Sunday, 29 November 2015
Last updated 1 day ago
Jun 21 2013 | 11:52am ET
Michael Burry, who made his name betting against subprime mortgages and as a figure in two major books about Wall Street, is set to launch a new hedge fund.
Burry shuttered his Scion Capital five years ago, having earned investors nearly 500% over its eight-year lifespan. But Burry has now set up Scion Asset Management and is seeking as much as $200 million for the new vehicle.
Santangel's Review's Steven Friedman notes that Scion Capital's Web site, which until recently simply housed "some of his historical letters" is now redirecting visitors to the "much more professional-looking" Scion Asset Management site.
Burry hopes to raise between $100 million and $200 million for the new effort, The Wall Street Journal reports. At its peak, Cupertino, Calif.-based Scion Capital managed about $1 billion.
Trained as a medical doctor, Burry returned outside capital from Scion to focus on managing his own money in 2008. He achieved a measure of fame when his exploits were recorded in both Michael Lewis' The Big Short and Gregory Zuckerman's The Greatest Trade Ever.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…