Huntr from Distress Debt Investing posted some excellent notes on Michael Burry’s speech at Vanderbilt University this past week. My colleague of Davian Letter, just found the full video, which was posted tonight.
Michael Burry became famous overnight when Michael Lewis released his best-seller, The Big Short. Burry who suffers from Aspergers, was originally a resident and planned on becoming a Doctor. He decided to quit the field and became obsessed with stocks. In 2000, Burry formed Scion Capital Scion produced really high returns in value stocks, before turning his attention to what he say as the emerging housing bubble in 2005. At some point during this period, Burry also was seeded with capital by legendary investor, Joel Greenblatt. Burry was featured by Lewis as one of the few investors who made a massive fortune by predicting and profiting off the housing people by buying Credit Default Swaps (CDSs) on securities he predicted would default.
Burry’s topic at Vandebilt was: “Missteps to Mayhem: Inside the Doomsday Machine with the Outsider who Predicted and Profited from America’s Financial Armageddon”
Below is the full video: