Technically it did. People were screaming that there was a problem for years. This story makes it look like a few people were the only ones to see what was coming. Lots and lots of people knew. No one listened. So...even if there was a movie...it would have been ignored like everyone and everything else.
Nothing would have been different. People still support the same kinds of policies by voting in the same corrupt politicians. Now, more than ever, markets are being manipulated by politics. Also Hollywood has a huge responsibility in all of this as it supports exactly these politicians. The movie was also never meant to prevent anything like that from happening or happening again. All it was for is capitalizing of the crisis and the stupidity of the people.
I hated this scene. Sure they put in the bit with the family losing their home but we never talked to those people. The loan officers for the most part made out just fine in the crisis. Showing them job hunting turns the ending into a story of clash between a bunch of rich dudes some of whom lost and others won. But that is not the real story. The real story is all the homeless people because housing prices were and continue to be artificially high due to government intervention in the market. The real story is young people who can't start families because the government bailed out pension funds instead of paying for college educations. And yes of course the people who were conned into much more risky mortgages than they realized.
Peter Lonjers that family in the minivan was talked to, just the dad in the same general area where they talked to the real estate agent and the mortgage duo one of the guys informed the dad that their land lord wasn't paying
@@robbie_ it's also ez to say when make 30k. I love working. But to pay for my life. Life isn't about economical stress. It's a major contributor to death
This was a lovely comment to read, life is not about money. Good finances help but they are no replacement for what really matters, friends, family, hobbies etc
@@essentialjudge2279 If that's the case why has life expectency continued to increase? It's not all about money, but money helps a lot, as shown in wellness surveys.
@@5packzach Well no fucking shit. That company would be worthless, obviously. Burry was buying stocks at a time when investors, like the guy on the phone call, had become more risk averse. Burry is a value investor which means his portfolios are tilted towards buying securities that the market was undervaluing, it made perfect sense in 2008 because everyone was looking to cash out instead of waiting for the market to recover, which it did just two years later. A diversified portfolio of stocks in 2008 would've clearly and predictably blown every other investment out of the water for years afterwards.
The thing that was not mentioned in the movie was that DR.Burry was buying low liquidity stocks. Nobody knew what was going on with the economy. So investors were scared since he bought low liquidity stocks. I think that was the thing that got investors scared. Buying at all-time lows is also hard because you have no indication if the market is gonna go even lower.
good for you because most of people dont know how this world run. And what is the real god . Like in Mr.robot movie , Eliot said : there is 1% of the world population and the top 10 of that 1% is doing god job without permission . So finance runs the world
the homie at the gas station ... people like depicted there are my heroes, they have not much, struggle and shit, but they love and care for their family
The line about people wanting an authority to tell them what to value but not basing it on facts or results is so true for our culture today that is brainwashed by the media and govt (same thing).
Great movie at all. I think it says the things with their real names and gives reference not only for what happened in 2007-08 but also about the future. But those two minutes of the film - I think they are the essence of the movie and had really, really big impression on me.
@@andresmendozaondatube Inflation is rising extremely quickly so the fed needs to raise taxes to compensate, meaning everything will cost more to a point of unsustainability... then.. boom
@@skullz03 I’m a businessman Money money money it’s always on my mind be it Sunday or dropping kids to school it’s always back of my mind my management skills to run the business That part kills life
that scene where he has people make decision based on authoritativeness rather than facts is what hit home. People just believe what people say, instead of investigating themselves
nycdave7 Iv been trying to tell people the difference between republicans and democrats, and you just did they for me thank you and welcome to the Republican Party.
When I worked at a discount broker, there were 3 classes when the market dropped. The poor sold, the middle class did nothing, and the wealthier transferred cash in so they could buy everything in sight.
@@ninadtp1542 Actually, it is easy to tell the market movements. There is a difference between traders and investors. Traders are typically out of their positions within 2 weeks.
John Doe Well yes and no, the reason most don't buy stock when it goes that low is because the risk of the business filing bankruptcy has increased significantly. It's like buying a Ferrari thats teetering on the edge of a cliff for $5000, yes if you get the car back your gamble will have paid off but if it doesn't (which it most likely won't) then you have in essence burned that money, this also more commonly known as risk vs reward.
