Management

Lakshmi “Laks” Ganapathi

Founder and Portfolio Manager of Minerva. Also the founder and CEO of Unicus Research, established in 2021. Under her leadership, Unicus Research provides actionable, short-focused investment ideas to institutional managers worldwide, applying proprietary primary research and thorough fundamental and investigative analysis.

Over ten years of experience in accounting and finance. Previously worked as a dedicated short investment analyst at a boutique investment research firm led by a prominent Wall Street veteran, where she sharpened her skills in short-selling strategies, forensic analysis, and investigative research.

Author of articles in IFC Review; featured commentator in Fortune, CNBC, and other major financial media. Responsible for all investment decisions, portfolio construction, and risk management; also oversees the Unicus Research publishing operation.

Dr. Michael Burry

Michael J. Burry, M.D., graduated from UCLA with a Bachelor of Arts in Economics, and completed his M.D. at Vanderbilt University. After 3 years of residency training at the University of Tennessee Memphis Health Center and Stanford Hospital, Dr. Burry formed Scion Capital, LLC, a hedge fund manager he ran from 2000 to 2008.

During that time Dr. Burry invested heavily in stocks, bonds, distressed assets, credit derivatives, futures, options and commodities. From 2009 through 2012, Dr. Burry focused on family investments including his private investments in start-ups and farmland. In 2013, Dr. Burry returned with Scion Asset Management, LLC, a hedge fund manager that closed its last fund in 2025.

Dr. Burry over roughly a quarter century of running money, Dr. Burry ran both domestic and Asia-focused hedge funds, and has extensive experience in Korea, China, and Japan. Dr. Burry now has retired from running outside money. He focuses on family investments and produces investment and economic analyses for Cassandra Unchained, his public Substack.

Robert MacArthur

Portfolio Manager and Co-Principal of Minerva. Over thirty years of short-selling research and strategy experience. Began his career in 1994 at an institutional broker-dealer, where he developed and implemented a wide range of short-selling strategies and built deep expertise in forensic fraud analysis, bankruptcy detection, and equities and options trading.

In 2006, established Alternative Research Service Inc., a Connecticut-registered investment adviser, serving a select group of large institutional clients with a concentrated portfolio of high-conviction short ideas, quality over volume. Author of “Online Education Fraud: The Diary of a Short Seller,” detailing his role in exposing a major for-profit education fraud.

Rejoined the short-side research industry through Unicus Research, where he co-generates ideas with the analyst team and engages directly with institutional clients, bringing seasoned judgment and decades of pattern recognition to the process.