The Big Short

The Big Short

[inside the Doomsday Machine]

Downloadable Audiobook
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Michael Lewis offers a critical look at the financial collapse of 2008 and reveals how the American economy shot itself in the foot. With cynical wit and humor, Lewis exposes the bungling villains who steered the economy toward a recession and chronicles the harrowing attempts of a few hopeless heroes who foresaw this tragedy.
Publisher: New York : Simon & Schuster Audio
Copyright Date: ℗2010
ISBN: 9781464023248
Characteristics: audio file, rda
Additional Contributors: OverDrive, Inc. - Distributor

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Mar 02, 2018

Great book, regardless of whether you have an interest in finance or not. It helps to have a bit of background or interest in the finance world. Insight into the machinations of the investment world are valuable and shocking; it's a great learning experience regardless.
He does try to turn the more complex side of this world into something all readers can understand and succeeds for the most part.
I listened to the audio version and it was just fantastic! More interesting and understandable than reading it.

May 03, 2017

In order to enjoy this book, I believe you need to be (1) interested in the investment finance world, (2) be in the "student reading a textbook" mindset, & (3) not be tired (otherwise you might fall asleep quickly). The story digs into the build-up, rise, & gigantic fall of the housing/mortgage market in the 2000's. I actually work in the finance world & had just transferred to my current financial planning job when the 2008 housing market bubble popped. From the standpoint of having lived through this particular event, I found it mildly interesting to learn more of the background behind one of the biggest financial explosions the US has seen in many, many years. I plan to watch the movie of the same title starring Christian Bale, Steve Carell, Ryan Gosling, & Brad Pitt. Hopefully watching the story play out rather than listening to it will help bring some clarity to some of the fuzzy spots.

Age recommendation: 18 & over (profanity, high-level investment discussion)

On a scale of 1-10 stars, I give it 4.

BPLNextBestAdults Jun 07, 2012

What a great title to be held captive with on a recent road trip!

This book might be called required reading for anyone with an eye on the stock market and a desire to understand causes and effects of the Great Recession of 2008. The author, Lewis, is very “hot” right now, with a past and current portfolio of books on various financial events and topics. In this book, he explains how the financial industry obscured credit risk by packaging and repackaging low-quality subprime mortgages into complicated securities that would receive secure, high credit ratings. Included are the main players and banks, and sadly it leaves you believing there are few honorable players in the industry. The audio version contained a bonus interview with the author on the aftermath of the collapse. I’m now looking forward to reading the author’s next book, Boomerang, a travelogue about the European debt crisis.

Mar 16, 2012

The Big Short by Michael Lewis is one of the smartest books I ever read and it rarely meanders. This short history is a careful explanation of an occurrence that was fraught with extremely complicated financial and mathematical models. If you come away feeling like you still don't fully understand credit default swaps and consolidated debt obligations, then you're not alone. (I still don't.) Part of the truth is they were mostly designed to be complicated, and another part is Wall Street was searching for even more creative ways of creating wealth from nothing.

It's almost too simplistic to reduce the sub-prime mortgage crisis down to simple explanations such as greed, being uninformed, targeting the lower middle class, fraud, lack of regulation or even a simple loss of values. The truth is much more complicated. I was most intrigued to peer into the daily lives of the types of people who inhabit the Wall Street culture. It seems most of them aren't driven primarily by greed, though need for unbelievable sums of money does play a significant role. It's like they see the financial markets as a game and they want to play, and given this culture possesses the raw power to move and shake the world, it's natural for ambitious people to want to be included.

Read this book if you're looking for why the sub-prime mortgage crisis happened. The answer is both routinely boring and really, really frightening.

abbey_number1 Feb 22, 2012

The characters in this book lead you through the complicated 2008 financial disaster in an interesting way because they figured out what was happening before Wall Street did and were smart enough to bet against the financial industry. I had no idea all that happened and it is worth it for everyone -- investors and tax payers to read the story and learn what happened to the financial industry.

Feb 08, 2012

Told in Lewis's storybook fashion, it is very enjoyable to listen to.


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May 03, 2017

jandt_mcmurray thinks this title is suitable for 18 years and over


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