Welcome to Scribd. Sign in or start your free trial to enjoy unlimited e-books, audiobooks & documents.Find out more
Download
Standard view
Full view
of .
Look up keyword
Like this
7Activity
P. 1
Burry_Writeups

Burry_Writeups

Ratings: (0)|Views: 329|Likes:
Published by eclecticvalue
Michael Burry writeups from VIC. For educational purposes.
Michael Burry writeups from VIC. For educational purposes.

More info:

Published by: eclecticvalue on Nov 26, 2011
Copyright:Attribution Non-commercial

Availability:

Read on Scribd mobile: iPhone, iPad and Android.
download as PDF or read online from Scribd
See more
See less

08/09/2014

pdf

 
E bkjr-nzkk lkr lkr }rcmi! lcw }dcwflg kezlflg} gzcwrd elb mcl}f}rklmv ncz rdk nfz}r rf`k, Ilcwl ncz fr}rzebflg zelgk! wfrd rdk dfgd} fl rdk zelgk {}{eaav xzcb{mkb jv }c`k jfr cn gccb lkw} xefzkb rc acwnacer! j{r rdkzk ezk }c`k mdelgk} enccr rder }dc{ab }kr fr nzkk rc rdk {x}fbk,GR]F bf}rzfj{rk} rkmdlcacgv xzcb{mr} rc rdk `fafrezv! rdk FZ] elb crdkz}, J}fmeaav! e J:G bf}rzfj{rcz,@ezikr Mex er 28 `faa! }eak} c~kz ">;8 `faa, Acw `ezgfl }r{nn, E} afik elv bf}rzfj{rcz! rdkv de~k rc de~kdcr delb}! elb jv elb aezgk rdkv bc, Acmerkb o{}r c{r}fbk B,M, Lkw `elegk`klr ezzf~kb 2 vkez} egc elbde} }rezrkb r{zlflg ezc{lb e `clkv-ac}flg cxkzerfcl, Lcw! wcziflg mexfrea f} lcr c~kzav jacerkb! rdkvr{zl fl~klrczv wkaa $5: r{zl}#vkez&! elb EZ flmzke}k} `ermd EX flmzke}k} wkaa, Rdkv wkzk xzcnfrejak nczrdk rdfzb }rzefgdr n{aa vkez lkw `elegk`klr de} jkkl fl xaemk! elb GR]F f} }rezrflg rc }kk gzc}} `ezgflkldelmk`klr nzc` dewif}d wcziflg mexfrea `elegk`klr! mc}r mclrzca}! `czk ne~czejak mclrzemr}! elbflmzke}kb }eak}, Rdk zk}{ar? "5,5; fl bfa{rkb kezlflg} ae}r vkez! j{r rder we} wfrd zk}fb{ea ret ac}}k}mzkerflg e refawflb,@elegk`klr de} gf~kl g{fbelmk! dcwk~kz! rder rdkv wfaa jker ae}r vkez'} kezlflg} xkz }dezk k~kl enrkzn{aa retk} ezk xefb rdf} vkez, ]c zfgdr cnn rdk jer wk de~k el dclk}r XK ak}} rdel ;! lc bkjr! elb elf`xzc~flg j{}flk}} wfrd mexejak `elegk`klr elb flmzke}flg mclrzemr wfl},@elegk`klr de} jc{gdr rdk }rcmi eggzk}}f~kav {x rc o{}r {lbkz 2! elb rdkzk f} e aezgk c{r}fbk}dezkdcabkz fl Aemv Aflwccb! clk cn rdk nc{lbkz} cn Flgze`, Aflwccb de} ea}c jkkl emu{fzflg }dezk} flrdk cxkl `ezikr - dk'} rdk clk xzc~fbflg eaa rder }{xxczr ezc{lb = rdk xe}r nkw vkez} - elb lcw clk}c~kz :;+ cn rdk }d} c{r, K`xacvkk} ezk xezrfmfxerflg fl rdk k`xacvkk }rcmi xael j{r `elv ezk ea}cj{vflg ak}}kz e`c{lr} cn }rcmi fl rdk cxkl `ezikr,Fl ebbfrfcl rc rdk cj~fc{} eb~elregk} cn de~flg e aezgk c{r}fbk }dezkdcabkz wfrd el faafu{fb }reik!Aflwccb ea}c xzc~fbk} }c`k eaak~ferfcl rc rdk nkez rder Flgze` cz fr} fai wc{ab o{`x fl elb mc`xkrkGR]F c{r, Fn elvrdflg! df} emrfcl} }kk` rc flbfmerk GR]F `eik} e gccb reikc{r ncz }{md e mc`xelv $df}}reik f} ~kzv ~kzv faafu{fb fl rkz`} cn x{jafm `ezikr ktfr }rzerkgfk} vkr dk j{v} `czk&,Fl nemr! ilcwflg rdk j{}flk}} `kel} ilcwflg rder }{md mc`xkrfrfcl f}l'r `{md cn e zf}i elvwev, E} wfrde acr cn gc~kzl`klr ~klbcz }r{nn! rdf} f} e zkaerfcl}dfx} j{}flk}}, GR]F f} wkaa-flgzeflkb flrc rdkxzcm{zk`klr }v}rk`! elb de} ktxkzrf}k fl gkrrflg rdk zfgdr ncz`} fl rdk zfgdr delb} er rdk zfgdr rf`k,GR]F o{}r wcl rdk @@EB mclrzemr ncz c~kz "4;7 `faafcl fl rkmdlcacgv xzcb{mr} rc jk }{xxafkb rc rdk`fafrezv! FZ]! elb crdkz jzelmdk} cn gc~kzl`klr c~kz ; vkez}, Rdk lkw} cn rdf} ewezb }klr rdk }rcmi}ivzcmikrflg ae}r vkez, E xzcrk}r we} acbgkb! wdfmd we} zk}ca~kb fl GR]F'} ne~cz, Rdk xccz }rcmi `ezikrde} dkaxkb }rfnak elv xc}frf~k zkemrfcl fl rdk }rcmi, J{r rdk wfl f} flbkkb zkea! elb rdk mc`xelv f}l'r }{zkwdv rdk }rcmi bfbl'r zkemr afik fr de} fl rdk xe}r rc }{md ellc{lmk`klr}, Flbkkb! fl rdk 2 dc{z} cz }cenrkz rdk lkw} we} ellc{lmkb! clav 7!888 }dezk} rzebkb delb},
GR]F Mczx$GR]F& - ";,88 cl @ez :4! :885
 
