Tuesday, December 28, 2010

[books] The Big Short

The Big Short: Inside the Doomsday MachineThe Big Short: Inside the Doomsday Machine by Michael Lewis
My rating: 5 of 5 stars

Extremely well written story of the financial crisis, from the insider's point of view. There is a bit of selection bias since all the "insiders" that Lewis interviews actually saw the crash coming and shorted the market. But don't let that detract from the book - its really well done and hard to put down. Lewis explains the various products and terms (CDOs, CDSs, tranches) quite well - most of which are different names for common sensical products anyway - and then goes on to explain how the mess was created, why it was very hard to value and where there was fraud versus bad judgement. He explains the greed factor - and the process of duping the rating agencies (S&P and Moody's).

The book reads like a fiction novel. Its fast, characters (all real people) are the kind you can relate to (like or hate). I loved this book and would strongly recommend it to anyone, regardless of your interest in finance.


View all my reviews

2 comments:

Deepankar said...

nice blog!
continue your good job..

By Deepankar
Submit Link

Jason2011 said...

Currently,whenever sports athletes coming from all your nations worldwide received over buses, Monster Beats by simply Generate. Dre Facilities earbuds were only close to their particular necks. National basketball association star Kobe is also a consumer regarding
Monster Lady Gaga through Generate. Dre Business, and even the particular Laker Lakers.likexuequn789
Beats By Dre
Lady Gaga Heartbeats
Monster Beats Pro
Beats Solo
Beats Tour
Beats By Dre Studio
Monster Butterfly Vivienne Tam