Michael Burry de-registers his hedge fund. 'Onto much better things' he says.

By Steve Goldstein

Michael Burry, attending the premiere of "The Big Short" at Ziegfeld Theatre, is once again shutting down a hedge fund he runs.

Michael Burry, the provocative fund manager whose bets against the housing market were chronicled in "The Big Short," appears to be closing his hedge fund, a securities filing shows.

A filing with the Securities and Exchange Commission shows the registration status of Scion Asset Management, which as of March had $154 million in assets under management, was terminated on Monday. Registration is required for funds with over $100 million.

A viral social-media post that could not immediately be verified had a screenshot of a letter saying he was returning capital to investors and that "my estimation of value in securities is not now, and has not been for some time, in sync with the markets."

That would comport with his recent complaints about the valuation of artificial-intelligence-themed stocks, as well as his simple but ill-advised Jan. 31, 2023 post that simply read "sell." The total return for the S&P 500 SPX has been 75% since then, according to FactSet.

Burry hasn't directly addressed the closure but he's flagged on his increasingly active social media account that he will be "onto much better things" on Nov. 25, as he also chided the media for overstating how much he spent on a put contract on AI software company Palantir Technologies (PLTR), saying it was $9.2 million and not $912 million.

Related: Michael Burry says Oracle and Meta are wildly overvalued. Here's the root of his criticism.

In another post, Burry showed a still of Christian Bale portraying him, lying on the floor. "It worked out," he wrote. "It will work out."

Burry previously closed his first hedge fund, named Scion Capital, in 2008, before opening Scion Asset Management in 2013.

-Steve Goldstein

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