Former Stanford colleagues of Michael Burry run Palo Alto Investors, which has focused almost entirely on biomed and medtech for almost three decades.

Judge as of 2025-12. There are three parts: (a) the people running Palo Alto Investors (e.g. its founder or principals) were Burry's colleagues at Stanford (e.g. during his Stanford residency/medical training); (b) the firm has focused almost entirely on healthcare (biomed and medtech), especially biomed; (c) it has done so for close to 30 years (founded around 1989–1999). True: all three are documented. Mostly true: all hold with a minor slip, e.g. the healthcare focus began a few years after founding, so 'almost three decades' is roughly 25 years, or only one principal was a Stanford contemporary. Mixed: the focus and the tenure hold but no Stanford connection with Burry can be shown, or the connection holds but the focus is materially broader. Mostly false: there is a Stanford tie, but the firm is a diversified investor with only a partial healthcare tilt. False: the firm's principals have no Stanford connection with Burry and the firm is not healthcare-focused.

Set before the research began.

1. E1 Bio - Palo Alto — SALT Conference SALT Conference

   “Palo Alto Investors LP (“PAI”) is a physician-led, healthcare focused investment firm which was founded in 1989 with a simple guiding principle of “Clients First.””

2. E2 Palo Alto Investors LP — Asset manager, Palo Alto, United States Investor Database · 3 September 2026

   “Palo Alto Investors LP is a physician-led investment firm that conducts fundamental research and manages assets primarily in domestic healthcare equities for high net worth and institutional investors.”

3. E3 Contributors for the Summer 2011 Issue Vanderbilt University News · 6 September 2011

   “He continued his medical education as a resident at Stanford University Hospital before leaving after his third residency year to found Scion Capital.”

4. E4 primary_doc.xml U.S. Securities and Exchange Commission

   “Executive Officer of Palo Alto Investors, LLC, General Partner”

E1 describes Palo Alto Investors as a physician-led, healthcare-focused firm founded in 1989. E2 says the firm manages assets primarily in healthcare equities, which supports the focus, and E1's 1989 founding date supports the roughly three-decade tenure, though neither source says when the healthcare focus began. E3 confirms Burry was a resident at Stanford University Hospital. However, none of the evidence links the firm's principals to Stanford or to Burry, so under the criteria this is mixed.