Well this is an edited interview so they could cut out his awkwardness. Also, the movie was trying to show him in an incredibly stressed state as he discovered the depths of the corruption and faced extreme backlash from his investors for over two years. Burry himself has said he's come to believe he suffers from some form of Asperger's after his son was diagnosed with it.
I'm glad he clarified that the problem just didn't start with the "average mortgage broker", it started with "the borrower, the average mortgage broker, the federal reserve, congress, the president, MANY presidents!!"
Do we know what is he up to these days during corona lockdown? Hope nothing bad is going on with him by the Fed, FBI or the World Bank? He's been quiet would love to hear more from him.
@@TheChrisando1991 sounds like no one's going to do anything about short squeeze or shorting more shares than what's available these days. But glad to see retail investors are benefiting from this market and squeezing the big guys.
Until he comes to work dressed in shorts and flip flops and locks himself in his office screaming "F*CK" at the top of his lungs over and over again when he was stressed lol Actually happened if you read the book. He is an interesting character.
@@iskra_besamrtna The Big Short. It was made into a fantastic movie as well. I've listened to the audio book for years and watched the movie several times.
Nothing has changed, the crisis is almost forgotten now, next time it hits, it will be so much worse. It surprises me to a point of almost fear that we just don't learn from past mistakes.
Mr. Burry should become a professor or at least be invited to universities to speak to the young minds there. People with years in Wall Street will not mend their ways just because they caused a global crisis.
At the end of the big short the captions describe that no one wanted to question Burry but he was audited FOUR times. Zero interviews, 4 audits. Tells you all you need to know about the crisis and it's inevitable sequel. See you all in the food lines
Spot on! And if they DO ever bother to pay attention, you know exactly what they would/will say.... "Oh, more chicken little, doom-and-gloom. Blah-blah. Debt-shmet. We'll be fine. THEY know what they are doing...."
Zepto Sextillion All due respect...it's people smirking while they believe themselves intellectually superior to others (Animal House line: "I don't even own a television") that is why this world is so fucked. It's not people who watch Lady Gaga who screwed things up - it's people who get their entertainment from exploiting people who watch Lady Gaga videos who have always been the real villains in history. Think about it. By the way - I was an Econ major, thought the movie interesting...but felt there was a bigger point the movie made than a lot of "smart people" seemed to recognize.
As i write this. Home values are skyrocketing again. Thinking of selling in the spring. Watching closely but it seems like we are repeating the same bubble.
One question....why has BOA been permitted to continue to foreclose on refi-mortgages predominately in Florida, even when the homeowner has followed all stipulations that BOA dictates? Is it a closed society (scheme) that stems into the Florida courts and government, including the upper officials!? It certainly appears to be a possibility. Remember the housing bubble was HUGE in Florida. This scenario "the big short" stimulated my interest in all of Michael Lewis material and the "Big Bank Game"......Thank you!
In essence what Dr. Michael Barry is saying without saying it is that we're heading for another Housing Crisis. If that's the case, then it's going to be possibly worst than 2007-2008.
so did u guys figure out why the housing in silicon valley goes up when the market goes down? it's 8th grade economics u see when the market goes down and inflation rises or the value of the american dollar goes down well then the value of your goods goes up they are not worth any more but actually you dollar is worth less . it's all covered in what was my 8th grade macro economics class. or NERD-101
I am on the left, but I agree that everyone needs to take a hard look in the mirror and take responsibility for themselves. He's right, the blame game is pointless.
Canada's housing market is nationalized. We have the CMHC which insures approximately 93% of all residential mortgages and some multi family building mortgages too. It seems to work there however housing prices have risen exorbitantly over the past 10 years. The forclosure process is also much more in favor of the homeowner. Not sure if the Canadian system would work in the US...
@veritas327 -all that said, Canada, like many other countries from China to Australia have severe housing bubbles and will all eventually pay the price
No one's accepting blame including Burry. He made millions rather than warning against the practice. I mean i give him that he was only betting on the sidelines rather than causing it but betting that it fails makes him as much a part of the system rather than trying to prevent it.
I love how the Big Short made literally no mention of the government's responsibility during the entire movie in order to push a certain narrative. In fact, the only reference was how the SEC wasn't doing enough. In reality, the government was providing the shell casing for this bomb, and the Federal Reserve was packing it full of explosives.
@@alexandermendez9013 nah I worked at a big company and a foreign intern made the mistake and the rest didn't catch it. That's why I made that joke cuz it actually happened lol
@bnfox - Yes. And I was thinking also of another aspect: that many decisions are legal and, singularly, may even be rational. But collectively, they compound to become something very different. Think of real estate. People buy, prices go up--and then people buy more real estate just *because* prices go up, thus pushing them up even more. Legal. Rational for the individual in the short term. But a totally irrational allocation of resources for society in the end.
