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Book Summary: The #1 New York Times bestseller: "It is the work of our greatest financial journalist, at the top of his game. And it's essential reading."—Graydon Carter, Vanity Fair The real story of the crash began in bizarre feeder markets where the sun doesn't shine and the SEC doesn't dare, or bother, to tread: the bond and real estate derivative markets where geeks invent impenetrable securities to profit from the misery of lower- and middle-class Americans who can't pay their debts. The smart people who understood what was or might be happening were paralyzed by hope and fear; in any case, they weren't talking. Michael Lewis creates a fresh, character-driven narrative brimming with indignation and dark humor, a fitting sequel to his #1 bestseller Liar's Poker. Out of a handful of unlikely-really unlikely-heroes, Lewis fashions a story as compelling and unusual as any of his earlier bestsellers, proving yet again that he is the finest and funniest chronicler of our time.
Book Summary: The time was the 1980s. The place was Wall Street. The game was called Liar’s Poker. Michael Lewis was fresh out of Princeton and the London School of Economics when he landed a job at Salomon Brothers, one of Wall Street’s premier investment firms. During the next three years, Lewis rose from callow trainee to bond salesman, raking in millions for the firm and cashing in on a modern-day gold rush. Liar’s Poker is the culmination of those heady, frenzied years—a behind-the-scenes look at a unique and turbulent time in American business. From the frat-boy camaraderie of the forty-first-floor trading room to the killer instinct that made ambitious young men gamble everything on a high-stakes game of bluffing and deception, here is Michael Lewis’s knowing and hilarious insider’s account of an unprecedented era of greed, gluttony, and outrageous fortune.
Book Summary: “Lewis shows again why he is the leading journalist of his generation.”—Kyle Smith, Forbes The tsunami of cheap credit that rolled across the planet between 2002 and 2008 was more than a simple financial phenomenon: it was temptation, offering entire societies the chance to reveal aspects of their characters they could not normally afford to indulge. Icelanders wanted to stop fishing and become investment bankers. The Greeks wanted to turn their country into a pinata stuffed with cash and allow as many citizens as possible to take a whack at it. The Germans wanted to be even more German; the Irish wanted to stop being Irish. Michael Lewis's investigation of bubbles beyond our shores is so brilliantly, sadly hilarious that it leads the American reader to a comfortable complacency: oh, those foolish foreigners. But when he turns a merciless eye on California and Washington, DC, we see that the narrative is a trap baited with humor, and we understand the reckoning that awaits the greatest and greediest of debtor nations.
Book Summary: ABOUT THE BOOK I became a Realtor in 2000, when an opportunity presented itself. I had been a journalist, slaving away at a small and insignificant newspaper in a small and insignificant town when I was offered a position creating marketing materials for a Real Estate company in a not-too-distant city. I had no idea that taking that job would thrust me in the middle of the worst financial crisis my generation would know. From that marketing position, I went to work for a Realtor and was licensed shortly thereafter. The rest, as they say, is history. When I first saw The Big Short appear at the bookstores, I was delighted. Finally, someone could explain what the hell had happened during that crazy time period that began about the time I was licensed and ended when the market exploded in middle America. At the same time, I was secretly a little afraid that there would be a list tucked inside with the names of Realtors who had sold subprime mortgages. At the time, I didnt really understand what was happening; all I knew was that the sky was falling at an accelerated pace. Michael Lewis did the research and has put the whole story together in one place. In The Big Short, he manages to turn credit default swaps, collateralized debt obligations and subprime mortgage bonds into things that will make sense to most people. If theyre anything like me, theyll finish the book weeping. MEET THE AUTHOR Kristi L. Waterworth is an experienced writer and a member of the Hyperink Team, which works hard to bring you high-quality, engaging, fun content. Happy reading! EXCERPT FROM THE BOOK The Big Short isnt simply a follow up to Liars Poker, as some reviewers (and even its author) have claimed, it is the tale of the result of the world that Liars Poker documents. The 1980s were an unrestrained era of greed that continued to build quietly until Wall Street collapsed into a broken heap in the mid 2000s. Michael Lewis was in a unique position to document the fall of the system in The Big Short, being