SAN FRANCISCO / LONDON (IT BOLTWISE) – Michael Burry, known for the film “The Big Short”, is closing his hedge fund Scion Asset Management. At the same time, he makes serious allegations against large tech companies such as NVIDIA and Palantir. Burry criticizes the accounting methods of these companies and announces further revelations.
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Michael Burry, who became known for his accurate predictions of the 2008 financial crisis, has decided to close his hedge fund Scion Asset Management. This decision comes as a surprise since Burry is considered one of the most astute investors in the financial world. In a letter to his investors, he explained that his assessments of market values no longer correspond to current developments.
In parallel with this announcement, Burry is making serious allegations against large technology and AI companies. He accuses them of keeping their depreciation artificially low by extending the useful life of hardware. This practice leads to distortion of reported profits, which he describes as one of the most common frauds of the modern era. His criticism particularly focuses on companies such as Oracle and Meta, which, according to Burry, significantly inflate their profits through questionable depreciation methods.
Reactions to Burry’s allegations have been mixed. While some industry experts share his concerns, others see it as just another controversial opinion from a well-known investor. However, Burry’s announcement that he will reveal more details on November 25th is causing excitement in the financial world. There is speculation that he may transition from a classic hedge fund model to a family office structure to retreat from the public spotlight.
In addition to his accounting allegations, Burry has built massive short positions against NVIDIA and Palantir. These bets indicate that he expects the prices of these companies to decline. Shares of Palantir and NVIDIA subsequently came under pressure, further adding to uncertainty in the industry. Burry’s influence on markets remains undisputed and his next moves are eagerly awaited.
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