@@therookie7349 Actually no, what you are referring to is idiosyncratic risk which can be diversified away. Stocks could be underpriced because investors have become more risk averse in general like the guy on the phone call and are piling into 'safe' havens like gold and bonds. Burry is and always was a value investor so buying stocks that are undervalued is kind of his entire business model.
@@colderplasma you can diversify away the risk of losing everything, but not of a loss, at least in the short term. If you lose everything on diversified enough stocks you have bigger problems anyway
@@sawyernorthrop4078 I’ll say it again. Burry is a value investor. He will always invest in securities that are underpriced relative to some fundamental metric. It should not be surprising to anybody that he is buying stocks after a huge drawdown in prices.
It doesn't matter what industry you are in. Im working very hard as a cryogenic tanker truck driver. I earn good money and have great health benefits. But working for this company for 4 years at an average of 64-67 hours a week, it has killed the part of me that enjoyed life and all the energy I have. It has left me lonely, depressed, and hopeless. And yet as hard as I try with all my mental facilities all I see is a dead end. I need a miracle!
Modern life for most people has become slaving away at a job for 30-40 years with the barest hope that one day they can stop, relax, and do what they want. But for many, when the time does come to rest, they find that their job has become their life, and become afraid that their lives will become meaningless in retirement, and so they go on working.
The family living in their car is the most horrific gut wrenching scene in a film. I think of it often, men and women with children who through no fault of their own were thrust in generational poverty. 2008 will forever be marked by historians as the beginning of the end for the American Empire.
I loved that. It was a big FU to everyone that had whined at him. In the land of the blind the one eyed Burry was King. Bravo Michael Bravo. Scary thing is, the guy was getting involved in water markets ...
In all honestly I though he would make more I think the issue was he started to soon and had to sell when the entire economy was collapsing, either way pretty amazing story.
@@kodiakidk It would have been risky betting on which banks would be bailed out. Bear Sterns and Lehman Swaps wouldn’t have been paid, so that was a whole nee layer of risk. Bird in the hand.
Dr. Burry was right about the housing crisis, buy he also just recently shorted Tesla. I’d love to read the responses to this post in the next few years.
Tesla, for all its bells and whistles about being the "future" of transportation, is still operating in the red and even though the stock spiked due to an agreement with Hertz rent a car, it still hasn't brought it into the black. Burry also spoke to the fact that other existing auto manufacturers will be releasing cheaper hybrid and full-electric vehicles not just in the USA but EVERYWHERE.
@@Fan_Made_Videos The fact that other manufacturers are changing the business model (or part of their business model) should make Tesla even more reliable, don't you think?
@@crepperwlp not necessarily. Means they no longer have the same grip on the market. Tesla also has build idiosyncrasies and a notoriously prickly figurehead who gets fits of pique now and then like the dude with the cave rescue and Clarkson et Al for daring to critique the Tesla with not 💯 fulsome praise. Taken together means there is growth for new entrants but how does Tesla diversify to keep its USP/market share? Does it go even more luxury? Where it completes with better known luxury marques. Does it go cheaper harming it's bottom line? Just because a lane gets busier doesn't make the ride smoother. Elbows come out. So I'm not saying Tesla will fail but it's not a given a more competitive market means Tesla will be better off. Look at Netflix, it had a stellar time in lockdown but growth is slowing and it's underlying issue of purely being a streaming service is starting to catch up. Where does it go next now you have Amazon, Disney+, NowTv and so many more. Netflix was first. Doesn't mean it'll survive. Tectonic plates move. Earthquakes happen.
Note how, even though he keeps the "M.D." suffix in his name, Burry doesn't even precede his name with "Dr.", even though he totally could. That really shows how much he knows how former Scion clients have come to regard him since he (rightfully) invested the $1.3 billion in credit-default swaps for the mortgage bonds.
I hate how the most disgusting part of the 08 crisis and what will be the next crisis is on full display. Consolidated wealth buying up land and keeping it. The 08 crisis had 6 million people lose their homes. HUD is predicting that 12 million people might become homeless by March 2022. At least 1 million people will be homeless by the end of this month (Sept. 2021). 08 is happening again, and it’s gonna be very bad.
