However, he reduced the position by about 38% over the next six months. Scion Asset Management 13F annual report (2023) | wallmine His latest victory could stem from an unlikely source: GameStop. Scion Capital will fold its bill for these last two months into its bill for the 2001 fiscal year. They s, loan holders to hedge risk or by an investor who thinks the loans will go bad. From the end of September 2021 through Feb. 18, the drugmaker's stock returned 14.2%, compared to a 1.0% return for the S&P 500. Based on the duration of TLT, this means yields need to rise about 13 basis points per year for his trade to make money. [6] Scion Capitals performance history? : r/Burryology - Reddit The credit-default swap was a zero-sum game. The size of the options bets parallels the bet against housing that made Burry famous. Hence, according to a common interpretation of this Funds activities, the charter investors in the Fund myself included entered November invested in a hedge fund that was, by all convention, completely un-hedged. It is my opinion that the most stable, cost-effective, and eternal alternative to the Fund is the S&P 500 Index, and hence this index should be used as a benchmark. During the two months ended December 31, 2000, the Funds net performance bested that of the S&P 500 by 14.08%. The S&P 500, widely regarded as the benchmark for the US market, returned just under 3%, including dividends over the same period. Put your skills to the test with the Trader Career Path, our funding evaluation designed for traders to prove their skills and build a trading career. Jared Vennett receives a bonus of $47 million for all of his swap sales. At the same time, Scion Capital has acquired potent partners in terms of raising additional assets under management and thereby driving the expense ratio lower. To maintain his position, he let go of some of his staff and a fraction of his positions. Mariassunta Giannetti Michael Burry's investment strategy can be described as follows: Invest with a margin of safety. Scion Asset Management, LLC I alone will retain the majority economic interest in Scion Capital as well as the entire managing member interest. They were not the only ones to do this. Investors react to every move they make. Don't miss this opportunity! Scion increased its stakes compared to last quarter by buying another 676,600 bearish options. I generally lean towards fundamental, but I can't deny the money that people have made trading on momentum. How did Michael Burry predict the housing market? One is the absolute level of expenses, which should remain relatively fixed. For Burry to make money, TLT needs to fall 2.3 percent or greater per year. Joel told him he had been waiting for him to leave medicine and invited Michael and his wife to come to New York to meet. While striking, these statistics likely do little justice to the potential risk for those investors holding concentrated portfolios. Contact us to learn more. - Return on Equity Equity divided by market cap. But Burry, who has Asperger syndrome, struggled with client interaction after his huge success, and shut down Scion Capital in 2008 to focus on private investing. I believe that agriculture land productive agricultural land with water on site will be very valuable in the future, Burry says in an interview. An aggregator for Burry content. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Of course, Burry did not stop buying CDSs at this amount. Scion Asset Management, LLC Portfolio Never miss a trade. Now we'll see whether Burry is right about the trade swinging the other way, or if crowd psychology will continue to drive the market over fundamentals. The second party is White Mountains Management Company, a subsidiary of White Mountains Insurance Group, Ltd (symbol WTM on the New York Stock Exchange). I have no view on whether the market, broadly defined, will fall or rise during the coming year. What is Day Trading and How Does It Work. The Russell 2000 a measure of small companies with market values averaging just under $600 million stumbled 10.40%. as well as other partner offers and accept our, MORGAN STANLEY: Buy these 9 sports-betting stocks ahead of the industry's expected legalization in 12 states this year and its growth to $10 billion in 2025, Registration on or use of this site constitutes acceptance of our. 23. All rights reserved. I will most certainly notify you at once if any of these circumstances should change though you can be quite confident that you will not hear from me on this matter.
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