E-Paper
Who is Michael Burry and why did he deregister Scion Asset Management; Explained
Michael Burry has deregistered his hedge fund Scion Asset Management, ending SEC disclosures. As of March 2025, the fund managed about $155 million.
Michael Burry, the investor famed for his bold bet against the U.S. housing market in 2008, has taken a major step by deregistering his hedge fund Scion Asset Management as of November 10, 2025.
Deregistration means that Scion is no longer required to file public regulatory disclosures with the Securities and Exchange Commission(SEC). As of March 2025, according to his recent ADV filing, the fund managed roughly $155 million for four accounts.
Burry has also publicly voiced concerns that the current surge in artificial-intelligence-linked tech valuations may reflect a speculative bubble. On his social media account, he said of his pivot, “On to much better things Nov 25th”.
Read more: OpenAI wants US got to fund AI investments of more than $1 trillion
Why did he deregister Scion Asset Management?
On Wednesday night, Burry shared a screenshot of Scion's terminated status in an X post. The move was hinted at by the investor in his first post since April 2023 on October 30.
"Sometimes, we see bubbles," he wrote. "Sometimes, there is something to do about it. Sometimes, the only winning move is not to play."
According to Business Insider, Burry’s decision stems partly from his belief that his own “estimation of value … is not now … in sync with the markets” and a desire to step away from managing external investor capital.
With the S&P 500 and Nasdaq 100 recently reaching record highs, in his X posts, he equated the artificial intelligence boom to the dot-com bubble, raising chatter that AI speculation has driven market valuations to unsustainable levels.
Burry recently disclosed put-option bets on AI-heavy companies such as Nvidia and Palantir. In his X post on Wednesday, Burry clarified that he had spent a total of $9.2 million on 50,000 put option contracts on Palantir stock, each covering 100 shares at a premium of $1.84 a share.
His current move mirrors the 2008 move when he closed the Scion Capital Fund.
Reuters speculates the step might reflect the belief that the market regime has changed in ways that make typical hedge-fund strategies less reliable.
Who is Michael Burry?
Burry, the hedge-fund manager, was made famous by his prescient net against the US housing market. His move was also chronicled in the book and film The Big Short.
Burry began his career as a medical doctor before shifting wholly into finance. His first fund, Scion Capital, founded in 2000, earned him a reputation for successfully shorting the US subprime mortgage market before the 2007-2008 financial crisis. After closing that fund in 2008, he launched Scion Asset Management in 2013.