He was right about the poor paying . The guy paid his rent and ended up living in a van with his kids. I had a friend that sold everything in their house except their bed and dressers .and had to move to a smaller house .
At the 30 seconds of this video, the guy working on the market used yo work in the Scion firm. What happened? Scion firm closed after having all that gain?
Jesse Pantoja Running a hedge fund after a huge economic crash is not worth the time. He's already made his investors and himself so much money, there is no need to put up with the bullshit anymore.
Because the film was relatively new when I uploaded it and didn't want to have spoilers. Also, I uploaded the part of the movie that resonated with me the most.
I liked this scene, but I don't exactly understand it. He closed down the fund, but did he and his clients end up making profits or did his clients loose their money ?
They earned a lot of money , as he wrote on that board. But after that he closed the fund as he doesnt want to run it anymore. And the investor maybe went to another fund manager to put their money in to invest more
no it was the bit in the middle where he was paying money out for the swaps, (bets he made) which was basically losing money so it the fund was in the negative. So everyone lost all their money on paper where the sueing was an issue. It wasn't even the crash that turn it around for them but months later
+Arlin Adler Oscar winner Bale manages to make one of his eyes look glass by forcing it to be lazy. In real life, Burry does have a glass eye. He got it , because he had a rare form of cancer and had to have his left eye removed before the age of two.
@@AdamTrupish Yeah in hindsight it was a genius move, but it could’ve ended up being the next big hedge fund blowup story. I know he had extreme conviction in his trade, but throw all your eggs in one basket? Damn, his investors had every right to shit on him. That’s not what they hired him for, or signed up for.
@@AdamTrupish True, but hedge funds blow up all the time. You can't invest in a hedge fund then whine about it being too risky. As for Greenblatt managing a "fund of funds" and Burry completely changing his strategy, yeah, I can see why Greenblatt got a bit agitated :)
I remember thinking how this was going to end badly, at the time. Teaser rates on adjustable rate mortgages , no income verification, etc. I wish I were an investor with discretionary risk money in his fund. The main risk factor became the credit rating agencies criminally propping up the CDO values with AAA ratings, even as mortgage defaults accelerated on cue.
You can’t put your faith in authority, especially when it comes to determining value. Even if they aren’t crooked (which is a safe bet), they aren’t competent enough to be given that power. Engineering still works (there isn’t enough space between people and product to shift responsibility), and a few other things, but you are a fool if you outsource your thinking to strangers who suffer no consequences for being wrong, no matter how catastrophic.
Does this sound relevant to today...Trump is about to be inaugurated..."People want an authority to tell them how to value things, but they choose this authority not based on facts or results. They choose it because it seems authoritative and familiar." --Dr. Michael J. Burry, first to identify the Housing Bubble in 2005
And now, 4 years later, Trumpy boy is out. One-term, double-loser, double-impeached failed businessman who still has deluded people calling him "Mr. President".
Why would those brodudes be looking for jobs? I guess they were so stupid that they actually bought into their own bullshit and took out subprime loans themselves. Get hard assets in cash and keep some cash. I'm sure it's just supposed to be a sort of "you get what you deserve" moment, but it's not realistic. Even basketball players that go insane with their money take a few years to go totally bankrupt.
This movie should have won a bunch of awards. I just don't think the American public gets it. They should. Teach economics in schools. Teach basic accounting. STOP teaching the kids to be WOKE. It's just making them more subservient to the government and the banks. PLEASE.
I love the scene where the family is living out of their car. I mean, they signed a mortgage on a million dollar home with no job, but fuck it. Personal responsibility is totally politically incorrect.
You never saw the whole movie but chose that particular scene to misinterpret it to make it sound like you're some up-by-the-bootstraps Chad millionaire and you're not. As it was already pointed out, the family rented a house from a landlord who defaulted on it due to the ARM that eventually adjusted and the landlord chickened out and ran.
