Michael Burry of 'Big Short' fame deregisters Scion Asset Management

Famed investor Michael Burry's Scion Asset Management has terminated its registration status with the Securities and Exchange Commission, effective November 10.

Several posts on X circulated a photo of a letter dated October 27 from Burry to Scion's investors saying that he was winding down his fund.

"With a heavy heart, I will liquidate the funds and return capital—but for a small audit/tax holdback – by year’s end. My estimation of value in securities is not now, and has not been for some time, in sync with the markets," the letter said.