Subprime Lies

ISBN-13: 9783565251568 / Angielski / Miękka / 108 str.

Robert Carlson

Opis

"Subprime Lies - The few who saw the end of the world coming" revisits the 2008 financial crisis from the perspective of the contrarians. While the entire banking world was celebrating a never-ending housing boom, a few eccentrics like Michael Burry saw the math didn't add up.Financial writer Robert Carlson explains complex instruments like CDOs (Collateralized Debt Obligations) and Credit Default Swaps in simple terms. He shows how banks bundled toxic loans into "safe" bonds, effectively selling dog shit wrapped in cat shit.This book is a lesson in critical thinking and standing alone. It shows how difficult it is to bet against the crowd, even when the crowd is running off a cliff, and how the "smart money" is often just "lucky money" until the music stops.

The story of the misfits who bet against the American economy in 2008 and won, proving that the experts were blind to the bubble.