![The Big Short (2015) - Mark Baum''s Final Decision & The Aftermaths (Re-Upload) [HD 1080p]](http://i.ytimg.com/vi/Bu2wNKlVRzE/mqdefault.jpg)
![บุกร้านไอศกรีม VJ วุ้นเส้น !!!! [ดูคลิปเต็มหน้าช่อง] #Short | PANG ORNHIRA](http://i.ytimg.com/vi/g549nEhKZdc/mqdefault.jpg)
It would have been really helpful if this movie would have came out before the crash
Wat
@@czoom51 Huh
Technically it did. People were screaming that there was a problem for years. This story makes it look like a few people were the only ones to see what was coming. Lots and lots of people knew. No one listened. So...even if there was a movie...it would have been ignored like everyone and everything else.
@@CarlG84mm this ^^
Nothing would have been different. People still support the same kinds of policies by voting in the same corrupt politicians. Now, more than ever, markets are being manipulated by politics. Also Hollywood has a huge responsibility in all of this as it supports exactly these politicians.
The movie was also never meant to prevent anything like that from happening or happening again. All it was for is capitalizing of the crisis and the stupidity of the people.
“You’re buying stocks? The market is at an all time low. This is crazy.”
That’s the tactic of every successful investor in history.
That, and he had the balls to question Mark after he just made him 487 million dollars. Unprecedented levels of ignorance...
I love that scene where those arrogant loan officers are looking for work at Ikea and KFC
And the cocky real estate agents were at a real estate get rich quick seminar
I hated this scene. Sure they put in the bit with the family losing their home but we never talked to those people. The loan officers for the most part made out just fine in the crisis. Showing them job hunting turns the ending into a story of clash between a bunch of rich dudes some of whom lost and others won. But that is not the real story. The real story is all the homeless people because housing prices were and continue to be artificially high due to government intervention in the market. The real story is young people who can't start families because the government bailed out pension funds instead of paying for college educations. And yes of course the people who were conned into much more risky mortgages than they realized.
@@peterisawesomeplease That family didn't lose their home, they were renting. They lost a place to live.
I think they are meant to represent the average Joe's that suffered.
And the real estate agent came off as naive for me, a willing dupe, a pawn.
Peter Lonjers that family in the minivan was talked to, just the dad in the same general area where they talked to the real estate agent and the mortgage duo one of the guys informed the dad that their land lord wasn't paying
"This business kills the part of life that is essential". Burry's best and most important and overlooked shared knowledge.
It's easy to say when you're worth a hundred million.
@@robbie_ right right
@@robbie_ it's also ez to say when make 30k. I love working. But to pay for my life. Life isn't about economical stress. It's a major contributor to death
This was a lovely comment to read, life is not about money. Good finances help but they are no replacement for what really matters, friends, family, hobbies etc
@@essentialjudge2279 If that's the case why has life expectency continued to increase? It's not all about money, but money helps a lot, as shown in wellness surveys.
"buying stocks? the markets are in all time lows..." hahaha isn't that what people always want?
Not if the company they are buying stock in will collapse.
Well, in that case I agree. :)
@@5packzach Well no fucking shit. That company would be worthless, obviously. Burry was buying stocks at a time when investors, like the guy on the phone call, had become more risk averse. Burry is a value investor which means his portfolios are tilted towards buying securities that the market was undervaluing, it made perfect sense in 2008 because everyone was looking to cash out instead of waiting for the market to recover, which it did just two years later. A diversified portfolio of stocks in 2008 would've clearly and predictably blown every other investment out of the water for years afterwards.
Always buy high running stocks bcz they have the inherent energy to do so.
The thing that was not mentioned in the movie was that DR.Burry was buying low liquidity stocks. Nobody knew what was going on with the economy. So investors were scared since he bought low liquidity stocks. I think that was the thing that got investors scared. Buying at all-time lows is also hard because you have no indication if the market is gonna go even lower.
This is one of the best films of 2015. It is a HUGE eye opener......well at least for me.
good for you because most of people dont know how this world run. And what is the real god . Like in Mr.robot movie , Eliot said : there is 1% of the world population and the top 10 of that 1% is doing god job without permission . So finance runs the world
And I think the movie didn't tell the whole story regarding the government's involvement.
Watch the movie Margin Call too. It's another fantastic one about 2008 collapse.
@@teddykgb3865 It is a good movie for people in the financial industry. It is too dense for common people to understand what was going on.