GR]F wfaa mc`xkrk wfrd FJ@ ncz jfb} rc }{xxav ~ezfc{} xzcokmr} {lbkz rdk @@EB mclrzemr, GR]F f}mclnfbklr cn gkrrflg rdk `eoczfrv cn rdk `clkv nzc` rdf} mclrzemr jkme{}k df}rczfmeaav rdkv de~k bclk }cwdkl mc`xkrflg egefl}r jfg le`k }{xxafkz}, Wdv3 Je}fmeaav GR]F f} wfaaflg rc xev `czk errklrfcl rc rdkxzcmk}} elb gkr bcwl elb bfzrv fl rdk wdcak gc~kzl`klr xzcm{zk`klr ezke, Rdkv `eik `clkv ncz rdk}e`k zke}cl xa{`jkz} gkr xefb wkaa, E} wkaa! rdkv de~k rdk aclg}relbflg zkaerfcl}dfx} cl rdkfz }fbk,Rdk rzebflg }rzerkgv wfrd rdf} }rcmi de} eawev} jkkl rc j{v o{}r {lbkz = elb wefr ncz e }xfik - rdkzk de~kjkkl e nkw - elb }kaa fr, Rdk ae}r rwc }xfik} de~k cmm{zzkb enrkz rdk ae}r rwc u{ezrkz} xzcb{mkb jacwc{rkezlflg}, Rdk }rcmi f} }rezrflg rc }rfmi er dfgdkz xzfmk} rdc{gd! e} rdk `czk xkz`elklr ler{zk cn rdkxc}frf~k mdelgk} fl rdk mc`xelv f} gkrrflg lcrfmkb, Ncz rdk nfz}r rf`k! rz{k n{lbe`klrea mdelgk ncz rdkjkrrkz f} }rezrflg rc gefl rzemrfcl fl }{}reflejav dfgdkz }rcmi xzfmk}, E lfmk rzklb rc ocfl kezav,Ea}c! jkme{}k rdk j{vkz dkzk f} rdk gc~kzl`klr! rdkzk f} e rzk`klbc{} j{far-fl jemiacg cn bk`elb, Rdkmc`x{rkz ku{fx`klr er rdk FZ]! ncz fl}relmk! we} akgklbezv e bkmebk egc, Elb rdk bk`elb f} }ke}clea$gc~kzl`klr f} e xzcmze}rflercz! z{}dflg rc j{v e acr er rdk klb cn mclrzemr rkz`} elb er rdk klb cn vkez}! rdkzknczk `eiflg mclrzemr} `czk xzcnfrejak aerkz fl rdk mvmak elb vkez} `czk xzcnfrejak e} rdku{ezrkz} wkez cl&! j{r lcr mvmafmea, @czkc~kz! cj}cak}mklmk f} ak}} el f}}{k jkme{}k rdk gc~kzl`klrbck}l'r bk`elb rdk aerk}r elb gzkerk}r, @elegk`klr f} reiflg eb~elregk cn rdk eb~elregk} cn wcziflgwfrd rdk gc~kzl`klr wdfak `flf`fflg rdk bf}eb~elregk},Rdkzk f} e acr cn cxkzerflg ak~kzegk fl rdk j{}flk}} rder f} o{}r }rezrflg rc jk zkeafkb cl rdk xc}frf~k }fbk$rdkv ac}r c~kz ":#}dezk jknczk lkw `elegk`klr me`k fl&! elb wfrd nkw }dezk} c{r}relbflg! fr wc{ablcr jk }{zxzf}flg fn xzk-ret flmc`k }rezr} rc exxzctf`erk rdk }dezk xzfmk `v}kan elb crdkz} xefb jemi flrdk "= zelgk ae}r vkez, Afik J{nnkrr'} WXC! rdc{gd cl e `{md! `{md }`eaakz }meak, F'` }rfaa emm{`{aerflgrdk }rcmi,E zf}i f} e reik{lbkz, F wc{abl'r gkr rcc ktrklbkb fl `v j{v} nzc` rdk xzfmk rdk aezgk }dezkdcabkz elb`elegk`klr de~k xefb $wdfmd zelgk} {x rc =,7;&, F'` j{vflg {x rc ;, J{vflg er > elb wefrflg = vkez} rcjk jc{gdr c{r er 7 wc{abl'r jk ~kzv n{l,E} e }fbk lcrk! cl rdk ae}r mclnkzklmk meaa! e xzf~erk fl~k}rcz meaakb fl elb FB'b dkz}kan e} el k`xacvkk cn GR]F, Rdf} we} el kzzcz! rdc{gd F ilcw e nkw fl~k}rcz} wdc}k flfrfea zkemrfcl we} rder }c`krdflg }r{li, Fwe} clk cn rdk`,Gzc}} `ezgfl f`xzc~k`klr! jkrrkz `elegk`klr'} knnkmr} jkflg nkar elb zkmcglfkb! nfz}r-k~kz zceb }dcwmc`flg {x fl lktr nkw `clrd} }dcwme}flg lkw MCC $mc`k} nzc` rdk Ktkm{rf~k Cnnfmk cn rdk Xzk}fbklrwfrd e acr cn gc~kzl`klr mclremr} elb ilcw-dcw&! ktxkmrkb }rzclg }rcmi xzfmk zkemrfcl rc bk~kacxflgrzklb cn mcl}f}rklrav gccb kezlflg} $28+ {x}fbk nzc` dkzk o{}r rc gkr rc lkr lkr ~ea{k&! emu{f}frfclrezgkr#j{vc{r rezgkr! c{r}fbk }dezkdcabkz wfrd faafu{fb! aezgk `flczfrv }reik elb {lmkzrefl egklbe#ktfr}rzerkgv
Mereav}r
 
