Scion's Burry Plans Comeback

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.


In Depth

Part II: Roubini Talks Risk, Recovery And The Threat Of A Triple Dip Recession

Oct 21 2014 | 12:41pm ET

In the second half of our interview with Nouriel Roubini, FINalternatives editor...

Lifestyle

Balyasny Pays Over $6M For Lakefront House

Oct 22 2014 | 10:29am ET

A venture headed by hedge fund manager Dmitry Balyasny just paid $6.2 million for...

Guest Contributor

Hedge Funds Weather A Data Management Perfect Storm

Oct 22 2014 | 12:28pm ET

From a regulatory standpoint, nearly every development since the crisis has placed...

 

Videos

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

October 2014 Cover

Demeter: Family affair

David and James Hamman launched their fundamental Livestock and Grains Program in March of 2010 but it really was decades in the making.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.