“You know what the problem is? People just want to hear things they already believe.” - Bojack
the homie at the gas station ... people like depicted there are my heroes, they have not much, struggle and shit, but they love and care for their family
Bruce Wayne, the intern years
Quote about Authority is spot on
And true today.
1:03 Damn thats a hard hit right there. You know this played out everywhere, good people losing it all.
Yeah, but you know people also have some blame, in Margin Call there is this clip th-cam.com/video/2f2kGHcdJYU/w-d-xo.html
The line about people wanting an authority to tell them what to value but not basing it on facts or results is so true for our culture today that is brainwashed by the media and govt (same thing).
It's not just today. It's been like this for all of human history.
we're brainwashed by our own culture, which prizes consumption and greed
+489%
I bet the guys who pulled their money out felt like shitheads afterwards.
Vito C Probably Not man..
how much is that in actual money?
@Vito C ---- Yes, they felt like shithead, but money doesn't smell.
frank wolftown His fund started at $550m, so 489% increase results in $2.689b
Great movie at all. I think it says the things with their real names and gives reference not only for what happened in 2007-08 but also about the future.
But those two minutes of the film - I think they are the essence of the movie and had really, really big impression on me.
Христо Георгиев was not expecting to see Russian guy here lol.
He warned us in Feb 2021 to get out of the markets and the SEC paid him a visit to shut him up.
We are not due for a crash yet. He is again too early. The crash will come in early 2023.
@@cobes11 why would a crash happen?
@@andresmendozaondatube Inflation is rising extremely quickly so the fed needs to raise taxes to compensate, meaning everything will cost more to a point of unsustainability... then.. boom
@@cobes11 Why not in 2022 ?
@@SS-dl6oq Because people are stubborn and there is a huge influx of foreign money. Maybe November 2022, but I predict Feb-March of 2023.
This line really hits me hard
This business kills the part of life that is
essential
The part that is nothing to do with business
What does it mean to you ? I have been trying to make sense of it ?
@@skullz03 I’m a businessman
Money money money it’s always on my mind be it Sunday or dropping kids to school it’s always back of my mind my management skills to run the business
That part kills life
This movie should've been released in the horror genre
What is crazy is that with what is happening right now there is material for a big short 2 with him in the right side of history again
Who's the chad in your profile pic
@@m-linko Nietzsche
that scene where he has people make decision based on authoritativeness rather than facts is what hit home. People just believe what people say, instead of investigating themselves
nycdave7
Iv been trying to tell people the difference between republicans and democrats, and you just did they for me thank you and welcome to the Republican Party.
@@angeloterrones9789 lol the point of the comment completely flew over your head, "i think for myself thats why im a republican"
@@lemarz8006 aren’t you the guys that are blindly following the “experts” aka Fauci just cause he’s a “doctor”? Oh and “Trust the experts”. Hahahaha
@@angeloterrones9789 It’s been five years, curious if you’ve grown in maturity at all since this comment
@@DS-qz2gu I don’t remember leaving this comment I was most likely trolling at that time.
That scene where the man is hugging is family breaks my heart.
@D Unethical? LOL. Btw, the landlord who signed the mortgage on the house featured in that scene was nowhere to be found in the movie
“Your buying stocks right now?! The market is at an all time low!”
Well thats kinda the idea????………
When I worked at a discount broker, there were 3 classes when the market dropped. The poor sold, the middle class did nothing, and the wealthier transferred cash in so they could buy everything in sight.
Buying the dip!
Yeah but you don't know whether and most imp that when it'll go up?
@@ninadtp1542 Actually, it is easy to tell the market movements. There is a difference between traders and investors. Traders are typically out of their positions within 2 weeks.
Kinda felt damn sad after this part, its like the brightest minds have some deep stuff they don't open up about.
No all of them are like this
@@juanzuniga996 😂 underrated
"You're buying stocks, the market is at an all time low this is crazy" CRAZY SMART
John Doe Well yes and no, the reason most don't buy stock when it goes that low is because the risk of the business filing bankruptcy has increased significantly. It's like buying a Ferrari thats teetering on the edge of a cliff for $5000, yes if you get the car back your gamble will have paid off but if it doesn't (which it most likely won't) then you have in essence burned that money, this also more commonly known as risk vs reward.
