Michael Burry, the investor made famous for his bet against the US housing market ahead of the 2008 financial crisis, is closing his hedge fund as he warned that market valuations had become unhinged from fundamentals.
Scion Asset Management this week terminated its registration with US securities regulators, according to a Securities and Exchange Commission database.
Burry told investors that he would “liquidate the funds and return capital — but for a small audit/tax holdback — by year’s end”, according to two people with direct knowledge of a letter he sent to investors.
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