F o{}r nflf}dkb klrkzflg e j{lmd cn bere }{md e} rzefaflg KX] elb zk~kl{k}, Rdzcw fr eaa c{r rdk wflbcw,D{rrfg J{fabflg Xzcb{mr} `ev jk clk cn rdk `c}r fglczkb! `f}{lbkz}rccb }rcmi} cl rdk `ezikr! elb ejfg zke}cl f} rder }{xkznfmfea eleav}f} wfrd zkebfav e~efaejak bere f}! wkaa! rcc }{xkznfmfea, D{rrfg J{fabflgXzcb{mr} $LV]K? DJX&! }x{l-cnn nzc` Mzelk $LV]K? MZ& ae}r vkez! f} e akebflg bf}rzfj{rcz cn j{fabflgxzcb{mr} }{md e} bccz}! wflbcw} elb rzf`, ^ea{k fl~k}rcz} `ev zkmcglfk rdk cxxczr{lfrv rder }c cnrklcmm{z} wfrd }xfl-cnn}, Fl rdf} me}k! }f`{arelkc{} wfrd rdk }xfl-cnn! D{rrfg f}}{kb >,; `faafcl }dezk} rcemu{fzk Z{gjv []E nzc` Z{gjv Gzc{x XAM, Rdk lkr f} rder k~kl rdk xzctv ncz rdk }xfl-cnn we} wczrdak}}jkme{}k fr wc{abl‖r emmc{lr ncz rdk emu{f}frfcl, E} e }xfl-cnn nzc` el ].X ;88 mc`xelv! D{rrfg we}g{ezelrkkb dcr xcrerc }rer{} elvwev, J{r nemrcz fl mcln{}flg cnnkzflg bcm{`klr} elb el eb`frrkbavxccz `ezikrflg ocj! elb rdk }rcmi }f`xav mc{ab lcr e~cfb rdk bcgdc{}k,Rdk jklkerd-rdk-}{znemk l{`jkz} ncaacw, Rdk akebkz fl fr} ~kzv nzeg`klrkb flb{}rzv! D{rrfg de} e`ezikr }dezk cn o{}r 4+ elb wfaa kezl zk~kl{k} rcxxflg "5,: jfaafcl, Zecz-rdfl `ezgfl} ezk cnn}kr jvflb{}rzv-akebflg wcziflg mexfrea `elegk`klr, Fl nemr! rdk mc`xelv de} jkkl xzcnfrejak }flmk rdk Mf~faWez, Rdf} vkez! rdk mc`xelv wfaa }kk ejc{r ">8 `faafcl fl KJFRBE xa{} e }{j}relrfea clk-rf`k gefl! vkrmezzfk} el klrkzxzf}k ~ea{k $"46 `ezikr mexfreaferfcl xa{} "5:: `faafcl bkjr ak}} "> `faafcl me}d& o{}rejc{r ":8; `faafcl,E} rdk flb{}rzv‖} `c}r knnfmfklr cxkzercz $wfrd `elegk`klr nfz`av kl}mclmkb fl e }dezkdcabkz-nzfklbavK^E mc`xkl}erfcl `cbka }rzefgdr c{r cn ]rkzl . ]rkwezr&! D{rrfg f} edkeb cn xael rc }u{kkk "5; `faafclfl }vlkzgfk} c{r cn Z{gjv e} wkaa e} jzflg Z{gjv‖} xccz wcziflg mexfrea `elegk`klr `czk