Not because it's not well-written, but because the story is so repugnant and grotesque.It was a good book, but it disappointed. I think most are aware of the role subprime mortgages played in the 2007 banking crisis and the resulting worldwide financial crisis that followed in 2008. The author finds implications for Obama priorities and sees the root of the trouble in investment banks becoming public companies. Although it was unexpected by the majority of Wall Street and caught most of the country unpleasantly by surprise, it had been long awaited by his central characters. There are several points, extensively documented and described, that you will not find in other sources. One of the best business books of the past two decades.
Read full review 100 A fundamental factor in the crisis was the willingness of investors to believe that they could get outsized yields on AAA securities. This book provides an interesting and enjoyable glimpse into the world of the Wall Street financiers who helped to create the recent financial crisis and the savvy few who recognized the bubble before it had burst.

In the past two decades, all five of his books have made The New York Times' bestseller l...Not if you're intelligent, and someone interested in this book probably is. Lewis talks specifically about CDOs, or collateralized debt obligations. The group was a mix of men, some in real estate, a few newly minted mortgage brokers and some others of various professions and income levels. One hedge fund manager related the thesis behind the strategy of shorting not only the bonds sold by As you point out, Lewis has the great ability to explain complex subjects very clearly and in a most compelling way. The conversation was on how people were refinancing their homes at unheard of values and next to nothing interest rates. Book Review: The Big Short - WSJ Betting Against the Herd A bubble becomes a systemic risk only because it is not recognized as such—except by the rare few. I thought some people in the government might be smart enough to realize what happened and know what to do: cheated.The best book on Wall Street months before the recession hit. Goodreads helps you keep track of books you want to read. He may expect other investors to be as smart as he is. This non-fiction account of the players and events behind the financial crisis of 2008, specifically banks spinning out derivatives whose risk they themselves didn't understand, was for me scarier than any horror movie. This book walks us through the timeline following the rise in the popularity of these loans, how and when they began to get batched together and sold off in packages and the resultant collapse of the marI think most are aware of the role subprime mortgages played in the 2007 banking crisis and the resulting worldwide financial crisis that followed in 2008. Based on a book by Michael Lewis, “The Big Short” is about how several traders and hedge fund managers made fortunes because they saw that the housing market’s decline would cause a collapse of bonds contrived from sub-prime mortgages.
More investors were "betting" on this synthetic market than were actually invested in mortgage securities.Let me illustrate this with some charts. This is a great tale, well told. Reading this book is like riding a time machine back a couple years, walking into the Wall Street offices and asking them, "What in the world were you thinking?" I really enjoyed reading about these individuals who foresaw the coming doom. I found myself shaking my head at each unconvincing point.This should not in any way detract from the wonderful story, with rich characterization and authentic detail.There is important information that you will not see anywhere else. But when Burry chose to bet against the subprime mortgage bond market, his investors balked. Lewis relates tales that show how these conflicts lead Wall Street firms to make the same mistakes over and over, demonstrating that the cultures must change or they will be doomed to repeat the same mistakes. Houses were getting more and more expensive, interest rates were dropping more and more, and most of us knew someone who had no money, but was able to get a huge mortgage. "This book made me want to vomit, then take a bath in a tub of bleach. I was at my son’s junior peewee football game on a warm autumn day talking to some other dads at halftime. Free download or read online The Big Short: Inside the Doomsday Machine pdf (ePUB) book. I knew dumb people were making money with my money: vindicated. These papers were written primarily by students and provide critical analysis of The Big Short by Michael Lewis.Copyright © 1999 - 2020 GradeSaver LLC.


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