Michael Burry — the man who shorted the American dream and made $1.3B

A doctor turned investor, Burry saw what Wall Street ignored:

“Safe” mortgage bonds were full of trash loans.

In 2005, he did the unthinkable:

— Walked into Goldman Sachs and asked to bet against the housing market

— Invented credit default swaps (CDS) for subprime mortgages

— Risked $1B+ of his hedge fund’s capital while everyone laughed

For two years, he bled.

Investors called him crazy. Some tried to pull out.

But in 2008, it all collapsed. And Burry? He cashed in.

$1.3 billion profit for his fund. $100M for himself.

And a new title: The Man Who Saw It Coming.