There’s an old Wall Street maxim, one I’ve lived and lost by: “The market can stay irrational longer than you can stay solvent.” And today, it just claimed another victim—one of the sharpest minds in the game. Michael Burry, the man who saw the housing collapse years before it hit the headlines, has officially pulled the plug. Scion Asset Management is no more. Liquidated. Gone. Let that sink in. This wasn’t some Reddit degenerate blowing up on margin. This was a seasoned trader, the very embodiment of due diligence, holding a clear and rational thesis: Palantir and Nvidia were drastically overvalued—bubbling with hype, detached from any traditional measure of value. He bet against them, heavy. And lost. Not because he…
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