Investors & Traders · Macro & trading
Michael Burry
The neurologist-turned-investor who read mortgage prospectuses and bought credit default swaps against subprime: Scion's 489% net return, the investor revolt, and his later water, GameStop and index-bubble calls.
Step 1 of 4 · Overview25 min read ·
Key idea
Prereqs: The Big Short; Credit default swaps. Next: Skin in the Game. Sources: Michael Lewis, *The Big Short* (2010); Burry, 'I Saw the Crisis Coming' *NYT* op-ed (Apr 2010); Scion investor letters.Next: 1. The trade