I feel like bloomberg, or maybe just the interviewer don't take him seriously based on their facial reactions and cause they call him by his first name.
It's sad that you have to be a supermodel to be a news anchor now, the woman at the top of the video can only seem to move the very front of her lips and her eyelids. Way too much botox. Not judging, it's not her fault.
@skazhiprivet - a good point although it has been suggested that there are just too many to blame to prosecute eveyone. I would believe that before suggesting "no one is specifically to blame"...although I get your point - the system is corrupt and riddled with fraud to it's very core -national and local governments, banking and all it's activities, and all corporate activities in general.
What is so complicated about this? People borrowed money to buy a home. Nobody checked to see they could afford it and lent them money on betting on a Adustable rate mortgage. When enough of these defaulted there was no one left to pay. What is so complicated?
Burry's a smart dude, just not the best speaker in the world. I'm enjoying some of his antics vis a vis "The Big Short", fascinating book. Still SMH at how he raised capital for his hedge fund emailing people. WOuld love to hear the interview where goes into HOW MUCH he made shorting all this mess.
Funny he says "personal responsibility" but omits his complicity. He knew ratings in the folders were junk, and did not raise flags in 2008. Instead he bet on it to profit from it. Note he's telling you to take government regulation out of the housing market. 🙄
Don't say things like you know them to be true when you don't. This is false information, he tried to warn everybody including the US government, banks, instituions, everybody important. Nobody listened.
This man is apart of the system .... He is not that smart if he is talking like the USA government has any say in the financial matters of this country
@skazhiprivet - one of many feedback loops - though the individual works without the knowledge that the lending industry has with appraisers, agents, and brokers all in on the scam. But I get your point that these scam artists are all operating "legally" within a system that they justify by it's very (questionable) legality. I still feel the institutions should have far more responsibility and that individuals are relatively blameless - the parasitic nature of biz counts on human weakness.
"The most damaging thing we can do is blame a narrow set and not look within ourselves"..words of wisdom Dr. Berry..
Burry*
It's literally in the title lol
This dude isnt nearly as weird as the made him out to be in The Big Short.
Rob based on this interview I don't think he's weird at all...
Yeah they totally missed it in the movie
Well this is an edited interview so they could cut out his awkwardness. Also, the movie was trying to show him in an incredibly stressed state as he discovered the depths of the corruption and faced extreme backlash from his investors for over two years.
Burry himself has said he's come to believe he suffers from some form of Asperger's after his son was diagnosed with it.
@@arbitterm exactly
I think they really hung on to the fact that Burry (a qualified physician) diagnosed himself with Aspergers. But I really can't see it.
Think about it. Years since Michael said these words. Nothing has changed.
+Dean Parisian How so? Many families have been completely destroyed. The only thing that hasn't changed is the players in Washington
Scott Ya we’re all way more fucked now.
And it would remain forever ♾ as in today. What a shame.
Lots has changed.
How ab now
I'm glad he clarified that the problem just didn't start with the "average mortgage broker", it started with "the borrower, the average mortgage broker, the federal reserve, congress, the president, MANY presidents!!"
Now they can blame corona instead of themselves.
Do we know what is he up to these days during corona lockdown? Hope nothing bad is going on with him by the Fed, FBI or the World Bank? He's been quiet would love to hear more from him.
@@tammystewart10 he actually made a ton off the current gamestop situation. His amount of shares were more than a quarter of his portfolio.
@@TheChrisando1991 sounds like no one's going to do anything about short squeeze or shorting more shares than what's available these days. But glad to see retail investors are benefiting from this market and squeezing the big guys.
Dr Burry is correct. What's amazing is...it's still going on!
He should be running the financials of the united states
2:29 that face you make when the camera cuts to you and you haven't been paying attention at all
No it's just bad editing.
holy sh*t hahaha got him!!!!!!
JohnnyCash747 lol!!!
seems a pleasant and smart person
"seems" like a smart person?!
Until he comes to work dressed in shorts and flip flops and locks himself in his office screaming "F*CK" at the top of his lungs over and over again when he was stressed lol Actually happened if you read the book. He is an interesting character.
@@logicaldude3611 What's the title of the book? Thank you in advance.
@@iskra_besamrtna The Big Short. It was made into a fantastic movie as well. I've listened to the audio book for years and watched the movie several times.
Nothing has changed, the crisis is almost forgotten now, next time it hits, it will be so much worse. It surprises me to a point of almost fear that we just don't learn from past mistakes.
Mr. Burry should become a professor or at least be invited to universities to speak to the young minds there. People with years in Wall Street will not mend their ways just because they caused a global crisis.
It was gov. that caused the crisis.
He was invited to economic colleges to give speech
I know some of those words.
