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- เผยแพร่เมื่อ 7 ก.พ. 2025
- The 2008 housing bubble and subsequent global financial crisis, crushed stock markets globally by over 50%. However, one man by the name of Michael Burry (Scion Capital) saw it coming for years and was able to profit over $100M from the event. So how did this small time investor see it coming? How did he bet against the American economy and win?
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YES! please do a commentary of 'The Big Short'
Yes for sure :)
The content has increased exponentially in quality recently. Loving it!
That would be great! Pls do. And Ty
I'd like to see that ;)
For the first time ever, I understood about 70% of the financial crises. Thanks for your work.
They in control, don't want you to 'understand,' otherwise we'd never had the financial crisis!
Bru, me and both
Mee too
Very helpful in understanding more..
Lol! Accurate ^_^
This was the first piece of media that ever actually properly explained the housing market crash in a very well structured and easy enough to follow video. Thank you so much
Thanks! I appreciate that!
well, the big short is the first piece of media that did that.
It’s just that you’re slow to understand
@@X11CHASE Yea and your quick to judge!!
@@NewMoneyTH-cam exactly my thought. thanks mate
I never get emotional during movies but this movie tugged at my heart strings. I was just entering the job market in 08/09 and remember how insane the crash was. I love how NO ONE was held responsible and they’re just continuing their shady market practices today.
Capitalism for you. They will always do what’s best for them
Absolute greed destroys everything
@@themistro9231 that's Cronyism.
@@themistro9231
Jesus...Capitalism has nothing to do with this.
Crooked politicians, greedy banks and shady political donors is where you need to look.
They all benefit from capitalism together with the rich elite and thats why they want to keep capitalism as the economic system even though the economy crashes every few years and only 1% benefits from any profits made.
Back in the day, when I purchased my first home to live-in; that was Miami in the early 1990s, first mortgages with rates of 8 to 9% and 9% to 10% were typical. People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Pretty sure I'm not alone in my chain of thoughts.
If anything, it'll get worse. Very soon, affordable housing will no longer be affordable. So anything anyone want to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.
That's awesome! Diversifying your 350K portfolio with the help of an investment coach has really paid off. Making over $730k in net profit from high dividend yield stocks, ETFs, and bonds is quite impressive. Your investment strategy seems to be working wonders for you!
I will be happy getting assistance and glad to get the help of one, but just how can one spot a reputable one?
When ‘Carol Vivian Constable’ is trading, there's no nonsense and no excuses. She wins the trade and you win. Take the loss, I promise she'll take one with you.
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
I have 35% of my capital investments in an IRA, 25% in index funds, and the balance spread across other investment accts totaling over $250k. I took a big hit in Q2, 2023. Right now i am just looking for ways to recover in 2024 and pay off my mortgage before another economic crisis rolls around.
There are a lot of strategies to make tongue-wetting profit especially in this down market, but such sophisticated trades can only be carried out by proper market experts
I agree with you 100%. I started out with investing on my own, but I lost a lot of money. I was able to pull out about $200k after the 2020 crash. I invested the money using an analyst, and in seven months, I raked in almost $673,000
I've been looking to get one, but have been kind of relaxed about it. Could you recommend your manager? I'll be happy to use some help.
Her name is “Sharon Lee Peoples” can't divulge much. Most likely, the internet should have her basic info, you can research if you like
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
Thank You. This is the first ‘big short explained’ video where I wasn’t looking for an additional ‘now explain this video’ video.
Awesome!
Me too.
Its an fancy way of saying that you shouldn't give loans to ppl that don't have money lol. Which is at its core what happened in the early 2000s. But the whole picture is important to understand.
Thank you @Shubham Garg ! I feel the same way, but I’d didn’t know how to phrase it. You did.
@@served23 now that's the comment I wanted to say.. but you phrased it for me
Also I think it's also worth a mention of how curupt the system is since the rating agency was paid to provide those triple AAA ratings for those bad loans.
Complete conflict of interest..
I'm hiring you (and paying 100s of thousands of dollars) for you to 'rate' me.
Maybe if I don't like the rating, I'll hire another firm next year.... 🤷🏻♂️
And the government subsidizing the risk through fannie mae and freddie mac rewards banks for being risky
That was the point! The ones in charge were paid off to give the reviews!
@@NicitoStaAna this point you made isn't talked about enough. There was something called the 'implicit guarantee'. It wasn't wrote down but it was assumed by not just the banks but consumers. That's why the 2008 crisis was so tricky because everyone lost faith in the market. On top of all the issues with defaulting mortgages.
