Michael Burry Closes Fund

Nick Ewing

Business & Finance Manager 

Michael Burry, the investor who gained fame for predicting the 2008 financial crisis, has closed his hedge fund, Scion Asset Management. 

Burry made headlines nearly two decades ago when he correctly bet against the U.S. housing market, profiting from the collapse of subprime mortgages, a story later dramatized in the 2015 film, The Big Short. 

In a letter to clients, Burry explained that his fund would be liquidated and that all capital would be returned by year’s end. He admitted that his view of value in the current market no longer aligned with what he saw in the prices of securities. 

Recent filings showed that Scion had taken bearish positions on technology giants like Palantir and Nvidia, reflecting Burry’s cautious stance amid the current artificial intelligence (AI) and technology-driven market optimism.

At the time of closure, the fund managed roughly $155 million. Burry also addressed social media speculation, clarifying that his investment in Palantir put options was far smaller than previously reported. 

Deregistering the fund ends his obligation to submit public filings, signaling a step away from traditional hedge fund management.

On X, Burry hinted that he was moving on to “much better things,” suggesting that future projects might take a different form, possibly operating as a family office or pursuing personal ventures. 

This decision mirrors a broader trend of veteran investors stepping away from conventional funds, especially when markets favor rapid growth over value-focused investing.

Burry’s departure is a reminder of the rare foresight he displayed in 2008, when spotting a bubble that almost everyone else missed.