The Big Short is a book about the building up of United States Housing Bubble. This phenomenon appeared in the 2000s when the housing prices in the US started fluctuating. The prices reached their peak in 2006 and then started declining in 2007. According to the reports, 2008 saw the lowest decline in the history of housing prices. The book is focused on the formation of this bubble and the reason for its formation.
The Big Short pdf Review:
The book was written b US writer Michael Lewis. It was published in 2010 by W.W. Norton and Company. This book took the market by storm staying on the New York Times Bestsellers List for 28 weeks straight. It also received the 2011 Robert F. Kennedy Centre for Justice and Huma Rights Book Award. The book was received warmly by the readers. During the early 2000s, these mortgaged were the main thing the economy was sitting on. Lewis talks about how mortgage companies made these terrible mortgages seem good for investors. The truth was that these mortgages were of poor quality and were not actually benefitting the investors.
The Big Short PDF Features:
- It talks about what lead to the 2008 global financial crisis and the forces behind this crisis.
- Lewis talks about how the crash affected everyone and everything including the interest rates, mortgages and prices of properties.
- Lewis portrays how many people failed to see that the fall of the financial building was inevitable during that time. It was quite obvious and if people at that time looked hard enough, they would have figured it out earlier.
- However, only a few geniuses including Michael Burry and Steve Eisman who was a New York analyst figured it out and placed bets on the odds of the financial collapse occurring.
- During the end of 20th century, financial companies were largely investing in the US housing market. They never expected the home prices to decline.
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