fl aflk wfrdD{rrfg‖} crdkz cxkzerfcl}, Ktxkmr elcrdkz ":8 `faafcl rc bzfx c{r cn wcziflg mexfrea wfrdfl rdk lktr vkez,Jkme{}k cn rdk}k }e~flg}! D{rrfg fl knnkmr xefb o{}r "28 `faafcl ncz Z{gjv‖} "=8 `faafcl fl ell{ea KJFRBE,Wdfak D{rrfg‖} `elegk`klr }dc{ab gkr mzkbfr! }c`k cn fr `{}r jk }dezkb wfrd rdk `crf~erkb }kaakz,Z{gjv Gzc{x XAM f} lcr rdk wczab‖} jk}r-`elegkb mc`xelv! rc x{r fr afgdrav,Gcflg nczwezb! D{rrfg wfaa de~k rzk`klbc{} nzkk me}d nacw, Nzkk me}d nacw e~kzegkb ":5 `faafcl xkz vkezncz rdk rdzkk vkez} jknczk rdk emu{f}frfcl cn Z{gjv, Lcw! KJFRBE o{`x} rc er ake}r ">8 `faafcl! elb nzkkme}d nacw o{`x} rc er ake}r "=; `faafcl, Xa{}! fl rdk }dczr rkz`! wk gkr rdk ":8 `faafcl cz }c rder mc`k}c{r cn Z{gjv‖} wcziflg mexfrea, E} e zk}{ar cn rdf}! b{zflg meaklbez :888 D{rrfg f} wkaa cl rzemi rc jzflg fr}"5:: `faafcl fl bkjr bcwl rc "4: `faafcl, @elegk`klr‖} zke}cl} ncz rdk bkjr-zkb{mrfcl3 Zkb{mkbflrkzk}r ktxkl}k elb ktxelbkb ejfafrv rc x{z}{k emu{f}frfcl}, ]c wder wk ezk acciflg er f} el klrkzxzf}krzebflg er o{}r =,5 rf`k} KJFRBE! elb clav ejc{r ;,5 rf`k} nzkk me}d nacw, Zk`k`jkz ” 5=8 vkez} cn mclrfl{c{} xzcnfrejfafrv,@elegk`klr ncaacw} }rzfmr zkr{zl-cl-fl~k}r`klr mzfrkzfe emmczbflg rc ]rkzl ]rkwezr'} K^E rdkczv elb`cbka'} cxkzerfcl} cl GK'} ]ft ]fg`e xzcgze`, Rdk Mdefz`el mc`k} nzc` Mzelk elb f} ilcwl rc jk e}dezkdcabkz eb~cmerk,
D{rrfg J{fabflg Xzcb{mr}$DJX& - "2,=5:; cl E{g :7! :888

Activity (7)

You've already reviewed this. Edit your review.
1 thousand reads
1 hundred reads
Adam Gaglio liked this
Adam Gaglio liked this
brianhorey liked this
capiche_ liked this
signalhuckster liked this

You're Reading a Free Preview

Download
scribd
/*********** DO NOT ALTER ANYTHING BELOW THIS LINE ! ************/ var s_code=s.t();if(s_code)document.write(s_code)//-->