@@therookie7349 Actually no, what you are referring to is idiosyncratic risk which can be diversified away. Stocks could be underpriced because investors have become more risk averse in general like the guy on the phone call and are piling into 'safe' havens like gold and bonds. Burry is and always was a value investor so buying stocks that are undervalued is kind of his entire business model.
Buy high sell low))). Ape nation! AMC and GME!
@@colderplasma you can diversify away the risk of losing everything, but not of a loss, at least in the short term. If you lose everything on diversified enough stocks you have bigger problems anyway
@@sawyernorthrop4078 I’ll say it again. Burry is a value investor. He will always invest in securities that are underpriced relative to some fundamental metric. It should not be surprising to anybody that he is buying stocks after a huge drawdown in prices.
It doesn't matter what industry you are in. Im working very hard as a cryogenic tanker truck driver. I earn good money and have great health benefits. But working for this company for 4 years at an average of 64-67 hours a week, it has killed the part of me that enjoyed life and all the energy I have. It has left me lonely, depressed, and hopeless. And yet as hard as I try with all my mental facilities all I see is a dead end. I need a miracle!
So.....just how are you dodging the HOS requirements?
@@mikedeloach6849 I'm not dodging the HOS requirements. You can work 70 hours a week.
Men like you carry the world. Keep at it until you reach your financial goals! You inspire me.
Modern life for most people has become slaving away at a job for 30-40 years with the barest hope that one day they can stop, relax, and do what they want. But for many, when the time does come to rest, they find that their job has become their life, and become afraid that their lives will become meaningless in retirement, and so they go on working.
this scene also applies to life in general
Wow, what a cast.
The family living in their car is the most horrific gut wrenching scene in a film. I think of it often, men and women with children who through no fault of their own were thrust in generational poverty. 2008 will forever be marked by historians as the beginning of the end for the American Empire.
And then he marks down that the latest figure shows the fund worth BILLIONS.
yeah, really irritating that they cut that out of the clip. Kinda adds all the needed context.
I loved that. It was a big FU to everyone that had whined at him. In the land of the blind the one eyed Burry was King. Bravo Michael Bravo. Scary thing is, the guy was getting involved in water markets ...
great vid
In all honestly I though he would make more I think the issue was he started to soon and had to sell when the entire economy was collapsing, either way pretty amazing story.
He didn't make more, because he sold early and didn't wait for the government bailout
@@kodiakidk It would have been risky betting on which banks would be bailed out. Bear Sterns and Lehman Swaps wouldn’t have been paid, so that was a whole nee layer of risk. Bird in the hand.
Dr. Burry was right about the housing crisis, buy he also just recently shorted Tesla. I’d love to read the responses to this post in the next few years.
He sold his short position.
Tesla, for all its bells and whistles about being the "future" of transportation, is still operating in the red and even though the stock spiked due to an agreement with Hertz rent a car, it still hasn't brought it into the black. Burry also spoke to the fact that other existing auto manufacturers will be releasing cheaper hybrid and full-electric vehicles not just in the USA but EVERYWHERE.
@@Fan_Made_Videos The fact that other manufacturers are changing the business model (or part of their business model) should make Tesla even more reliable, don't you think?
@@crepperwlp not necessarily. Means they no longer have the same grip on the market. Tesla also has build idiosyncrasies and a notoriously prickly figurehead who gets fits of pique now and then like the dude with the cave rescue and Clarkson et Al for daring to critique the Tesla with not 💯 fulsome praise. Taken together means there is growth for new entrants but how does Tesla diversify to keep its USP/market share? Does it go even more luxury? Where it completes with better known luxury marques. Does it go cheaper harming it's bottom line? Just because a lane gets busier doesn't make the ride smoother. Elbows come out. So I'm not saying Tesla will fail but it's not a given a more competitive market means Tesla will be better off. Look at Netflix, it had a stellar time in lockdown but growth is slowing and it's underlying issue of purely being a streaming service is starting to catch up. Where does it go next now you have Amazon, Disney+, NowTv and so many more. Netflix was first. Doesn't mean it'll survive. Tectonic plates move. Earthquakes happen.
