HUNT VALLEY, Md. (TNND) — The investor on which “The Big Short,” the movie on financial bets against the housing market, was based on is closing his hedge fund, the Financial Times reported Friday.
Michael Burry, whom actor Christian Bale played in the film, is shutting down Scion Asset Management, according to the newspaper. The fund deregistered from the Securities and Exchange Commission on Monday.
Burry reportedly told investors in a letter last month that he would liquidate assets and return money to them by the end of the year. On Monday, he posted a photo on social media of a scene in “The Big Short” in which Bale is laying on the ground surrounded by papers.
“Me then, me now,” Burry captioned the picture. “Oh well. It worked out. It will work out.”
He founded Scion Asset Management in 2013, several years after he sold assets in the mortgage market to buy them back later, a strategy known as “shorting.” Burry reportedly made hundreds of millions of dollars.
He wrote in another X post on Monday that companies providing infrastructure for artificial intelligence systems were being dishonest. They have been understating depreciation expenses by estimating that computer chips are usable longer than is realistic, although The National News Desk (TNND) couldn’t confirm.
“Understating depreciation by extending useful life of assets artificially boosts earnings -one of the more common frauds of the modern era,” Burry explained. “Massively ramping [capital expenditure] through purchase of Nvidia chips/servers on a 2-3 yr product cycle should not result in the extension of useful lives of compute equipment. Yet this is exactly what all the hyperscalers have done.”
Burry added that the companies would understate depreciation by $176 billion from 2026 through 2028, but TNND couldn’t confirm.
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