@@dougconner95 The problem was plain and simple, the bond rating agencies were rating junk bonds as AAA. Anything else that happened was irrelevant.
This video should be made mandatory for every student within Australia to watch and understand.
We don’t seem to educate our children regarding the essential and vital fundamental of finance. Your video offers an extremely comprehendible version of one of the biggest financial disasters in our time. I really enjoy the research that you have made in order to produce this fantastic history of financial events.
The basic premise of capitalism is that, "greed is good" as long as you bet on the greedy getting richer and more deviant by starving the poor and forcing them into choices that would make a priest blush, you have won a sorry victory.
not only in Australia. Entire world should be teaching kids economics in high schools
I predict a housing crash due to people buying homes over asking price, lacking equity if prices decline further. Foreclosure becomes likely if they can't afford the house, and selling won't yield profits. With anticipated layoffs and rising living costs, many individuals may face this situation.
I suggest you offset your real estate and get into stocks, A recession as bad as it can be, provides good buying opportunities in the markets if you’re careful and it can also create volatility giving great short time buy and sell opportunities too.
You are right! I’ve diversified my portfolio across various market with the aid of an investment coach, I have been able to generate a little bit above $830k in net profit across high dividend yield stocks, ETF and bonds.
That's fascinating. How can I contact your Asset-coach as my portfolio is dwindling?
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Marisa Michelle Litwinsky for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
Interesting. I am on her site doing my due diligence. She seems proficient. I wrote her an email and scheduled a phone call.
_The Big Short is one of my favourite films!!_
It's such a good movie!
Same :) could watch it over and over
Just watched it again last night, what a terrific film
Never seen it, probably gonna watch it tonight
I watch it yearly, it's great.
You’re the second Australian I will listen to intently explaining MBS after Margot Robbie.
Yeah, but I'll still take Margot Robbie in a bubble bath.
When you think of subprime, think of shit.
But he's the hotest of the two
@@elsandro2702 yeah the real Burry just doesn’t sound the same as his Big Short depiction at all
Yes ... Everything looks so simple when Margot Robbie explains it ... (in the bathtub while drinking champagne)
"They call it the American dream because you have to be asleep to believe it"
George Carlin
The banks carefully positioned themselves behind the American people to service the account.
I call bullshit on that
@@anthonyhutchins2300 That was a famous sarcastic line from George Carlin. Open your mind to think what he was actually saying.
Love george Carlin and love that line
Now this is how you do explanation videos.
One of, if not, the best explanation to the Housing Market Crash of 2008 on TH-cam.
I started stacking to SAVE wealth. I've always been the type of person to spend my entire paycheck. I hate having money just sit in the bank. I am under pressure to grow my reserve of $950k. before I turn 60, I would appreciate any advice on potential investments.
Currently, my primary worry is how to increase revenue during periods of quantitative easing. I cannot afford to witness my savings dwindle away.
@@Veteran2002 - How do I Meet this Lady?>
@@Veteran2002 Thanks for the info, i found her website and sent a message hopefully she replies soon.
You should invest in stock market of developing countries like Nepal. They yield high return with low investment and risk.
Money market funds, short term debt investments usually have low risk since their maturity dates come sooner rather than later. Check them out !
Getting an ad for a sub-prime lender here in Canada while watching this video is another level of irony.
It's like when I watch Mgtow videos, against meaningless relationships, and these PUA (Pick Up Artist) Ads pop up.
Algorithms am I right?
Simplest explanation! I always struggled to get it. Thanks for that! Commenting on the Big short movie sounds like a good idea.
Thanks Thiago!
Same here.
@@NewMoneyTH-cam Kudos from down Under 👏
I literally watched 100s of explanation videos on youtube and never got the full picture about the crisis. But your video made it very clear and simple. Thank you mate. Good Job 👍🏻
No handwaving, no shorcuts, just a syep by step explanation of the process. Excellent work.
Big Short is soon becoming my second go-to movie. And I loved how you simplified the complex terms (because I feel the systems and operations were always pretty simple but just not exposed to the masses like me). This is the first time I've watched your video and straight up subscribed. I'm trying to understand a bit more about how money works (has been working and will work). Can you suggest videos/books/essays that I can read/watch to get beginner level knowledge. Then I can always come to your channel for a much detailed explanation :) Great stuff, man!
Michael Malony - Gold and silver (book)
Michael Lewis - The big short (book)
That's the english literature I know of.
