·2022-08-22
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我发大财了
·2022-08-22
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doing everything possible not to draw contact with another, it was a great performance about a guy who survived a revolt by some of his own investors who wanted their money back before eventually rewarding them with a net of fees 489.34% return in less than eight years.\nArguably, Burry’s best achievement was convincing big investment banks to sell credit default swaps on mortgage-backed bonds to him back in 2005 before the big crash of 2008.\n\n\nBig bank greed the key to Burry’s big shorts\nSuch was the hubris of the big banks and their lack of understanding of the risks within their bonds that they treated Burry like a foolish patsy as he built up massive bets against their collateralised debt obligations.\nDr Burry has never really gone away since then although he has taken his business interests private before returning to reform and run Scion and is famously bearish but his latest action in selling out of virtually all of his hedge fund’s long positions is creating some real 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Burry described Bitcoin as a “speculative bubble that poses more risk than opportunity,” as he predicted a crash would soon unfold, which came true when Bitcoin crunched from US$59,000 in March to around US$34,000 by the end of May.\nMore recently, Burry said that the 18% gain in the tech-heavy Nasdaq Composite Index since the start of the third quarter is likely to reverse, with a cryptic post saying: “Can’t shake that silly pre-Enron, pre-9/11, pre-WorldCom feeling.”\nThat was seen as a reference to the tech wreck, which saw repeated rallies in technology stocks, as part of a long-term fall that erased 78% by the time the index hit bottom in 2002.\nThis time around, Burry is unlikely to face much of an investor revolt but as always, predicting market falls is a tough ask and even if the bear is right, they need to hold on long enough to be proved right.\nAs top economist Gary Shilling once said, “markets can remain irrational a lot longer than you and I can remain solvent.”\nInterestingly, that same quote is also attributed a little later to famous economist John Maynard Keynes, which perhaps shows that great minds do think alike.\n\n \n\n\n\n\n\n\n\n\n\n\n\nJoin Small Caps News\nGet notified of the latest news, interviews and stock alerts.\n\nΔ","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":9996635982,"gmtCreate":1661157359848,"gmtModify":1676536463944,"author":{"id":"3585307651801295","authorId":"3585307651801295","name":"BeBob","avatar":"https://static.tigerbbs.com/4c7fb1588c34a61b54c3059c16e50b4e","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3585307651801295","authorIdStr":"3585307651801295"},"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9996635982","repostId":2261156028,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9996635090,"gmtCreate":1661157351312,"gmtModify":1676536463935,"author":{"id":"3585307651801295","authorId":"3585307651801295","name":"BeBob","avatar":"https://static.tigerbbs.com/4c7fb1588c34a61b54c3059c16e50b4e","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3585307651801295","authorIdStr":"3585307651801295"},"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":2,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9996635090","repostId":2261156028,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9996367573,"gmtCreate":1661126326893,"gmtModify":1676536456030,"author":{"id":"3575408338074495","authorId":"3575408338074495","name":"我发大财了","avatar":"https://community-static.tradeup.com/news/850ce10f8979981b703d0999ccb63c31","vip":1,"crmLevel":7,"crmLevelSwitch":1,"idStr":"3575408338074495","authorIdStr":"3575408338074495"},"htmlText":"🤦🏻‍♂️","listText":"🤦🏻‍♂️","text":"🤦🏻‍♂️","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9996367573","repostId":2261156028,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":18,"commentSize":3,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}