a former inside man now on the outside. Using the stories of the few traders who came out on top of the mess, Lewis follows the subprime mortgage disaster from its more recent roots straight to its end. Men like Michael Burry, Steve Eisman and Charles Ledley didnt know what they were seeing when they first caught wind of subprime mortgage bonds, but they each had a feeling that something sinister was lurking beneath the exotic products that were being created from these risky investments. This New York Times Best Seller is worthy of the accolades it has claimed, considering that it manages to be a cautionary tale while clearly explaining financial instruments that werent even as clear to the people who were buying and selling them at their height. Lewiss combination of terror, education and the brief joy of the underdog succeeding in an apocalyptic landscape creates a sort of road map to the destruction of the subprime mortgage markets, as well as the bruising of a substantial chunk of the global financial markets. Buy a copy to keep reading! CHAPTER OUTLINE Quicklet on Michael Lewis' The Big Short Michael Lewis' The Big Short + The Disaster at the End of This Book + About the Author + About the Book + Overall Summary for The Big Short + ...and much more
Book Summary: So much to read, so little time? This brief overview of The Big Short tells you what you need to know—before or after you read Michael Lewis’s book. Crafted and edited with care, Worth Books set the standard for quality and give you the tools you need to be a well-informed reader. This short summary and analysis of The Big Short by Michael Lewis includes: Historical context Chapter-by-chapter overviews Character profiles Detailed timeline of events Important quotes Fascinating trivia Glossary of terms Supporting material to enhance your understanding of the original work About The Big Short by Michael Lewis: The writing was on the wall long before the extent of America’s worst financial meltdown since the Great Depression was made public. The mortgage bond market had become burdened with subprime loans, most of which were deceitful in their origination and ultimately resulted in delinquencies and foreclosures. Michael Lewis’s The Big Short: Inside the Doomsday Machine takes the reader behind the scenes, introducing the players and Wall Street institutions that unscrupulously helped fuel the housing bubble as well as the few who, not only foresaw the crash, but placed bets on the outcome. The summary and analysis in this ebook are intended to complement your reading experience and bring you closer to a great work of nonfiction.
Book Summary: In The Big Short (2010), journalist Michael Lewis traces the stories of a handful of misfit investors who predicted the 2008 financial crisis. In the parlance of Wall Street, to “short” something is to bet against an investment or company through the purchase of a complex high-finance product... Purchase this in-depth summary to learn more.
Book Summary: The #1 New York Times bestseller—Now a Major Motion Picture from Paramount Pictures From the author of The Blind Side and Moneyball, The Big Short tells the story of four outsiders in the world of high-finance who predict the credit and housing bubble collapse before anyone else. The film adaptation by Adam McKay (Anchorman I and II, The Other Guys) features Academy Award® winners Christian Bale, Brad Pitt, Melissa Leo and Marisa Tomei; Academy Award® nominees Steve Carell and Ryan Gosling. When the crash of the U.S. stock market became public knowledge in the fall of 2008, it was already old news. The real crash, the silent crash, had taken place over the previous year, in bizarre feeder markets where the sun doesn’t shine and the SEC doesn’t dare, or bother, to tread. Who understood the risk inherent in the assumption of ever-rising real estate prices, a risk compounded daily by the creation of those arcane, artificial securities loosely based on piles of doubtful mortgages? In this fitting sequel to Liar’s Poker, Michael Lewis answers that question in a narrative brimming with indignation and dark humor.
Book Summary: Michael Lewis's "The Big Short" packs a lot of concepts into a short space; if it's been awhile since you read the book or if you just need a quick refresher, let us help. This study guide explains all the key concepts and people in the book, as well as gives a summary of what's learned in each chapter. This book is based off of the updated and expanded version. BookCap Study Guides do not contain text from the actual book, and are not meant to be purchased as alternatives to reading the book. This study guide is an unofficial companion and not endorsed by the author or publisher of the book. We all need refreshers every now and then. Whether you are a student trying to cram for that big final, or someone just trying to understand a book more, BookCaps can help. We are a small, but growing company, and are adding titles every month.