ClaimsMichael Burry

“Plugging it into the income statement as an expense drops the operating income – less investment gains and interest – from $408 million to $51 million.”

Michael Burry, managing member, Scion Capital 2001 Scion Funds annual letters compilation (investorkurs.no)

Factual Economics and markets

Counting option compensation recognized by the IRS as an expense would cut Adobe's operating income, less investment gains and interest, from $408 million to $51 million.

Not researched Checkable, but outside the sample that was researched.

Factual: Statements about the present or the past, checked against the record: did they hold up?

Said for an organisation they lead or work for; it counts on both records.

Cite this claim

Michael Burry, “Counting option compensation recognized by the IRS as an expense would cut Adobe's operating income, less investment gains and interest, from $408 million to $51 million.” (said 2001). Verdict: not researched. Reliability API, claim c_74cdc602ccab, method 0.1.0+c876030c, dataset release v1.1.2. https://epistacklabs.com/claims/c_74cdc602ccab

This claim is in dataset release v1.1.2, with the same verdict.

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More factual claims by Michael Burry

  1. Mostly false Factual 3 November 2026
    “The Superinvestors of Graham & Doddsville all lost money 3 years in a row during the mid-1970s.”

    The Superinvestors of Graham & Doddsville all lost money three years in a row during the mid-1970s.

  2. Mostly true Factual 30 October 2026
    “It’s a perfect storm for Build-A-Bear (BBW), a one-of-one retailer now heavily shorted, 25% of the float, almost 9 days to cover.”

    Build-A-Bear (BBW) is heavily shorted, with short interest at 25% of the float and almost 9 days to cover.

  3. Resolved true Factual 30 October 2026
    “Here is the link where I made the case last week that beneath the surface the October 6, 2026 record close in the S&P 500 looks more like the March 2000 top than any other record high since 1980.”

    Burry made the case the prior week that the October 6, 2026 S&P 500 record close looks more like the March 2000 top than any other record high since 1980.

  4. Mostly true Factual 24 October 2026
    “October 6, 2026 stands head to head with March 2000 as the two most narrow, thin, soft new highs”

    Across 982 S&P 500 record closes since 1980, October 6, 2026 and March 2000 are the two most narrow, thin, soft new highs by almost any measure.

  5. Mostly true Factual 11 October 2026
    “Both stocks have retraced essentially all their gains since Trump’s election, and they put in a giant head-and-shoulders-and-elbows top for added emphasis.”

    Fannie Mae and Freddie Mac stocks have retraced essentially all their gains since Trump's election and formed a large head-and-shoulders top.

All of them

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