"The Big Short" investor Michael Burry has de-registered his hedge fund, Scion Asset Management, according to SEC adviser records. The agency's database lists Scion's registration status as "terminated" effective November 10, 2025. Investment advisers with more than $100 million in regulatory assets must stay registered with the SEC, and Scion reported $154.93 million as of March, per its latest filing. A viral — though unverified — online post circulating today appears to show Burry's letter to investors dated October 27, in which he wrote: "My estimation of value in securities is not now, and has not been for some ... (full story)