[r.....t]

#bigshort

Najlepsze #spiseg to takie co są prawdziwe i straszne.

#film na podstawie książki opartej na faktach.
https://en.wikipedia.org/wiki/The_Big_Short

The work follows people who believed the bubble was going to burst, like Meredith Whitney, who predicted the demise of Citigroup and Bear Stearns; Steve Eisman, an outspoken hedge fund manager; Greg Lippmann, a Deutsche Bank trader; Eugene Xu, a quantitative analyst who created the first CDO market by matching buyers and sellers; the founders of Cornwall Capital, who started a hedge fund in their garage with $110,000 and built it into $120 million when the market crashed; and Michael Burry, an ex-neurologist who created Scion Capital despite suffering from blindness in one eye and Asperger's syndrome.[1]

The book also highlights some people involved in the biggest losses created by the market crash: like Merrill's $300 million mezzanine CDO manager Wing Chau; Howie Hubler, infamously known as the person who lost $9 billion in one trade, the largest single loss in history;[2] and Joseph Cassano's AIG Financial Products, which suffered over $99 billion in losses.[3]

Bohaterowie:

In 2012, Eisman founded Emrys Partners with $23 million in seed capital. In July of 2014 he announced that he was shutting down the fund, explaining his decision by stating that "Making investment decisions by looking solely at the fundamentals of individual companies is no longer a viable investment philosophy." The fund controlled an estimated $185 million in assets at the time of its dissolution.[1] The fund performed badly in 2012, returning 3.6% and underperforming the market. It did better in 2013, returning 10.8% but still underperforming the market.[2][3]

In 2005, Burry started to focus on the subprime market. Through his analysis of mortgage lending practices in 2003 and 2004, he correctly forecast a bubble would collapse as early as 2007. Burry's research on the runaway values of residential real estate convinced him that subprime mortgages, especially those with "teaser" rates, and the bonds based on these mortgages would begin losing value when the original rates reset, often in as little as two years after initiation. This conclusion led Burry to short the market by persuading Goldman Sachs to sell him credit default swaps against subprime deals he saw as vulnerable. This analysis proved correct, and Burry profited accordingly.[6][7][8] Ironically Burry has since said, "I don't go out looking for good shorts. I'm spending my time looking for good longs. I shorted mortgages because I had to. Every bit of logic I had led me to this trade and I had to do it".[2]

Though he suffered an investor revolt before his predictions came true, Burry earned a personal profit of $100 million and a profit for his remaining investors of more than $700 million.[4] Scion Capital ultimately recorded returns of 489.34 percent (net of fees and expenses) between its November 1, 2000 inception and June 2008. The S&P 500 returned just over two percent over the same period.[4]

Napewno wyciągneliśmy z tego wnioski co nie?

In a Dec. 28, 2015 interview with New York Magazine, Burry outlines the problems he still sees in the financial system — and he doesn't think the preventative measures put in place by the government are helping matters.

"The biggest hope I had was that we would enter a new era of personal responsibility. Instead, we doubled down on blaming others, and this is long-term tragic. Too, the crisis, incredibly, made the biggest banks bigger... Banks were forced, by the government, to save some of the worst lenders in the housing bubble, then the government turned around and pilloried the banks for the crimes of the companies they were forced to acquire. The zero interest-rate policy broke the social contract for generations of hardworking Americans who saved for retirement, only to find their savings are not nearly enough... Government policies and regulations in the postcrisis era have aided the hollowing-out of middle America far more than anything the private sector has done. These changes even expanded the wealth gap by making asset owners richer at the expense of renters. Maybe there are some positive changes in there, but it seems I fail to see beyond the absurdity."
http://www.bustle.com/articles/133631-what-is-michael-burry-doing-today-the-big-short-character-is-still-weary-of-the-financial
http://nymag.com/daily/intelligencer/2015/12/big-short-genius-says-another-crisis-is-coming.html?mid=full-rss-krang,dailyintel,scienceofus

Tak to czytam i mam wrażenie, że to wszystko fake.

o jest i jakieś lepsze źródło:
http://www.businessinsider.com/where-are-they-now-the-big-short-edition-2011-11?op=1&IR=T

#ekonomia #film o #lunatyk #spamujetagami
Czasem mam wrażenie, że lepiej nic nie wiedzieć i być szczęśliwym jak inni. Inaczej chodzisz nakręcony jak ten Mark Baum aka Steve Eisman

[Kapitalis]

@rzet: To jeszcze przeczytaj sobie ten artykuł http://fee.org/freeman/the-big-short-and-the-ratings-agencies/

the movie blames market forces without looking to the role government intervention played. FEE.org’s Jeffrey Tucker points out, for example, that The Big Short fails to mention the role of the Federal Reserve and the various federal government policies that promoted unsound mortgage practices.

Film nie mówi całej prawdy.

[UberWygryw]

@rzet: czytałem książkę w oryginale i jest naprawdę świetna

[r.....t]

@Kapitalis: no nie mówi, prawda taka, że oni pewnie wszyscy na górze wiedzieli, ale #ktonietanczytensprzedaje

[r.....t]

@UberWygryw: nie mam cierpliwości do książek, pewnie to moja pochodna ADHD, tylko w armii czytałem tak na serio, bo miałem dużo czasu siedząc w baraku na lotnisku.