Famed investor Dr. Michael Burry is leading the charge against a California city’s plans to build a new housing development in the hills surrounding Saratoga, CA, citing wildfire risk.
A new lawsuit spearheaded by Burry claims the planned Masson Estates development would be built in a high-risk fire hazard zone, and that further development in the area would put the community’s already congested evacuation roads at risk of overloading with congestion in a disaster.
Burry made his name and his fortune from correctly predicting the 2008 housing collapse. His hedge fund Scion Capital netted around $800 million during the subprime mortgage crisis by purchasing credit default swaps, $100 million of which went directly to Burry. The 2015 movie “The Big Short” prominently features Burry as a character, played by Christian Bale…