Nice.
Спасибо
People need to watch this, margin call, and too big to fail to see the whole damn picture of how atrocious the 2008 crash really is
Buying at all time lows is smart. Means there's a lot of great companies at big discounts because of macro factors. You just need to go long term.
Note how, even though he keeps the "M.D." suffix in his name, Burry doesn't even precede his name with "Dr.", even though he totally could. That really shows how much he knows how former Scion clients have come to regard him since he (rightfully) invested the $1.3 billion in credit-default swaps for the mortgage bonds.
If that really were intentional, he would have left M.D. off there
Wut
I hate how the most disgusting part of the 08 crisis and what will be the next crisis is on full display. Consolidated wealth buying up land and keeping it. The 08 crisis had 6 million people lose their homes.
HUD is predicting that 12 million people might become homeless by March 2022. At least 1 million people will be homeless by the end of this month (Sept. 2021). 08 is happening again, and it’s gonna be very bad.
The best part about this scene was how he described how he met his wife.
The loan officers weren't smart enough to save for a rainy day.
He was right about the poor paying . The guy paid his rent and ended up living in a van with his kids. I had a friend that sold everything in their house except their bed and dressers .and had to move to a smaller house .
You're paying a fund manager to convince you not to sell :)
Shout out to Ikea!!!
At the 30 seconds of this video, the guy working on the market used yo work in the Scion firm. What happened? Scion firm closed after having all that gain?
more like in the middle where they were losing money hand over foot, and had to let pretty much everyone go
Jesse Pantoja Running a hedge fund after a huge economic crash is not worth the time. He's already made his investors and himself so much money, there is no need to put up with the bullshit anymore.
boba719 thanks man!....
mellon marshall ....thx!
U did it to ya self pal
I has...just wait for the next one.
The next crisis is near.
"I get that Bruce Wayne inherited a lot of money, but how did he survive 2008 and turn into crazy money?"
Bruce Wayne making crazy money:
Why did you leave out the part where he updates the whiteboard?!?!
Because the film was relatively new when I uploaded it and didn't want to have spoilers. Also, I uploaded the part of the movie that resonated with me the most.
I laughed my ass off when I saw the 2 Chads from earlier in the film at the job expo
TLDR version: "buy the dip!"
He really had to burry that fund deep.
Ya'll should go follow Michael Burry on twitter.
You can't take investor's funds to Las Vegas and bet them all on red or black. Even if you win, you never had the authorization to take that risk.
If you disclosed to them prior to investing what you will do with the funds then yes, yes you do
This is me every time I write a TH-cam comment.
Love it when he rubs the old figure with new figure....whopping profit 👍👌
I liked this scene, but I don't exactly understand it. He closed down the fund, but did he and his clients end up making profits or did his clients loose their money ?
They earned a lot of money , as he wrote on that board. But after that he closed the fund as he doesnt want to run it anymore. And the investor maybe went to another fund manager to put their money in to invest more
He used $1.3 billion from the fund and at the end they got back $2.69 billion. Profit !
+Hoàng Vũ . OK, got it. So all his clients that were threatening to sue him ended up making a nice profit. Thanks for clearing that up.
+Hoàng Vũ 2.69 billion profit from the inception of the company not only from the collapse.
no it was the bit in the middle where he was paying money out for the swaps, (bets he made) which was basically losing money so it the fund was in the negative. So everyone lost all their money on paper where the sueing was an issue. It wasn't even the crash that turn it around for them but months later
"+489%"
Micheals last employee working at a gas station stocking Red Bulls.
Less stress and when the end comes you can see it
Why his employee got fired while he got profits? I don't understand
I’m pretty sure they left the firm after a lot of the investors were trying to sue him.
besides, the fund didnt collect management fee. the fund was losing money before the crash so he might have to let people go.
Because he made it "illegal" to draw money out of the fund
Geeezź!! So human and emotional... that too to wealthy investors.. gross!!
is it true michael j burry only has one eye?
