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Michael Burry of 'Big Short' Fame Deregisters Scion Asset Management
Scion Asset Management, managing $155 million, deregistered with the SEC amid Burry’s claims of inflated tech sector profits due to aggressive accounting practices.
- Michael Burry deregistered Scion Asset Management, LLC, reported by Reuters on Nov. 13, with SEC records showing its adviser status as 'terminated' on Nov. 10.
- The shutdown followed Scion's Nov. 3 13F filing after Michael Burry began winding down operations in an Oct. 27 letter and disclosed bearish put options on Nvidia and Palantir.
- The 13F showed 50,000 put contracts on Palantir, with a $9.2 million total outlay, despite media reports of a $912 million bet, and Scion managed about $155 million as of March.
- By terminating its SEC registration, Scion Asset Management no longer files public 13F filings, ending routine transparency and prompting analysts to say it may convert into a family office recently.
- Burry has argued that major tech firms' accounting could understate depreciation by about $176 billion between 2026 and 2028, and he teased `On to much better things Nov 25th` on X.
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Michael Burry, who became famous with the film The Big Short on the 2008 financial crisis, decided to close his hedge fund Scion Capital, in a context of growing concerns on Wall Street around the high valuations of technology giants and AI.
·Montreal, Canada
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After Attempting to Short the AI Bubble, the "Big Short" Guy Suddenly Closes Up Shop
Earlier this month, news emerged that Michael Burry, who famously shorted the US housing market before its collapse in 2008, had placed bets worth over $1 billion against the share prices of AI chipmaker Nvidia and software company Palantir. The reveal compounded existing concerns that the AI industry was growing into an enormous bubble that could take the US economy with it. However, the famed asset manager’s story has taken several wild turns …
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Total News Sources37
Leaning Left8Leaning Right3Center7Last UpdatedBias Distribution44% Left
Bias Distribution
- 44% of the sources lean Left
44% Left
L 44%
C 39%
R 17%
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