Fri, Oct 28, 2016
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Michael Burry, the genius who saw financial crash, uses liquidated fund site to criticize U.S. gov’t

Thursday, April 15, 2010
Opalesque Industry Update – Michael Butty, the genius who predicted the financial crisis as early as 2004 and whose fund Scion Capital was one of the first to short CDOs, is using his old fund’s site to express his views on the mortgage and financial crisis as well as to lash out at the U.S. Feds for not seeing what he saw and worse the investors who did not believed in him.

The New York Post reported that Burry was angry at those who ignored his predictions, particularly the U.S. government which he described as “absolutely complicit in enabling the housing bubble.”

Surprisingly, Burry, who is the central figure in Michael Lewis’s book, “The Big Short,” has been lavished with good press compared with Magnetar, the hedge fund exposed by the non-profit news group ProPublica, as driving the eventually devastating subprime boom in order to trade against mortgage securities it assisted banks in issuing.

In his book, Lewis said that Burry saw the world differently. The 32-year-old Burry first detected the huge bubble in the subprime-mortgaged bond market in 2004, then started to bet against it. The book also also provided details of almost comical dealings Burry made with Goldman Sachs and other banks as the market collapsed, and the true reason for his visionary obsession. – Precy Dumlao

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. David Einhorn speaks on passive investing, Mylan, his cheapest stock, the Fed[more]

    From Greenlight Capital hedge fund manager David Einhorn (Trades, Portfolio) joined nine other famed investors on Tuesday to talk about stocks at the annual Great Investors’ Best Ideas Investment Symposium in Dallas. Presenters at the annual conference typically pitch one or severa

  2. Investing - Fund set up to buy illiquid hedge fund stakes finds plenty of opportunities, Lansdowne's Roden says likes animal genetics company Genus[more]

    Fund set up to buy illiquid hedge fund stakes finds plenty of opportunities From As ValueWalk reported back in February, earlier this year Andrew Lawrence set out to raise $250 million to $500 million for a fund that will buy stakes in hedge funds that have suspended redem

  3. Opalesque Roundtable: Style drift, poor communications and credibility fatigue are biggest red flags for hedge funds investors[more]

    Komfie Manalo, Opalesque Asia: Style drift, poor communications and credibility fatigue are the biggest red flags for hedge funds investors, said participants of the latest 2016 Opalesque Investor Roundtable, sponso

  4. Barclay CTA Index down 0.40% in September (+0.10% YTD)[more]

    Managed futures traders lost 0.40% in September according to the Barclay CTA Index compiled by BarclayHedge. The Index is up 0.10% year to date. “The US Fed, in spite of its hawkish tone, opted to hold rates steady which roiled financial markets,” says Sol Waksman, founder and president of BarclayHe

  5. Opalesque Exclusive: Meet Emma, your friendly A.I. helper[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: Shaunka Khire, who co-designed an artificial intelligence (AI) robot called EMMA/MANSI, talks to Opalesque