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The Big Short
Submitted by Visitor on Mon, 11/29/2010 - 1:49pm
Review:
It's darkly comic, it's suspenseful, it's an inside look at out-of-control Wall Street about to go over the falls in 2006-2008. It's Michael Lewis' The Big Short - "short" as in "short sale," an open-ended bet that the price of an asset will drop sharply. The assets in this case are sub-prime mortgages, generally considered to be unshortable. But the collection of socially-challenged financial do-it-yourselfers profiled in this book find that a way to do just that, as well as finding the will power to bet against the housing market as home prices continue to head out of sight. This book could have almost been sub-titled "How To Make a Billion Dollars Out Of Your Garage Pretending To Be A Hedge Fund," since this is only a slight exaggeration of what actually happens. The Big Short will provide you with both an entertaining read and a whole new level of disdain for the movers and shakers of Wall Street.
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