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The Big Short: Inside the Doomsday Machine Paperback – February 1, 2011
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From the Back Cover
“So memorable and alive. . . . It’s one of those rare works that encapsulate and define an era. . . . Remember the 1980s? When you want to recall this roaring decade, pick up a copy of Liar’s Poker.” ―Fortune
“Devastatingly funny.” ―New York
“The best business book Lewis has written. It may be the best business book anyone has written.” ―Mark Gerson, The Weekly Standard
“A brilliantly told tale. . . . Michael Lewis’s beautiful obsession with the idea of value has once again yielded gold.” ―Garry Trudeau --This text refers to the Hardcover edition.
Top Customer Reviews
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.Read more ›
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.Read more ›
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).Read more ›
Most Recent Customer Reviews
No logically thinking Vulcans occupy D.C. or Wall Street. Just emotional beasts who play games with other people's money. I liked this book for its raw emotional spewing. Read morePublished 21 hours ago by Jseis
I have to admit I didn't really understand all that went into the mortgage crisis. Just too busy, I guess. However, I strongly recommend this book. Read morePublished 1 day ago by Marlene
Couldn't get into it, just not my kind of reading, never finished it....from my point of view, I didn't like it...Published 2 days ago by Neasha G. Hercher
Equally entertaining as it is informative, recommend this for anybody who enjoyed the film, but was left scratching their headPublished 3 days ago by Erogers055
Never mind the "scholarly" reviews of the subprime crash, Lewis does a much better job of describing how it happened. Read morePublished 3 days ago by The Curmudgeon
Detailed look into capitalist corruption and incompetence. Highly recommended.Published 4 days ago by Amazon Customer
Michael Lewis does another excellent job transforming a true story into a concise, comprehensible book. Read morePublished 4 days ago by Kindle Customer
Surprisingly more about people and personalities rather than money and markets. After I've seen the movie, I'll track down more stuff by this gifted author. Read morePublished 5 days ago by G. Madden
Fascinating inside story of the causes of the 2008 market collapse. Michael Lewis is a consistently fine story teller who makes a complex situation easy to grasp. Read morePublished 6 days ago by drowsy98