The Big Short Pdf

Author: Michael Lewis
Publisher: Simon & Schuster Audio; Unabridged edition
ISBN: 1508214468
Language: English
Formats: Kindle,Hardcover,Paperback,Audible, Unabridged,Audio CD, Audiobook, CD, Unabridged,Unknown Binding,
Category: Books,Business & Money,Economics, FREE Shipping,

In the tradition of Michael Lewis’s blockbusters Moneyball and The Blind Side, the Encore edition of the #1 New York Times bestseller and “one of the best business books of the past two decades” (The New York Times) will tie in with the upcoming feature film starring Christian Bale, Brad Pitt, Ryan Gosling, and Steve Carell.

When the crash of the US stock market became public knowledge in the fall of 2008, it was already old news. The real story of the crash began the previous year in bizarre feeder markets where the sun doesn’t shine and the SEC doesn’t dare, or bother, to tread: the bond and real estate derivative markets where geeks invent impenetrable securities to profit from the misery of lower and middle-class Americans who can’t pay their debts. The smart people who understood what was or might be happening were paralyzed by hope and fear; in any case, they weren’t talking.

Michael Lewis creates a fresh, character-driven narrative brimming with indignation and dark humor, a fitting sequel to his #1 bestseller Liar’s Poker. Out of a handful of unlikely heroes, Lewis fashions a story as compelling and unusual as any of his earlier bestsellers, proving yet again that he is the finest and funniest chronicler of our time.

In the tradition of Michael Lewis’s blockbusters Moneyball and The Blind Side, the Encore edition of the #1 New York Times bestseller and “one of the best business books of the past two decades” (The New York Times) will tie in with the upcoming feature film starring Christian Bale, Brad Pitt, Ryan Gosling, and Steve Carell.

When the crash of the US stock market became public knowledge in the fall of 2008, it was already old news. The real story of the crash began the previous year in bizarre feeder markets where the sun doesn’t shine and the SEC doesn’t dare, or bother, to tread: the bond and real estate derivative markets where geeks invent impenetrable securities to profit from the misery of lower and middle-class Americans who can’t pay their debts. The smart people who understood what was or might be happening were paralyzed by hope and fear; in any case, they weren’t talking.

Michael Lewis creates a fresh, character-driven narrative brimming with indignation and dark humor, a fitting sequel to his #1 bestseller Liar’s Poker. Out of a handful of unlikely heroes, Lewis fashions a story as compelling and unusual as any of his earlier bestsellers, proving yet again that he is the finest and funniest chronicler of our time. The Big Short Pdf

Based on reading Michael Lewis' Liar's Poker and Moneyball, I wondered whether The Big Short would prove to be entertaining and informative. If you've read some of Lewis' books, you might agree that the "entertaining" part would seem to be a reasonably safe bet. It turns out, it is. The Big Short is fast-paced, straightforward, conversational and salty--very much like his earlier works. Indeed, if you didn't know Michael Lewis had written this book, you could probably guess it. It is easy reading and very hard to put down. In short (no pun), The Big Short doesn't disappoint in being entertaining.

In a sense, this book is similar to Moneyball in that Lewis tells his story by following a host of characters that most of us have never heard of--people like Steve Eisman (the closest thing to a main character in the book), Vincent Daniel, Michael Burry, Greg Lippmann, Gene Park, Howie Hubler and others.

How informative is the book? Well, it may seem that Lewis has his work cut out for himself, since the events of the recent financial crisis are already well known. More than that, lots of people have their minds made up concerning who the perps of the last few years are--banks and their aggressive managers, "shadow banks" and their even more aggressive managers, hedge funds, credit default swaps, mortgage brokers, the ratings agencies, Fannie Mae and Freddie Mac, the Fed's monetary policy, various federal regulators, short sellers, politicians who over-pushed home ownership, a sensationalist media, the American public that overextending itself with excessive borrowing (or that lied in order to get home loans), housing speculators, etc. The list goes on--and on. Okay, so you already know this.

In the run-up to the housing collapse of 2007-2008, houses weren't merely expensive, they were insanely expensive. Yet just when it seemed that prices couldn't go higher, some fool would come along and pay an enormous sum for a glorified hovel. You didn't have to be a genius to realize that American real estate was overvalued. It did, however, take something special to figure out how to make money off the madness. A group of between ten and twenty people did just that, making the bet of a lifetime that author Michael Lewis calls "The Big Short"

The cast of characters in Lewis's highly readable chronicle of the collapse (and what led to it) includes a misanthropic former medical resident, a money manager who saw himself as Spider-Man, and a pair of men in their thirties who started with $110,00 in a Schwab account they managed from a backyard shed in Berkeley, California. "Each filled a hole," Lewis writes. "Each supplied a missing insight, an attitude to risk which, if more prevalent, might have prevented the catastrophe."

