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Michael Burry's Story: The Trader Who Predicted the 2008 Financial Crisis

Michael Burry's success in predicting the US economic downturn in 2008 makes him one of the most successful traders and investors. Here is the complete story of his career journey and some lessons that can be learned from his success:

Early Life 

Originally, Michael Burry had no intention of becoming an investor or hedge fund manager. Born in San Jose, California, in June 1971, Burry faced a difficult childhood after being diagnosed with cancer at the age of two. Additionally, he also suffered from Asperger's Syndrome and lost one of his eyes due to the illness. However, after recovering, his interests shifted to the medical field. After completing pre-med and economics programs at the University of California, Burry continued his studies at Vanderbilt University School of Medicine and earned an MD degree. However, during his residency program at Stanford Hospital and Clinics, he became interested in the investment world.

Career Change 

While interning as a young doctor at Stanford University Hospital, Burry lived in Silicon Valley, which was buzzing with various IPOs. From there, he began to notice the dot-com and property bubbles. Eventually, he left his medical career and decided to focus on investing. In 2000, Burry founded the hedge fund Scion Capital, which focused on in-depth research and long-term value. With initial funding from his parents, the fund grew rapidly and achieved significant profits.

Prediction of the 2008 Financial Crisis 

Burry became famous for his prediction of the 2008 financial crisis. In 2003, he began to notice signs of the property bubble and instability in the subprime mortgage market. Despite much skepticism, Burry remained confident in his analysis and decided to bet against the big banks through short-selling. This decision brought him huge profits and positioned him as one of the leading investors in the United States.

Not a "Risk Taker," but a "Risk Avoider" 

Although known as a "big short-seller," Burry was actually more inclined as a "risk avoider." His careful analysis and deep understanding of the market allowed him to avoid unnecessary risks. His concern for fundamental factors and awareness of market psychology enabled him to make the right investment decisions at the right time.

Michael Burry's story is a testament that success in the investment world does not always depend on a specific background or education. With dedication, deep knowledge, and the courage to act based on strong analysis, one can achieve extraordinary success as Burry has demonstrated. His story inspires many to become smart and responsible investors in managing their wealth.


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