Highly recommend. Michael Lewis at his very best. I hope they figure out how to make a movie about this before the empire dies.
"The Big Short" is the first - and perhaps only - book one needs to read on the financial crisis. Told through the storylines of colorful, flawed, and unheralded characters, Lewis's book takes the reader to the core of the cancer that overwhelmed our system -- and shows how independent, odd, and courageous investors profited from their insights into an astoundingly corrupt world of "Financial Innovation" built on nothing more than over-leveraged and repackaged garbage foisted on the world with the blessing of "AAA" ratings.
The narrator does a wonderful job (although I would have preferred if Lewis would have read the book -- his introductory remarks are fantastic), and I look forward to re-listening to this one again and again.
Highly, highly recommended.
It is unbelievable that it really happened, an excellent book. I only hope we can learn and make better decisions in the future, NOT!!!!!!!!
I think pretty much every at this point realises that msitakes wer emade and that interests were not always aligned. I think very few people know just how screwed up the system is (now was) and inevitable the crash was. Banker knowingly made rediculous loans without care as the risk as repackaged and passed on. The fraufulent natur e of it is jarring but not completely unexpected. What is unexpected is just how incompetant "the market" (read: the people running it) turned out to be at valuing this trash. The most shocking part of all is how little has changed.
The book gets somewhat repetitive as the author follows several people all comming to similar conclusions in similar ways and so taking similar actions to profit. It would have been better as a shorter read but it is still well worth it.
Well written with great details that tell the story! How could this happen? I still can not believe this financial holocaust played out and to this date has been swept under the rug.
This book describes in detail what happened in the years leading up to the big crash on wallstreet. Starting in 2005, it follows 4 of the major people who noticed the peculiar pricing of CDO's and stood to cash in on it.
It made me happy to see there were people that were not wallstreet heads that made a lot of money, and basically told the wallstreet heads the entire time that they are idiots.
I wasnt mad after listening, like I seem to be with most things about the crash. I am informed and it was a great book.
This is an amazing book. It is about the few guys who figured out that the crash was coming and how to make a lot of money from it. All the the people are such unusual characters. A fabulous listen; never a dull moment. You don't have to be in the financial business to enjoy this book.
Holy cow! This is the first book about the mortgage meltdown that one without a financial background can truly appreciate the complexity of CDOs, MBSs, and all the other alphabet-soup financial products that nearly destroyed our economy. It is expertly read by narrator and hard to stop listening. It is exciting and painfully devastating to get a sense of how effed up some of the "experts" really were in thinking what they were doing was sustainable. Definitely worth a credit.
The reckless, greedy and immoral behavior of Wall street in full display.
Even if you were not disgusted enough with the bailout, this book will make sick.
Pros: Doesn't hold any punches and doesn't try to make friends.
Cons: If you don't have a bit of an exposure to investment banking, this book could be hard to understand at times.
I didn't see the necessity for airing the personal life of Dr. Michael Burry
Madness and stupidity
Michal Lewis touches the nerves to show the stupidity of Wall Street operating system. From a place of brilliant people that allocate capital to a giant casino. How people acting in their own interest can ruin the live of others without a blink or regret. CEOs and traders that left the scene millionaires carrying the life save money of millions people that couldn’t know better. Very said to see what Wall Street became. More disturbing yet is the pain and void felt for those who came millionaires beating the system knowing that in the end everybody lost. Especially the core American values .