Michael Burry Annual Shareholder Letters

[Smith1776]

https://docs.google.com/file/d/0B5RCJK7 ... ef=2&pli=1

Just as the title of the thread says, these are the shareholder letters written by Michael Burry to investors in Scion Capital.

The intellectual heritage of Graham, Dodd, and Buffett rings loudly in his writing. The letters are incredibly insightful and well worth the read if you have some time.

[Hal]

Great find!

Thanks

[Smith1776]

Great find!

Thanks

I am enjoying all the papers and old forums posts of his on value investing that I can find. Perhaps we can compile Burry related material in this thread.

I really like Michael Burry as his social awkwardness (as seen in The Big Short) reminds me of myself. Like him, I find it much easier to connect with people online than in person.

[vnatale]

Great find!

Thanks

I am enjoying all the papers and old forums posts of his on value investing that I can find. Perhaps we can compile Burry related material in this thread.

I really like Michael Burry as his social awkwardness (as seen in The Big Short) reminds me of myself. Like him, I find it much easier to connect with people online than in person.

Amen to THAT one, Brother Smith1776!

Vinny

[Smith1776]

Amen to THAT one, Brother Smith1776!

Vinny

Let us celebrate our friendship and camaraderie by never meeting!

[vnatale]

Amen to THAT one, Brother Smith1776!

Vinny

Let us celebrate our friendship and camaraderie by never meeting!

At first it threw me....but then after about 7 seconds I FINALLY got it!

Vinny

[Smith1776]

Some of Michael Burry's old forum posts.

https://www.valuewalk.com/2014/04/micha ... -investor/

http://y0ungmoney.blogspot.com/2015/04/ ... estor.html

Buffett's buy-and-hold philosophy is his third incarnation, which comes of necessity due to the size requirement on his investments. And his absolute best years - the ten years of his partnership- were not of the buy-and-hold type. He was very successful flipping small caps for rather quick gains when he was able. I'm sure he would love to now if it would make any difference to him. Then again, with the REITs, maybe he did.

Could it be that by investing as Buffett does now, despite our tiny size, we are giving up the inherent advantage of being an individual, small investor?

To try to emulate Buffett perfectly without his full complement of skills and advantages (which I do not have, but any of you here might for all I know) seems foolhardy. So I take something else from Buffett - the willingness to improvise new investment parameters as fits my situation.

[Kriegsspiel]

The google doc is a great find. I find I really like reading these kind of simple investing synopses like Buffett and Edelweiss do.

[Smith1776]

Agreed.

The 2006 letters that detail the subprime bet are just awesome to read. The dude knew. He knew what was going to happen 2 years before just about anyone else did. That level of insight, man.

[Kriegsspiel]

Yea, he had the insight. But if you read the book (or watch the movie, it wasn't bad), he had a hell of a time with his investors!

[Smith1776]

Yeah, loved it. Hard to believe it's the same dude who played Batman. Testament to his acting I suppose.

Did you guys catch the Michael Burry cameo in The Big Short?

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[Kriegsspiel]

Yeah, loved it. Hard to believe it's the same dude who played Batman. Testament to his acting I suppose.

Christian Bale is awesome. American Psycho is, of course, his best film, but he's been in a lot of really good ones. I haven't even seen all of them, but other than American Psycho and The Big Short, he's in

• Rescue Dawn
• Equilibrium
• American Hustle
• Out Of The Furnace
• Harsh Times
• The Prestige
• Howl's Moving Castle (didn't even know he was in this)

Did you guys catch the Michael Burry cameo in The Big Short?

You know what... I didn't. IIRC he was pleased that he was played by Christian Bale though

[Mark Leavy]

Christian Bale is awesome. American Psycho is, of course, his best film, but he's been in a lot of really good ones. I haven't even seen all of them, but other than American Psycho and The Big Short, he's in

• Rescue Dawn
• Equilibrium
• American Hustle
• Out Of The Furnace
• Harsh Times
• The Prestige
• Howl's Moving Castle (didn't even know he was in this)

Did you guys catch the Michael Burry cameo in The Big Short?

You know what... I didn't. IIRC he was pleased that he was played by Christian Bale though

I watched "Vice" last night. He played Dick Cheney. And pulled it off. "Ford versus Ferrari" was amazing.
And then there was "The Machinist".

Not just a great actor, but also a shapeshifter.

[Kriegsspiel]

I watched "Vice" last night. He played Dick Cheney. And pulled it off. "Ford versus Ferrari" was amazing.
And then there was "The Machinist".

I haven't seen those, but I heard that Ford vs. Ferrari was good.

Not just a great actor, but also a shapeshifter.

LOL. Yea, between American Hustle and American Psycho and The Machinist, it's pretty incredible.

[Smith1776]

Dark Knight fo' life.

[Kriegsspiel]

You know what else is cool about Burry?

He likes metal. Like real men.

[Mark Leavy]

Dark Knight fo' life.

He was great in that. But I've been on a Tom Hardy binge lately. Another shape shifter. Hard to believe that the same guy played "Bane" in Dark Night and then a concrete foreman / project manager in "Locke"

[Kriegsspiel]

He was also in Band Of Brothers, he got to be the guy banging the hot German broad when Spears barges in

Also in Peaky Blinders.

[Kriegsspiel]

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