+Arlin Adler Oscar winner Bale manages to make one of his eyes look glass by forcing it to be lazy. In real life, Burry does have a glass eye. He got it , because he had a rare form of cancer and had to have his left eye removed before the age of two.
viksra
good job on the info viksra
Yes
+Arlin Adler He was also diagnosed with Asperger syndrome
+crangel21 it's good to see the condition Asperger's portrayed in the film as I have got the condition aswell.
When you got hella puts’
Good luck TSLA. I wouldn't bet against Michael Burry.
This makes me never want to contribute to society for the sake of saving my own ass.
:40 clapping vultures
He look like Christian bale
YoUR bUYinG StoCKs??
It was a pretty reckless move with other people's money even if he was right
Except that he's a freaking genius and his previous track record should have given him some leeway with his dimwit clients
@@EdDunkle that market could have stayed irrational just a bit longer and he could of been insolvent
@@AdamTrupish Yeah in hindsight it was a genius move, but it could’ve ended up being the next big hedge fund blowup story. I know he had extreme conviction in his trade, but throw all your eggs in one basket? Damn, his investors had every right to shit on him. That’s not what they hired him for, or signed up for.
@@AdamTrupish True, but hedge funds blow up all the time. You can't invest in a hedge fund then whine about it being too risky. As for Greenblatt managing a "fund of funds" and Burry completely changing his strategy, yeah, I can see why Greenblatt got a bit agitated :)
I remember thinking how this was going to end badly, at the time. Teaser rates on adjustable rate mortgages , no income verification, etc. I wish I were an investor with discretionary risk money in his fund. The main risk factor became the credit rating agencies criminally propping up the CDO values with AAA ratings, even as mortgage defaults accelerated on cue.
How can he not address the real problem here: immigrants and poor people?????
_Because it seems authoritative and familiar._ This is religion.
I was thinking more along the lines of politicians.
dark zaku He meant anything with authority.
Or business owners.
You can’t put your faith in authority, especially when it comes to determining value. Even if they aren’t crooked (which is a safe bet), they aren’t competent enough to be given that power.
Engineering still works (there isn’t enough space between people and product to shift responsibility), and a few other things, but you are a fool if you outsource your thinking to strangers who suffer no consequences for being wrong, no matter how catastrophic.
I love that Capitalism is being attacked for it's flaws. The older I get the more flawed it seems to me
You left THE BEST part out... when he writes his gains on the board... booooo
Does this sound relevant to today...Trump is about to be inaugurated..."People want an authority to tell them how to value things, but they choose this authority not based on facts or results. They choose it because it seems authoritative and familiar." --Dr. Michael J. Burry, first to identify the Housing Bubble in 2005
myssemily Same would hold for Clinton (father and daughter), Obama and Bush. Politicians are all the same as time has proven by now.
And now, 4 years later, Trumpy boy is out. One-term, double-loser, double-impeached failed businessman who still has deluded people calling him "Mr. President".
He is L from death note
Why would those brodudes be looking for jobs?
I guess they were so stupid that they actually bought into their own bullshit and took out subprime loans themselves.
Get hard assets in cash and keep some cash. I'm sure it's just supposed to be a sort of "you get what you deserve" moment, but it's not realistic. Even basketball players that go insane with their money take a few years to go totally bankrupt.
This movie should have won a bunch of awards. I just don't think the American public gets it. They should. Teach economics in schools. Teach basic accounting. STOP teaching the kids to be WOKE. It's just making them more subservient to the government and the banks. PLEASE.
Bernie Sanders - The President We Need
Wasn't it, but sure created an inauguration meme that will most likely outlive him.
The democrats messed up everything
I love the scene where the family is living out of their car. I mean, they signed a mortgage on a million dollar home with no job, but fuck it. Personal responsibility is totally politically incorrect.
You loved that scene huh? You like to talk about personal responsibility, but what about the personal responsibility to not be a heartless bastard?
they were renting the house... the owner wasnt paying the mortgage
You never saw the whole movie but chose that particular scene to misinterpret it to make it sound like you're some up-by-the-bootstraps Chad millionaire and you're not. As it was already pointed out, the family rented a house from a landlord who defaulted on it due to the ARM that eventually adjusted and the landlord chickened out and ran.
Bernie Sanders - The President We Need
but not the one we deserve