Headline Feb05, 2013 /



Late one night in November 1996, while on cardiology rotation at Saint Thomas Hospital, in Nashville, Tennessee, Dr Mike Burry logged on to a hospital computer and went to message board called tech stocks.com.There he created a value thread called ''value investing''
Having read everything that there was to read about investing, it was time to enter the real world!!

Many people grumbled about the very idea of a doctor having anything useful to say about investments, but over time he came to dominate the discussion. Dr. Mike Burry -as he always signed himself -sensed that other people were taking his advise and making money with it.
Once he had figured out he had nothing more to learn from the crowd on his thread, he quit it to create what later would be called a blog but at the time was just weird form of communication. He's showing people his trades. And people are following it real time. He's up 50 percent. It's uncanny. He's uncanny!!''

When he shutdown his Web site and announced he was quitting neurology to become a money manager, the Chairman of the Stanford Department of neurology thought he'd lost his mind and told him to take a year off and think over it.

Burry did not think that investing could be reduced to a formula or learned from any one role model. The more he studied Buffet the less he thought Buffet could be copied. Indeed the lesson of Buffet was: To succeed in a spectacular fashion you had to spectacularly unusual.
''If you are going to be a great investor, you have to fit the style to who you are.''
At any rate, he went from being an indebted medical resident with a net worth of minus $105,000 to a millionaire many times over. Said an investment guru: ''Burry was obviously this brilliant guy, and there aren't that many of them.''

In his first full year, 2001, the S&P 500 fell 11.88 percent. Burry was up 55 percent. The next year S&P 500 fell again, by 22.1 percent, and yet Burry was up again: 16 percent. The next year, 2003, the stock market finally turned around and rose 28.6 percent, but Mike Burry beat it again -his investments rose by 50 percent.
By the end of 2004, Mike Burry was managing $600 million and turning money away.
A New York Fund Manager who watched Mike Burry's performance with growing incredulity summed up best : ''If he Had run his fund to maximize the amount he had under management, he'd have been running many, many billions and billions of dollars!''

With respectful and loving dedication to the memory of all time great performer: MICHAEL JACKSON!
His untimely death stripped the world of pure Joy!

Good Night & God Bless!

SAM Daily Times - the Voice of the Voiceless


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