{"id":54269,"date":"2025-11-15T08:39:34","date_gmt":"2025-11-15T08:39:34","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ca\/54269\/"},"modified":"2025-11-15T08:39:34","modified_gmt":"2025-11-15T08:39:34","slug":"the-big-short-investor-closes-hedge-fund-report-says","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ca\/54269\/","title":{"rendered":"‘The Big Short’ investor closes hedge fund, report says"},"content":{"rendered":"

HUNT VALLEY, Md. (TNND) \u2014 The investor on which \u201cThe Big Short,\u201d the movie on financial bets against the housing market, was based on is closing his hedge fund, the Financial Times reported <\/a>Friday.<\/p>\n

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.<\/p>\n

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>a photo on social media of a scene in \u201cThe Big Short\u201d in which Bale is laying on the ground surrounded by papers.<\/p>\n

\u201cMe then, me now,\u201d Burry captioned the picture. \u201cOh well. It worked out. It will work out.\u201d<\/p>\n

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 \u201cshorting.\u201d Burry reportedly made hundreds of millions of dollars.<\/p>\n

He wrote in another X post<\/a> on Monday that companies providing infrastructure for artificial intelligence <\/a>systems were being dishonest. They have been understating depreciation expenses by estimating that computer chips<\/a> are usable longer than is realistic, although The National News Desk (TNND) couldn\u2019t confirm.<\/p>\n

\u201cUnderstating depreciation by extending useful life of assets artificially boosts earnings -one of the more common frauds of the modern era,\u201d Burry explained. \u201cMassively 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.\u201d<\/p>\n

Burry added that the companies would understate depreciation by $176 billion from 2026 through 2028, but TNND couldn\u2019t confirm.<\/p>\n

Comment with Bubbles<\/p>\n

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Have questions, concerns or tips? Send them to Ray at rjlewis@sbgtv.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"HUNT VALLEY, Md. (TNND) \u2014 The investor on which \u201cThe Big Short,\u201d the movie on financial bets against…\n","protected":false},"author":2,"featured_media":54270,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[151,153,152],"class_list":["post-54269","post","type-post","status-publish","format-standard","has-post-thumbnail","category-bakersfield","tag-bakersfield","tag-bakersfield-headlines","tag-bakersfield-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/54269","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/comments?post=54269"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/54269\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media\/54270"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media?parent=54269"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/categories?post=54269"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/tags?post=54269"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}