“Big Short” investor Michael Burry told Elon Musk to cash in Tesla shares, gave up being as popular as Warren Buffett and wanted more credit for his real estate bet. Here are his 14 best quotes.

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“It gets morbid when you start making investments that work really well in a tragedy,” Burry told a friend.

  • Michael Burry, the hedge fund manager played by Christian Bale in “The Big Short,” gambled against subprime mortgages and made his fortune when the US housing bubble burst in 2007 and 2008.
  • The Scion Asset Management boss said he gave up early on being as popular as Warren Buffett, tweeted Elon Musk that he should take advantage of Tesla’s high share price and lamented the lack of credit which he received for his bet on housing.
  • Here are the 14 best quotes from Burry.
  • Visit the Business Insider homepage for more stories.

“Big Short” investor Michael Burry has said he ruled out becoming as popular as Warren Buffett, advised Elon Musk to cash in on Tesla’s share price, and complained about the lack of praise. ‘he received for betting correctly on the US housing bubble. would burst.

Burry, founder and boss of Scion Asset Management, made $ 750 million in profits for his investors and $ 100 million personally when his bet against subprime mortgages paid off in 2007 and 2008. He was played by Christian Bale in the film adaptation of Michael Lewis’ book.

Here are the 14 best quotes from Burry. The first 12 are taken from emails, investor letters and interviews with Lewis detailed in “The Big Short”.

1. “If you want to be a great investor, you have to tailor the style to who you are. ”

  1. “Buffett was too popular for me. I will never be a lovable grandfather. ”
  2. “The late 90s almost forced me to identify as a value investor because I thought what everyone was doing was crazy. ”
  3. “I don’t bet against an obligation. I bet against a system. “- referring to his bet on the collapse of the real estate market

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  1. “What you want to watch are the lenders, not the borrowers. Borrowers will always be willing to take a lot for themselves. It’s up to lenders to show restraint, and when they lose it, be careful. ”
  2. “I don’t take a break from my search for value. There is no golf or other pastime to distract me. Seeing the value is what I do. ”
  3. “I’ve always believed that one talented, very hard-working analyst could cover an incredible amount of the investment landscape, and that belief remains unchallenged in my mind. ”
  4. “I build breathtaking sandcastles, but nothing prevents the tide from coming and going and coming. “- describing the constant pressure he has been under from clients while building his positions and waiting for the real estate market to implode

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  1. “I have a job to do. Earn money for my clients. Period. But boy, it gets morbid when you start making investments that work really well if a tragedy occurs. ”
  2. “One of the oldest adages in investing is that if you read about it in the newspaper, it is too late. Not this time. “- arguing that the risks of mortgage-backed securities were glaring but not reflected in their prices
  3. “It is ludicrous to believe that asset bubbles can only be recognized in retrospect. ”
  4. “It was as if they had taken a swimmer to the Olympics and made him swim in another pool. His time won the gold medal. But he didn’t get any medals. I honestly think that’s what killed him for me. I was looking for recognition. There were none. “- bemoaning the lack of credit he received for his wise investments

Read more: Tesla has climbed 615% this year. Biggest bull in the stock and 3 other pundits break down where he might go from here as he becomes the biggest newcomer to the S&P 500 in 2 weeks.

  1. “There is all this opportunity, but so few active managers are looking to take advantage of it. “- highlighting the money to be made in unloved assets during the current passive investing ‘bubble’
  2. “So @elonmusk yeah I’m running out of Tesla, but some free advice for a good guy… Seriously, issue 25-50% of your stock at the current ridiculous price. It is not a dilution. to be the glue of permanence and incomparable option. “- advising the CEO of the electric car maker in a now deleted tweet to sell a load of Tesla shares at their exorbitant price, generating money to be used elsewhere

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