Michael Burry competed against the mortgage market and earned $100 million. Even an Oscar nominated film that tells his story, starring Christian Bale playing his role.
A man with a glass eye and Asperger syndrome, who studied medicine instead of a career in finance but led an investment fund. An executive who wore shirts and goes barefoot walking by his office, listening to loud heavy metal music and analyzing reports.
He is portrayed in the film The Big Shot, the investor who found that the market for subprime mortgages that was a gigantic castle of cards and crash in the financial crisis of 2008. Everyone said that the housing market was anticipated the sure, but Michael Burry bet against the market and won a lot of money.
He was convinced that they were going to explode in a matter of years, the moment in which to raise the interest that the system had remained low. In 2007 mortgage loans could not be paid as planned. He and the investors in its fund achieved a net profit of 489.34%. Burry only grossed $100 million for him. After that he closed the fund and devoted himself to manage his personal fortune.
Not bad for a person who started in finance with a blog giving advice on how to invest money in an online way. A task that met in his spare time while working in a hospital. Burry started his fund, Scion Capital at 28 years old, taking credits that he had obtained for his studies and family loans. Three years later, he managed $600 million.
Today Michael Burry believes that another crisis is near. In a recent interview, Burry said the United States is again in the same situation as when collapsed: trying to stimulate growth through easy money. And to accumulate debts.
His new adventure is in water, investing in food that grown in areas rich in water and transported to others where this resource is scarce. Michael Burry is also optimistic of innovations in health and in general, with projects that improve the lives of people. The man who predicted the end is excited about some aspects of the future.