Michael Burry – The Man Who Bet Against America and Made $1 Billion

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In the early 2000s, Michael Burry, a doctor turned investor, looked closely at the U.S. housing market. He noticed something strange:

The mortgage bonds (called CDOs) that everyone thought were “safe” were actually full of risky loans.

While Wall Street kept buying these bad bonds, Burry saw a big problem. He realized it was a bubble waiting to pop.

What did he do?

Between 2005 and 2006, he made a bold move:

He went to big banks like Goldman Sachs and Deutsche Bank

He created special contracts (CDS) to bet against the housing market

He placed a huge bet—over $1 billion—using money from his hedge fund, Scion Capital

At first, people thought he was crazy. His fund was losing money, and investors were getting angry.

But then came 2008.

The housing market crashed.

Those mortgage bonds (CDOs) became worthless.

Result?

Burry made $1.3 billion for his investors—

and about $100 million for himself.