The Big Short

The Big Short

Inside the Doomsday Machine

Pre-loaded Audiobook - 2010
Average Rating:
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Lewis examines the American economic collapse of the early 21st century, profiling very few heroes, numerous villains and several people who just should have known better. Lewis offers a biting rebuke to this motley band of financial "experts" with keen research and a sharp pen.
Publisher: [Solon, Ohio] : Playaway Digital Audio ; Prince Frederick, MD : [Distributed exclusively by] Recorded Books, LLC : [Manufactured by] Findaway World, LLC, [2010], ℗2010
Edition: Unabridged
ISBN: 9781440776731
1440776733
Characteristics: audio file,ACLEP
digital,non-volatile flash memory
1 audio media player (9 hr., 30 min.) : digital ; 9 x 6 cm.; in container 19 x 14 cm
Call Number: PLWY 330.973 LEW

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j
jandt_mcmurray
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.

d
danielestes
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.

r
r87108
Feb 08, 2012

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

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j
jandt_mcmurray
May 03, 2017

jandt_mcmurray thinks this title is suitable for 18 years and over

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