Michael James Bury, aka Michael Bury, was born on June 19, 1971, in San Jose, California. Michael Bury’s net worth is estimated at USD 300 million.
His struggle began at the age of two when he lost his left eye to retinoblastoma. It is a rare form of cancer that develops rapidly from immature retinal cells after the event, his left eye was replaced with an artificial eye.
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Michael Burry’s Early Life & Education
Michael Bury grew up in San Jose, California, and attended Santa Teresa High School. He then joined the University of California, which is in Los Angeles, where he studied economics and his pre-medical studies.
He then officially earned a doctorate (MD) degree from Vanderbilt University School of Medicine, which is located in Nashville, Tennessee. Finance, always his main interest, started working as a part-time financial investor while he was off duty.
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Michael Burry’s Investment Career
Soon after, Michael was working as a doctor in the department of pathology and neurology at Stanford Hospital, he left his medical career behind to become a full-time financial investor and create his own hedge fund.
By the time he left his job, Michael Bury was a well-known figure in value investing. He always picked the right stock and was making profits.
Michael Bury’s success with his stock picks attracted the interest of companies such as Vanguard, and White Mountain Insurance Group, and prominent investors such as Joel Greenblatt.
Currently, Michael Burry is an angel investor, the manager of a Hedge Fund, and a doctor.
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Building A Net Worth Of 300 Million
In November 2000 Michael started his own hedge fund Scion Capital, using his personal assets and family support for funding. Right after the launch of his company, he started making rapid profits for his investors.
In 2001, Scion Capital had an average return on investment of about 55%. The overall market share was up 28.69% in 2003, but it was the wise choice of Michael Burry that beat the overall market growth and that being said, his overall return for the year was 50%.
He was already managing 600 Million USD in Scion Capital by the end of 2004. Your knowledge always pays you!
Between November 2000 to June 2008, the total returns that Michael’s Scion Capital earned a return of 489.34%
Burry made a personal profit of 100 Million USD, and his investors also earned a profit of 700 Million USD for their investment in credit default swaps.
In 2008, Michael Bury temporarily closed down his company and liquidated all his funds, then began to focus on his personal investments. Had he not closed his company, his company would have received financial bailout packages from the United States government during the recessions of 2008 and 2009.
Michael Burry reopened his company and renamed it to Scion Asset Management this time.
Personal Life OF Michael Burry
Bury currently resides in Saratoga, California. He is married and also a father. Buri’s son has been diagnosed with Asperger’s syndrome, a rare neurodevelopmental disease that makes it difficult for a person with the disease to interact socially and conduct nonverbal communication.
Michael Bury believes he himself has Asperger’s syndrome after his son’s diagnosis. It took a lot of energy to look people in the eyes as a child, which is why she believes she also has Asperger’s syndrome.
After suffering from several of these medical conditions, and seeing his son suffer from Asperger’s syndrome, Michael still stands and steadily increases his net worth.
Challenges make man perfect because the universe plays with only the best players and a select few. Michael Bury is one of the few who lost his left eye to cancer when he was only two years old. His challenges began at a young age and thus determined the course of his life.
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