Here here! 🐻
At the end of the big short the captions describe that no one wanted to question Burry but he was audited FOUR times. Zero interviews, 4 audits. Tells you all you need to know about the crisis and it's inevitable sequel. See you all in the food lines
81,276 views..............meanwhile Lady Gaga is at 254,534,616.
KUDOS DAVID HARDING ..LOL .. YOU SAID IT MAN ..... THE WHOLE WORLD IS ASLEEP ....... PERFECT COMMENT ..
Good on you.
Spot on!
And if they DO ever bother to pay attention, you know exactly what they would/will say.... "Oh, more chicken little, doom-and-gloom. Blah-blah. Debt-shmet. We'll be fine. THEY know what they are doing...."
Zepto Sextillion All due respect...it's people smirking while they believe themselves intellectually superior to others (Animal House line: "I don't even own a television") that is why this world is so fucked. It's not people who watch Lady Gaga who screwed things up - it's people who get their entertainment from exploiting people who watch Lady Gaga videos who have always been the real villains in history. Think about it.
By the way - I was an Econ major, thought the movie interesting...but felt there was a bigger point the movie made than a lot of "smart people" seemed to recognize.
We are surrounded by retards.
One Of The Brilliant and Beautiful Minds!
Please release the full interview.
As i write this. Home values are skyrocketing again. Thinking of selling in the spring. Watching closely but it seems like we are repeating the same bubble.
GPH And now we have over a trillion in student loans - over 5% in complete default.
ගැම්මක් තමයි🤜
One question....why has BOA been permitted to continue to foreclose on refi-mortgages predominately in Florida, even when the homeowner has followed all stipulations that BOA dictates? Is it a closed society (scheme) that stems into the Florida courts and government, including the upper officials!? It certainly appears to be a possibility. Remember the housing bubble was HUGE in Florida. This scenario "the big short" stimulated my interest in all of Michael Lewis material and the "Big Bank Game"......Thank you!
*This video is History* .
And should never forget our history .
Is there somewhere we can see the whole interview?
Nice haircut. Did you do it yourself?
In essence what Dr. Michael Barry is saying without saying it is that we're heading for another Housing Crisis. If that's the case, then it's going to be possibly worst than 2007-2008.
so did u guys figure out why the housing in silicon valley goes up when the market goes down? it's 8th grade economics u see when the market goes down and inflation rises or the value of the american dollar goes down well then the value of your goods goes up they are not worth any more but actually you dollar is worth less . it's all covered in what was my 8th grade macro economics class. or NERD-101
I am on the left, but I agree that everyone needs to take a hard look in the mirror and take responsibility for themselves. He's right, the blame game is pointless.
I blame you Isaac
Either I'm not understanding what you mean with "left", or I missed the part where your political opinion is relevant to the words of Dr. Burry.
Michael Burry is my spirit animal.
👀 does he tweet you back tho
I've been saying the government should get out of the mortgage market for many years... and I have a lot to gain by them staying in it!
Canada's housing market is nationalized. We have the CMHC which insures approximately 93% of all residential mortgages and some multi family building mortgages too.
It seems to work there however housing prices have risen exorbitantly over the past 10 years. The forclosure process is also much more in favor of the homeowner. Not sure if the Canadian system would work in the US...
the house taxes are insanely high in Canada though. You may buy the house, but do I need a 30k tax bill every year?
And just as he starts getting into details... "were outa here"...
" I have not have had anything in canceling Glass-Steagal Act" thats' the guy to stick the ribbon to.
Its sounds like its gunna get very bumpy again soon folks, hope you're prepared.
Nope 2017 was the PERFECT bull market we hit the sweet spot if you didn't make money in stocks in 2017 then investing is not for you.
Oh really? so "perfect" in fact that year you better buckle your seatbelt Dorothy, coz Kansas... is going bye bye...
Bat Fink wrong.
How’s your prediction going?
Lol
@veritas327 -all that said, Canada, like many other countries from China to Australia have severe housing bubbles and will all eventually pay the price
They're keeping rates low to not let that happen.
No one's accepting blame including Burry. He made millions rather than warning against the practice. I mean i give him that he was only betting on the sidelines rather than causing it but betting that it fails makes him as much a part of the system rather than trying to prevent it.
He’s not wrong.
Hardly anybody takes accountability, they just blame someone else. It’s pathetic.
I love how the Big Short made literally no mention of the government's responsibility during the entire movie in order to push a certain narrative. In fact, the only reference was how the SEC wasn't doing enough. In reality, the government was providing the shell casing for this bomb, and the Federal Reserve was packing it full of explosives.
Jon maybe you would read the book instead
I agree. And property taxes. Their role is so ignored that they'll still be responsible for the next bubble as well.
Because they should have seen it coming.
WHO'S HERE IN MAY/JUNE 2020 ?
NO mortages_subprime market.
nationalization = 97% mortages over Fanie/Fredi
2024, history will repeat itself
here we go again!
