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  • 1 year ago
The Cost of Giving

The Cost of Giving

Michael Burry was a hedge fund manager who was prominently featured in both the book and movie The Big Short. Before the housing crisis of 2008, Burry invested in such a way that he was betting against the success of the banks and housing industry. When his investors found this out, they were furious and threatened to sue him unless he immediately gave them back their money. He, however, invited his investors to trust him. While they were losing money in the short-run, he advised them that the move would pay off in the long-run. He was right. In the end, his company made returns of almost 500% for their investors. Imagine being an investor who pulled out when things got difficult. Imagine the grief of missing out on an amazing return because you were afraid to take the risk. The financial crisis put Michael Burry to the test, and he passed. He made good on all his promises. It also put his investors to the test. They were forced to decide whether or not he was worth the risk. When we f