Michael Burry described his style as Ick investing. Burry described this as follows: Ick investing means taking a special analytical interest in stocks that inspire a first reaction of ick. -Burry, in a 2001 letter to his investors. The common perception was moving in Burrys direction. In this manner, I have given up a portion of my own future profits in an effort to jump-start assets under management and hence reduce the expense ratio experienced by investors in the Fund. Does Michael Burry still own Lumen Technologies? At the same time, Scion Capital has acquired potent partners in terms of raising additional assets under management and thereby driving the expense ratio lower. He's a character in the film The Big Short, based on a real person called Greg Lippmann. Some commentators Read More, Augustin Lebron, formerly a trader and researcher at Jane Street Capital and now head of a consulting firm on decision-making, has written a refreshingly cerebral book, The Laws of Read More, Is there a link between public debt and growth? Dr. Michael Burry is best known for predicting the 2000s housing crash. The interest that dominated his early life was the study of medicine. He would search out the bonds with the worst underlying mortgages, those most likely to default. The estimated net worth of Michael Burry is $300 million. The Tesla bet is a little mysterious since it seems so risky. Finally, no member will owe taxes on this years profits, as a small tax-loss is built into the aforementioned gain. If the loan goes bad, the holder of the CDSs gets a payout. Burry made his name betting against the housing market in the 2000s, and was played by Christian Bale in the academy-award-winning 2015 mo. They simply accepted Standard & Poors rating, despite a large variance within the rating categories. CDSs on subprime mortgage bonds were reverse ick investments, in that they made money off of undue positive perceptions. Skywest Inc. (US:SKYW) It also surprised him that Deutsche Bank didnt care to differentiate these loans. Burry, in typical form, responded with, I am educating the experts here. This is never a truer quote, but this would not be a clue in Goldman Sachs (or anyone else) until the market proved Burry correct. Warren Buffett. The investor sold all their shares in Q2 2021 and doesn't own any shares in Lumen Technologies anymore. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); document.getElementById( "ak_js_2" ).setAttribute( "value", ( new Date() ).getTime() ); He quickly noticed people were following his blog more and more. Michael Burry - Wikipedia Scion Asset Management, LLC Portfolio Never miss a trade. This has had the effect of increasing the expense ratio for the rest of us. In order that this Funds performance escape the randomness of return that defines much of the investment management industry, it is imperative that I as manager respond only to the value of an individual investment when making capital allocation decisions.