Well read. Well written. Enjoyed this book very much. If you can follow the multiple storylines on this journey, there is a wealth of knowledge and wisdom to take in. I highly recommend this book.
This was not only a history lesson, but also like a detailed newspaper article. From the view of those few who saw it coming, it slowly explained how the meltdown was unavoidable since banks were gambling with such poor quality loans. Subprime is an understatement. The book also makes you wonder why the government did not do more break up several of the banking groups who caused the debacle instead of just bailing them out.
Well worth the time to read if you ever wanted to know what really happened.
Probably not, but that doesnt mean it wasn't a great listen.
Getting to know the personalities of those behind the collapse
Yes, I could
I'm a recent grad in finance. this book does an amazing job at outlining some of the systemic problems that led up to the crash. easy to follow for the lehman. passionately told to keep any reader (or listener) engaged.
I was already familiar with the details of the financial instruments that caused the 2007/8 financial collapse. What was interesting about this book was that it dealt with some of the people involved, specifically those who saw the collapse coming and shorted the bonds and stocks of the companies involved.
I think the most unfortunate part of the whole debacle was the response of the Obama administration. At the time they had the opportunity and the political capital to restructure the financial institutions and punish those who were the primary cause. Instead they let them keep their money, and tax payers footed the bailout bill.
If you're interested in a well told story about the collapse this is definitely a good listen.
Helped make the financial crisis understandable. Love how you almost feel like you know the guys he is talking about. Like you sat down for coffee with them and picked their brains. Really a great listen. Now to go buy some sub prime mortgages.
Great story, picks up speed after the second half of the first chapter. Discusses some of the groups making money on bonds with Subprime Mortgages and even more interestingly the money made against them. Discusses some principles of Buffett on Michael Burry's value investing trades. Also how Joel Greenblatt invested into Burry's fund. Another facinating story on Cornwall Capital on how three young men made millions.
I listened to and read Liars poker 8 times the first month I discovered it. As Lewis says in his prologue, I viewed the book as a how to... Get into the culture id the industry albeit 25+ years ago. This book represent the mechanics and evolution of a market Louis Raneri created so long ago. It present a case that value investing is still valid and that markets are not always efficient. There is, at some point an opportunity in the market for smaller sums of money. One just need the wear withal to find the right talent and stay on course. There is a heard mentality when I comes to money and when you can identify opportunity correctly feel free to go the other way.