Ever since he left Salomon Brothers to write Liar's Poker, the classic 1989 account of his years as a bond salesman, Lewis has been waiting for a day of reckoning. Little did he realize that the Wall Street he once knew now seems quaint. By 2007, it had morphed into a financial Frankenstein, a "black box" filled with hidden risks on complicated bets that could destroy its creators, but only if the government allowed it to do so.

Let me get the easy part of this out of the way first. Michael Lewis is a remarkably gifted writer, and I have often found his books impossible to put down. When I first read his debut at book authorship, Liar's Poker, I literally read it straight through. I was not alone in this, as Liar's Poker rightfully made Michael a very well-respected author and a very wealthy man. Moneyball, The Blind Side, and numerous other best-sellers built on that reputation. The long-awaited newest contribution from Michael Lewis, The Big Short: Inside the Doomsday Machine, is 264 pages long, and I also read this in 24 hours. However, I doubt many others will feel the same. The book was compelling, I thoroughly enjoyed reading it, and nothing in the book modified my view that Michael Lewis is one of the most interesting writers of this era. I simply doubt that this book evoke the same response from the masses of people who will buy it. Perhaps I am wrong. So before I begin to disect the important parts of the book (its underlying messages, etc.), I will say that it was another hard-to-put-down book from Michael Lewis. Thumbs up, and all that stuff.

So what did I really think of the book? Well, Lewis should be commended for writing a book on the 2008 financial crisis from the most unique perspective thus far. Rather than focus on the major characters that a plethora of other books have focused on (Paulson, Bernanke, Geithner, etc.), Lewis tells his story using some extremely obscure characters as his lead actors: A handful of hedge fund managers who made massive bets against the subprime industry (and by hedge fund managers, I am not referring to high profile, well-known hedgies; I am talking about very, very minor players).

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  The Big Short: Inside the Doomsday Machine (movie tie-in)
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  Empire of the Fund
  SEC, order instituting administrative and ceaseanddesist proceedings against UBS Global Asset Management, at http://ift.tt/2aIriYt. pdf. 20. Michael Lewis, The Big Short: Inside the Doomsday Machine (2011). 21.

  
  

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  The Great Acceleration
  11 Speech by Andrew Haldane in Beijing, July 2011, http://ift.tt/1G1UpBj r1107.20a.pdf. 12 The ... data/file/253454/bis-12–917-kay-review-of- equitymarkets-final-report.pdf. 13 Michael Lewis, The Big Short, Allen Lane, London, 2010.

  
  

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  Financial crisis
  Available at http://ift.tt/2aIqlz3 Lewis, M( 2010). The big short: Inside the Doomsday Machine. W. W. Norton & Company. New York Le Leslé, V and S. Avramova (2012). Revisiting Risk-Weighted Assets:  ...

  
  

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  Research Handbook on the Economics of Corporate Law
  Hunt, John Patrick (2009), 'Credit Rating Agencies and the “Worldwide Credit Crisis”: The Limits of Reputation, the Insufficiency of Reform, and a ... of Credit Rating Agencies', September, available at http://ift.tt/2aIq8Mo pdf/IOSCOPD153.pdf (last accessed October 2011). ... Lewis, Michael (2010), The Big Short, Inside the Doomsday Machine, New York, NY: W.W. Norton & Company.

  
  

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  Ethical Lessons of the Financial Crisis
  19 Michael Lewis, The Big Short, New York: W.W. Norton & Company, Inc., 2010. 20 http://ift.tt/2aIqQZZ. 21 http://ift.tt/2aHbbXP. 22 Ross ...

  
  

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  A Guide to the New Tools and New Actors that Are Reshaping Global Philanthropy and Social Investing Lester M. Salamon ... 2007. http://www. http://ift.tt/2aHbdyV. Lewis, Michael . The Big Short.

  
  

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  The Oxford Handbook of Financial Regulation
  Law Commission and Scottish Law Commission, Insurable Interest (2008), Insurance Contract Law Issues Paper No 4, available at <http://www.lawcom.gov. uk/docs/ Insurance_Contract_Law_Issues_Paper_4.pdf>. Lewis, M, The Big Short: ...

  
  

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  Age of Greed
  7. http://ift.tt/2aIr03I. 368 As THE ... 371 JOHN MACK, HEAD 01= MORGAN STANLEYZ Michael Lewis, The Big Short: Inside the Doomsday Machine (New York: W. W. Norton, 2010), pp. 216-19 .

  
  

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  Quicklet on Michael Lewis' The Big Short (CliffNotes-like Book Notes)
  Hyperink is the easiest way for anyone to publish a beautiful, highquality book. We work closely with subject ... We'll send you a PDF copy, so you can access all of the great content we've included as clickable links. Copyright © 2012Present.

  
  

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  Masters of the Universe, Slaves of the Market
  Written Statement of Robert J. Levin before the Financial Crisis Inquiry Commission, 9 April. Available at http://ift.tt/2aHaptZ _media/ fcic-testimony/2010-0409-Levin.pdf. Lewis ... The Big Short: Inside the Doomsday Machine.