Sun, Feb 25, 2018
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 Exclusive: Global Sigma captures February's long-vol trade[more]

    Bailey McCann, Opalesque New York for New Managers: Florida-based Global Sigma rode February's volatility to new highs. The firm's AGSF strategy is up +2.8 percent through February 16 and +4.2 percent YTD a

  2. Art & Motion launches collectible car alternative investment vehicle[more]

    Komfie Manalo, Opalesque Asia: Luxembourg-based Art & Motion has launched a new investment vehicle dedicated to vintage cars and exceptional high-quality vehicles as this collectible market has grown exponentially the turn of the centu

  3. Investing - Hedge funds turn short on tech just as stock rally takes off, After biggest short, speculators slash bearish US bond bets as supply deluge looms[more]

    Hedge funds turn short on tech just as stock rally takes off From Newsmax.com: A key group of investors has just missed out on the biggest tech-stock rally since 2014. Hedge funds and other large speculators turned net short on Nasdaq 100 Index futures for the first time in 21 months, ac

  4. Low volatility funds fail to protect investors[more]

    From FT.com: A number of exchange traded funds (ETFs) designed to protect investors from sharp stock market gyrations lost more money than mainstream US stocks during a sell-off this month, underperforming in precisely the conditions in which they were meant to thrive. Low volatility ETFs, lau

  5. Legal - Hedge funds fight to save M&A arbitrage strategy, Fannie Mae and Freddie Mac ruling blow to hedge funds[more]

    Hedge funds fight to save M&A arbitrage strategy From FT.com: Hedge funds which use the US courts to wring higher prices for merger and acquisition deals are fighting to save the lucrative investment strategy, after a Delaware court ruling that threatens to shut it down. Verition Partner