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MICHAEL BURRY: THE HOUSING MARKET IS “ARTIFICIAL”

MICHAEL BURRY: THE HOUSING MARKET IS “ARTIFICIAL”


Michael Burry, the former head of Scion Capital LLC who predicted the housing market’s plunge, talks with Bloomberg’s Jon Erlichman about his investments in agricultural land, real estate and gold.

Michael Lewis made him famous in his book “The Big Short”.

(This is an excerpt. Source: Bloomberg)

“I believe that agricultural land, productive agricultural land with water on site, will be very valuable in the future. And I’ve put a good amount of money into that. So I’m investing in alternative investments as well as stocks.”

“I think there is some value in real estate. You have to buy it right. It’s not in general, that’s the problem. I think that there are an awful lot of people out there looking to buy these distressed properties out there and so you need to find special situations. That is how I’ve invested from the beginning. I’m looking for these special situations, these unique ideas and that’s true in real estate too.”

“In my situation I’d rather go long on housing itself, real estate itself. Depending on how you structure it, in the real market, in the physical market, you can get some pretty good deals and I’ve done some of that too.”

“Paulson is big in gold and that is something is interesting to me and given how I see the world playing out. Other than that, I’m just saying, other than gold I haven’t really bought into the other…

Source: Bloomberg TV

Photographer: Tony Avelar/Bloomberg

© 2010-15 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



Posted in Bank Owned, bogus, CONTROL FRAUD, corruption, fannie mae, FED FRAUD, federal reserve board, foreclosure, foreclosure fraud, foreclosures, goldman sachs, heloc, insider, investigation, mbs, mortgage, naked short selling, Real Estate, rmbs, STOP FORECLOSURE FRAUD, stopforeclosurefraud.com, sub-prime, trade secrets, Wall StreetComments (1)

Hedge Fund Launches Massive Lawsuit against Goldman

Hedge Fund Launches Massive Lawsuit against Goldman


By Steve Eder and Matthew Goldstein

NEW YORK (Reuters) – An Australian hedge fund is suing Goldman Sachs Group Inc over an investment in a subprime mortgage-linked security that contributed to the fund’s demise in 2007.

The lawsuit filed on Wednesday accuses Goldman of misrepresenting the value of the notorious Timberwolf collateralized debt obligation, which garnered a lot of attention during a recent congressional hearing.

Basis Yield Alpha Fund sued Goldman to recoup the $56 million it lost on the CDO, said Eric Lewis, a Washington-based lawyer for the fund. The suit also seeks $1 billion in punitive damages.

continue reading… HERE

[ipaper docId=32830296 access_key=key-2wcu1f5esbi7zb2529a height=600 width=600 /]

© 2010-15 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



Posted in cdo, goldman sachs, lawsuitComments (0)


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