I think I probably didn’t get my message across right: I’m saying that scion were indeed a hedge fund (ofcourse), but their ‘big short’ was not a play the other hedge funds were doing. The bet, not the fund was contrarian.
But no one else was shorting the housing market bar scion, frontpoint, etc. Most hedge funds, on the other hand, were pumping the CDO market and in turn causing/worsening the crisis - look up magnetar, etc.