Legend Michael Burry’s big moves since ‘Big Short’ — From 2008 Wall St. collapse to shutting firm Scion Asset Management

Legendary Wall Street investor Michael Burry, known worldwide for the popular Hollywood movie ‘The Big Short’, hit the headlines again this week following news that he had closed down his hedge fund Scion Asset Management.

According to data on the Securities and Exchange Commission (SEC) website, US-based Scion Asset Management, founded by Michael Burry, terminated its registration status on November 10, 2025.

Who is Michael Burry?

Known on Wall Street for his wild predictions, Michael Burry is most popular as a hedge fund portfolio manager who bet against the US housing market in 2008 using a financial instrument known as credit default swaps (CDS).

It is noteworthy that, especially in his prediction as early as 2007, he identified irregularities that would trigger the 2008 financial crisis. The collapse of the broader market due to the subprime mortgage crisis catapulted the investor to global fame; He made $100 million on his bets in 2008 because his portfolio held insurance against these bonds.

His experiences were later turned into a 2010 best-selling book called ‘The Big Short: Inside the Doomsday Machine’ by Michael Lewis. The book was later turned into a 2015 movie starring Hollywood stars Ryan Gosling, Steve Carell and Christian Bale.

Warning about AI and tech company fundamentals

• More recently in 2025, Burry warned that AI and technology companies will suffer similar inflation. Last week he also called for bearish stances on Wall Street favorites Nvidia and Palantir, warning that artificial intelligence is fueling this year’s market rally. And in a Nov. 10 social media post, he highlighted how artificially extending the useful life of assets could boost company earnings. He described the move as ‘one of the most widespread frauds of the modern era’.
• In his assessment of major technology companies purchasing semiconductor chips or servers from Nvidia, Burry said that such equipment, with its two- to three-year product cycle, should not lead to an extended lifespan of computer equipment.
• “Yet that’s exactly what all the hyperscalers are doing. My estimates are that they’ll understate depreciation by $176 billion from 2026-2028. By 2028, Oracle will overstate earnings by 26.9%, Meta by 20.8%. But it’s getting worse. More details to come on November 25th. Stay tuned,” Burry said on X.

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