Sat, Jun 25, 2016
A A A
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. Opalesque Roundup: Hedge funds shrink as liquidations outpace new launches in Q1: hedge fund news, week 27[more]

    In the week ending 17 May, 2016, HFR said hedge fund liquidations declined narrowly to begin 2016 after rising sharply to conclude 2015, as investors positioned f

  2. Europe - Hedge funds keep powder dry over big Brexit bets, Hedge funds sense profit in Europe shock waves after Brexit vote, Soros warns Brexit may cause pound plunge worse than Black Wednesday, After Brexit: What will happen if Britain votes to leave the UK?[more]

    Hedge funds keep powder dry over big Brexit bets From FT.com: Hedge funds are shying away from big bets on Brexit, with many unwilling to risk further losses having already suffered a painful first half of the year. With the outcome of a UK vote on the country’s membership of the Europea

  3. News Briefs - ’Flash Boys’ get green light to launch stock exchange, Pimco says ‘storm is brewing’ in U.S. commercial real estate, Bankers get ready to rumble at Hedge Fund Fight Night, AIMA Australia celebrates 15th anniversary[more]

    ’Flash Boys’ get green light to launch stock exchange In an investing environment ruled by fast, the newest U.S. public stock exchange is banking on slow. Well, slower. IEX Group, which won Securities and Exchange Commission approval on Friday to go head-to-head with the New York Stock E

  4. Blackstone buys minority stake in New York-based credit hedge fund Marathon[more]

    Benedicte Gravrand, Opalesque Geneva: Blackstone Strategic Capital Holdings Fund, a vehicle managed by Blackstone Alternative Asset Management (BAAM), has acquired a passive, minority interest in Marathon Asset Management, for an undisclosed sum. Based in New York,

  5. Visium hedge fund manager Sanjay Valvani found dead[more]

    Benedicte Gravrand, Opalesque London: A hedge fund manager connected with an insider trading case has apparently committed suicide. Sanjay Valvani, 44, a hedge fund manager at New York-based Visium Asset Management, was found dead in an apparent suicide on 21 June in his Brooklyn residence,