Michael Burry: How I Made My First $1,000,000
Michael Burry is an American investor, hedge fund manager, and physician. He is best known for his successful bet against the US housing market in the mid-2000s, which was chronicled in the book and movie "The Big Short."
Burry was born in California in 1971 and graduated from Vanderbilt University with a degree in economics in 1995. He went on to attend medical school and received his M.D. from Vanderbilt in 2000. After practicing medicine for a short time, Burry decided to pursue a career in investing and started his own hedge fund, Scion Capital, in 2001.
In 2005, Burry began to research the US housing market and became convinced that the market was overvalued and would collapse. He began buying credit default swaps on subprime mortgage bonds, which allowed him to profit when the market did collapse in 2007 and 2008.
Burry's bet against the housing market made him and his investors a significant amount of money and garnered him widespread attention. He closed his fund in 2008 and has since continued to invest in the stock market through his personal investment firm, Scion Asset Management.
Burry has been known for his contrarian investment strategies and willingness to go against conventional wisdom. He has also been an advocate for transparency and accountability in the financial industry, and has spoken out against what he sees as unethical practices and conflicts of interest.