Michael Burry of 'Big Short' fame deregisters Scion Asset Management
Michael Burry, the famed investor behind The Big Short who successfully bet against the U.S. housing market in 2008, has deregistered his hedge fund, Scion Asset Management, according to the U.S. Securities and Exchange Commission (SEC).
The SEC database listed Scion’s registration status as terminated as of November 10, meaning the firm will no longer be required to file reports with federal or state regulators, News.Az reports, citing Reuters.
Scion managed about $155 million in assets as of March 2025. For years, Burry’s investment moves have drawn attention from investors searching for signs of potential market bubbles or instability.
On Wednesday, Burry posted cryptically on X:
“On to much better things Nov 25th.”
Neither Burry nor Scion Asset Management responded to Reuters’ request for comment.
In recent weeks, Burry has sharply criticized major technology companies including Nvidia, Palantir, Microsoft, Google, Oracle, and Meta, accusing them of using aggressive accounting methods to smooth profits from massive hardware investments in artificial intelligence infrastructure.
He has claimed that these companies are extending depreciation schedules to understate expenses, estimating that between 2026 and 2028, depreciation could be understated by $176 billion, inflating reported earnings.
Bruno Schneller, managing director at Erlen Capital Management, said:
“Burry’s decision feels less like calling it quits and more like stepping away from a game he believes is fundamentally rigged.”
He added that Burry could transition to a family-office setup, managing only his own capital privately.
Burry gained worldwide fame for his contrarian bet against subprime mortgage securities during the 2008 financial crisis — a story chronicled in Michael Lewis’s book “The Big Short” and its Oscar-winning film adaptation.
His X profile, “Cassandra Unchained,” references the Greek mythological figure Cassandra, who was cursed to deliver true prophecies that no one would believe.
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