Scion Asset Management this week terminated its registration with US securities regulators, according to a Securities and Exchange Commission database. The move to close Scion comes as some investors have become concerned that markets are trading at frothy levels after years of strong returns. Burry disclosed a short position against defence group Palantir using derivatives that increase in value when share prices fall, according to a US regulatory filing earlier this month. The investor previously closed Scion Capital in 2008 following successful bets against mortgage-backed securities that Burry correctly deemed were worth far less than official ratings and market sentiment suggested. He reopened his hedge fund under the name Scion Asset Management a few years later.
