'Things are much better ahead': has the investor in the 'Downgrade Game' closed his fund?

US financier Michael Burry, whose play against the real estate market formed the basis of the plot of "The Downgrade Game", has withdrawn his hedge fund Scion Asset Management from registration with the US Securities and Exchange Commission (SEC), according to the public disclosure website run by the regulator.

Scion Asset Management's registration has been "terminated" as of Nov. 10, the site says. Such registration is mandatory for funds with assets over $100 million, MarketWatch notes. The termination of registration means that Scion no longer has to file reports with the SEC, which are publicly available and which investors and journalists routinely review to see what deals a fund is doing. Burry may be planning to further run Scion as a family office, which falls under advisory services and does not require SEC registration and disclosure, writes Investing.com.

Meanwhile, a screenshot of a letter Burry allegedly sent to investors on Oct. 27 to close Scion Asset Management and return capital has gone viral on social media. It says that his "valuation of the securities does not match - and has not matched for some time now - with market realities." However, the authenticity of the letter has not been confirmed.

Burry himself did not comment on the fund's closure. Only in his increasingly active account on social network X he hinted that on November 25 he would move on to "much more interesting things." He also rebuked the media for overestimating his spending on put options on shares of AI software developer Palantir Technologies, specifying that he spent $9.2 million, not $912 million. In another post, Burry posted a shot from the movie "Game of Thrones" in which Christian Bale, who played him, is lying on the floor. "It all worked out," he wrote. - And it will all work out."

This isn't the first time Burry has liquidated funds, MarketWatch recalls. In 2008, five years before launching Scion Asset Management, he closed his first fund, Scion Capital.

This article was AI-translated and verified by a human editor