![the big short michael burry the big short michael burry](https://smartcdn.prod.postmedia.digital/financialpost/wp-content/uploads/2020/04/michael-burry.jpg)
Keith Gill, an investor who is famous on Reddit as DFV recently lost $13 million on his GameStop investment due to the cratering share price. Cohen would have made even more money than Burry based on the size of his initial investment, at least on paper. Ryan Cohen, the billionaire founder of Chewy, made an even bigger investment in GameStop with a 10% stake late last year and he has now joined the board of directors at GameStop. Because there hasn't big any real upturn in the retailer's business-it's closing stores at a fast rate-the price is extremely volatile.Īs part of his investment in GameStop, Burry is said to have called on the retailer to make changes to its business to improve results. Just last summer, the stock price was a tiny fraction of what it is now. Without knowing the specifics of Burry's holdings and positions, we can't say for sure how well he's done with GameStop, but clearly he's made big money, at least on paper. This is unnatural, insane, and dangerous."
![the big short michael burry the big short michael burry](https://i.pinimg.com/736x/52/2a/8f/522a8f96d5f050deba72b4de61a7472a.jpg)
"However, what is going on now-there should be legal and regulatory repercussions. "If I put $GME on your radar, and you did well, I'm genuinely happy for you," he said.
![the big short michael burry the big short michael burry](http://fourteeneastmag.com/wp-content/uploads/2017/01/Screen-Shot-2017-01-12-at-7.17.39-PM.png)
In a since-deleted tweet seen by Business Insider, Burry said the situation going on around GameStop's stock price is "unnatural, insane, and dangerous." During that financial crisis, he made money betting against subprime mortgage loans, seeing that the bubble was about to burst. It's interesting, as he took the opposite tactic that he took in 2008. He's now turned that into $271 million thanks to the meteoric rise of GameStop.Īccording to reports, Burry made $800 million from the bets he made during the 2008 financial crisis, and now he's even richer thanks to his investments in GameStop. MoneyWeb reported that Burry's company, Scion Asset Management, purchased 3 million shares in GameStop back in 2019, which were worth $16.56 million at the time. In fact, it's far more than any of the Reddit investors. Instead of shorting a stock this time, he played the long game and managed to make an incredible amount of money. Michael Burry, the hedge fund manager portrayed by Christian Bale in The Big Short, has made a fortune on GameStop's stock after holding it for years.