Fri, Jan 20, 2017
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. Investing - This hedge fund made 37% betting on banks in 2016 and remains bullish after the Trump rally, Hedge fund legend David Einhorn is making a big bet on GM, After impressive 85% return in 2016, hedge fund looks to Canadian gold producer, small banks[more]

    This hedge fund made 37% betting on banks in 2016 and remains bullish after the Trump rally From Forbes.com: Can bank stocks continue to rise after a 28% surge in the KBW Bank Index in 2016, fueled by a post-election rally as stock pickers returned to the beaten down sector? Forget the s

  2. SWFs - China sovereign wealth fund CIC plans more U.S. investments[more]

    From Reuters.com: China Investment Corporation (CIC), the country's sovereign wealth fund, is looking to raise alternative investments in the United States due to low returns in public markets, its chairman said on Monday. CIC will boost its investments in private equity and hedge funds as wel

  3. Some hedge funds strong start in 2017 nice contrast to 2016[more]

    With the 2016 HSBC Hedge Weekly performance rankings in the books - a year in which the same leader-board entries pretty much dominated unchallenged throughout the year - comes a new leader board that is a hard-scrabble mix of hedge fund styles and categories. What is clear after but a few short wee

  4. Macro hedge funds and CTAs outperform in December on strong dollar[more]

    Komfie Manalo, Opalesque Asia: The last month of 2016 saw risk assets climbing higher, as part of expectations that the new U.S. administration will remove barriers to growth and investment, Lyxor Asset Management said. December also saw the Fed hik

  5. Opalesque Exclusive: Roxbury credit events UCITS gathers more assets[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: The Roxbury Credit Events Fund, launched in September 2015, was up 4.24% in 2016, having returned seven positive months during the year. The managers raised