Hahahahha "Frannie and Freddie" @ 2:24
Really Bloomberg? Not familiar with Fannie Mae and Freddie Mac I take it?
the foreign intern who doesnt understand and the rest didnt edit
It’s called a typo
@@alexandermendez9013 nah I worked at a big company and a foreign intern made the mistake and the rest didn't catch it. That's why I made that joke cuz it actually happened lol
why does she lick her lips when she describes the fortune he made??
Where do I go to give him my cash and let him play around with it.
"Here's eight hundred bucks, just follow your heart"
Where can I get the full interview ?
Was anyone else shocked when they heard Michael Burry’s voice for the first time?
I didn't know he was the one with the blind eye
To this day, everyone continues to blame everyone. If this statement makes you angry, you're it.
@bnfox - Yes. And I was thinking also of another aspect: that many decisions are legal and, singularly, may even be rational. But collectively, they compound to become something very different. Think of real estate. People buy, prices go up--and then people buy more real estate just *because* prices go up, thus pushing them up even more. Legal. Rational for the individual in the short term. But a totally irrational allocation of resources for society in the end.
Yep. We are hosed.
There's no "one group" to blame. Everyone is at fault, so no one isc at fault
Does anyone know what he means when he says mortgages are a function of income and leverage applied
@@quickfairfox thanks
One day someone will punish the responsible people
Yeah Trump is trying his best to send them back.
everyone had a part in this. from the borrower, to the bank, to the fed and govt. Did you not listen to what he said?
I was 14 at the time and no one believed me too. Should have shorted too.
Of course you were 14 and you knew that the housing market would crash. Smh.
I feel like bloomberg, or maybe just the interviewer don't take him seriously based on their facial reactions and cause they call him by his first name.
OG
Who are Frannie and Freddy?
It's sad that you have to be a supermodel to be a news anchor now, the woman at the top of the video can only seem to move the very front of her lips and her eyelids. Way too much botox. Not judging, it's not her fault.
September 7, 2010
@skazhiprivet - a good point although it has been suggested that there are just too many to blame to prosecute eveyone. I would believe that before suggesting "no one is specifically to blame"...although I get your point - the system is corrupt and riddled with fraud to it's very core -national and local governments, banking and all it's activities, and all corporate activities in general.
Who is the female reporter at the beginning? She is gorgeous!
its so scripted. the captions on the screen are being put up before burry has even spoken them
March 2020 Crash, we'll see what happens.
What is so complicated about this? People borrowed money to buy a home. Nobody checked to see they could afford it and lent them money on betting on a Adustable rate mortgage. When enough of these defaulted there was no one left to pay. What is so complicated?
Because everyone wants to be the victim entitled to compensation and/or vindication.
obfuscation.
Trump is doing the same blaming game right now and every Republicans think he is a geniuses.
Barre. Burry.
Burry's a smart dude, just not the best speaker in the world.
I'm enjoying some of his antics vis a vis "The Big Short", fascinating book. Still SMH at how he raised capital for his hedge fund emailing people. WOuld love to hear the interview where goes into HOW MUCH he made shorting all this mess.
When Jared Leto met Michael Burry.
It's my fault. I'm going to do it again this week. Now go away
Funny he says "personal responsibility" but omits his complicity. He knew ratings in the folders were junk, and did not raise flags in 2008. Instead he bet on it to profit from it. Note he's telling you to take government regulation out of the housing market. 🙄
He tried to tell folks, they just didnt listen.
Don't say things like you know them to be true when you don't.
This is false information, he tried to warn everybody including the US government, banks, instituions, everybody important. Nobody listened.
He was on some online chatrooms with his ideas, but no one took him serious back then.
Damn she was fine!
Bernard Bernake and allan greenpan (both jews)
Whos fanny and freddy
Dean Turner Fannie Mae & Freddie Mac. Wikipedia, Google...Your turn.
That fake eyeball though
In the land of the blind, the one eyed man is king.
👍👍
This man is apart of the system .... He is not that smart if he is talking like the USA government has any say in the financial matters of this country
his eyeballs are all over the place...which one is fake
his left on
@skazhiprivet - one of many feedback loops - though the individual works without the knowledge that the lending industry has with appraisers, agents, and brokers all in on the scam. But I get your point that these scam artists are all operating "legally" within a system that they justify by it's very (questionable) legality. I still feel the institutions should have far more responsibility and that individuals are relatively blameless - the parasitic nature of biz counts on human weakness.
Don't look into his glass eye, you'll turn to stone.
10 years later and what he is saying is the perfect description of the trump administration
Namely your own involvement in it
And here we are now in 2022 he's calling it again and everyone's not believing the hopeful will burn this time
Oh please lol everyone believes him.... Fake AF Cassandra 🤣