01-18-2016, 05:00 PM | #1 |
Treachery of images ...
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The Big Short, Michael Lewis
Wow, I saw this film yesterday and it helped me to clearly work stuff out about the sub prime housing mortgage loans in the US during the naughties (2005 to 7 say).
I rarely read the book after I've seen the movie but in this case I'm going to so that I can focus on all those financial terms and their meaning, again. And, apparently, the same phoney stuff once again went on the market for sale in 2015 (so the statements at the end of the movie informed) ..... Anyone read the book? Got any comments? Goodreads: https://www.goodreads.com/book/show/...-the-big-short |
01-18-2016, 10:38 PM | #2 |
Wizard
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Yes, I have. Gripping, and Michael Lewis knows his stuff. Amazingly, way back in 1980 in his first book, "Liar's Poker", he mentioned the invention of these "products" and said that their creators described them as "toxic waste". Even then.
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01-24-2016, 03:17 AM | #3 |
occasional author
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Excellent work!
History keeps repeating itself where greed is concerned. "Enron - The smartest guys in the room." "August" Madoff dot.coms in general. The S&Ls crisis in the 70s and 80s. The books are written. The movies are made. No one wants to remember or listen. I have spent much of 2015 not really trying to make money in the Market, just trying not to lose too much. My cash has done as well or better straight up, and thank goodness for dividends. I could carry on all night, but what the heck, I got a good tip on a horse that is supposed to be a good "snower" for tomorrow. [ you know like "mudder"] |
02-18-2016, 05:04 PM | #4 |
Treachery of images ...
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Finished the Big Short a little while ago and have been mulling it over. I think it is an excellent intro as to what brought the US economy down 07/08, and I now somewhat understand what 'sub prime housing market' means and entails.
It just sickens me to know that workplace survival in a number of the finance marketplaces depends on the ability to be masters of deception, obfuscation, and, quite frankly, the negative persona list could go on and on ..... |
02-19-2016, 08:50 AM | #5 |
Wizard
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Thanks for the reminder Lynx-lynx. I've been meaning to read that for a while - must move it up on the list.
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