Michael Burry Steps Away: The Unraveling of Scion Asset Management

Michael Burry, known for his 2008 housing market bet, has deregistered his Scion Asset Management. The deregistration suggests an exit from mandatory regulatory filings. Burry remains critical of tech giants Nvidia and Palantir, forecasting inflated profits due to accounting tactics while hinting at new ventures ahead.

Michael Burry, the esteemed investor famously depicted in 'The Big Short,' has made a significant move by deregistering his hedge fund, Scion Asset Management. This latest step suggests Burry's shift away from regulatory obligations, as seen in the SEC's 'terminated' status for Scion.

Burry has vocally opposed the tactics of tech titans, notably Nvidia and Palantir, accusing them of using aggressive accounting methods to artificially boost profits. His recent strategic acquisition of $9.2 million worth of put options on Palantir underscores his bearish outlook on the currently booming AI market.

The investor's penchant for spotting bubbles and market froth persists. Even as AI-related stocks dominate S&P 500 returns, Burry's prophetic warnings echo, much like his famously accurate predictions during the 2008 crisis. Observers speculate that Burry might pivot to a family-office business model, navigating financial landscapes with newfound freedom.

(With inputs from agencies.)