Michael Burry's Bold Move: Scion Asset Management Deregisters Amidst Market Speculations

Michael Burry, noted for his successful bet against the 2008 housing market, has deregistered his hedge fund, Scion Asset Management. This implies the fund will no longer file reports with the SEC. Burry has criticized major tech firms for questionable accounting practices, while hinting at new ventures ahead.

Renowned investor Michael Burry, famous for his correct prediction of the 2008 housing market collapse, has taken a strategic step by deregistering his hedge fund, Scion Asset Management. This action exempts the fund from filing regulatory reports, stirring curiosity within financial circles.

Burry has recently spotlighted tech giants like Nvidia and Palantir Technologies for their aggressive accounting methods, which he argues inflate profits. His statements suggest that the depreciation schedules of investments in infrastructure could misstate future profits, particularly from 2026 to 2028.

The investor, known for his skeptical view on subprime mortgage securities, subtly indicates a shift in focus towards potentially more lucrative opportunities. Despite deregistering, Burry's insights on social media continue to intrigue financial analysts and investors worldwide.

(With inputs from agencies.)