Compared with the last three American channels which tried to explain this stuff, you did great! Fabulously simple explanations; ACTUAL speaking (without just loads of crazed graphics) & really clear sign posting. Thank you! Teach EVERYONE this because you're good at it.
I watched The Big Short 3 times recently, and wished I saw it earlier!!! What a fascinating and important movie that educates people on what really happened during the 2008 financial crisis.
Excellent and well put together. I'm studying about mortgages and you've helped me understand the 2008 housing bubble immensely, where other 'explained' videos just seemed too confusing to understand. Cheers
Thank you so much! I've been trying to understand the 2008 financial recession and I've watched nearly 10 videos and I was left with more questions than answers. Thank you for explaining this simply.
Interesting , the stock market is currently experiencing a decline while bond yields are on the rise. However, there seems to be skepticism amongst investors regarding the Federal Reserve's plan to continue increasing interest rates until inflation is stabilized. As for myself, I find myself at a crossroads, uncertain whether to liquidate my $250,000 stock portfolio. I'm seeking advice on the best strategy to capitalize on this current bear market.
Depends on your time horizon! ;)
It is gambling just like going to Vegas and just like Vegas the house and their odds are stacked against you.
Really clear explanation! I enjoyed the animations too, great work mate
Thanks Alex, I really appreciate it!
I've watched The Big Short many times. Thank you for putting this disastrous period into simplistic terms. And yes, I'd love to watch TBS along with your input.
it also wasn't just that these mortgage products existed. Predatory lending was out of control. A real estate agent nearly pulled my young family into it in 2006. We were 22 with 2 kids and a single income household. We didn't know anything about interest rates or big financial decisions at all. My husband somehow found himself talking to a real estate agent who got him all hyped up about buying our first home. Thank the gods for my father, who's reaction to the numbers was laughter. He saw how ridiculous it was and talked us out of it. Two years later, we watched our friends who had bought homes lose everything. If it wasn't for my dad, we would have lost everything, too.
This is the best video I’ve seen about the 2008 financial crisis. You did a very good job explaining everything
Big Short is the absolute no1 movie, every second, every character is so powerful, so detailed, unbelievable! Every word, every gesture has its own meaning.
TRULY THE BEST CHANNEL. OTHERS JUST KEEP TALKING ABOUT DIVERSIFICATION WITH NO CHARTS OR ACTUAL INFORMATION
Great video. I have to admit I was a little lost when I watched The Big Short. This really cleared it up. Thanks.
A summary timeline would be really helpful with the key events including the regulatory changes which allowed the new products & mortgages to come into being.
The roots of the housing crisis go all the way back to the Community Reinvestment Act of 1977. It wasn’t one thing that did this, it was a long chain wherein each step allowed the next step to happen. If you have to pick one piece it is the fact that the bond issuers had no responsibility for the bonds sold. If they had to keep a piece or insure performance they would have scrutinized the underlying loans.
Many knew in advance. My dad passed in 4/2008 and I inherited some money. I asked his Fidelity advisor about the market and he said, “We’re headed for a crash.” He was right.
I've watched this film a few times but only started to understand the crisis after this video. Cheers.
My friend, I have to give you a round of applause for this perfect explanation of mortgaged backed securities and the housing bubble that led to the Fall 2008 collapse. Your explanation with the visuals was perfect!
I had my one and only (fixed-rate) mortgage in the early 2000s. My mortgage situation was pretty stable (not a lot of debt and consistent payments), but I kept wondering why every month, I would get a letter from a bank saying that a new bank would be taking over the mortgage. My mortgage went through easily five or six different banks. They would tell me where to send the next payment.
thanks for the video!
For sure! I used to work for BNY and I would fill out a tax form called 8594. I would fill out tons of forms b/w 2000-2004. And it would be between a lot of mortgage companies as the parties buying and selling. I thought it was strange that as soon as a mortgage term started, it would be sold in the same year to another mortgage company or bank. I had no idea of the criminality taking place.
sounds like a shady sneaky way to get you to default on your loan. Because you sent the money to the wrong and now you're out of budget. And the next bank that now owns your loan is not getting their money and now you pay 3 times because of late payment and you already lost the money from paying the other bank that no longer has the deed to your house.
Pure fraud right there.
that's creepy as hell man, for one glad i don't live in USA xD
I bought mine in 2006. At that time I didn't even have to give a down payment even though I did to lower my mortgage. And I also noticed how all the realtors were so giddy about how easy it was to get loans for everybody. Half the realtors were former lawyers that now make more money. Lol
Funny thing, my mortgage and student loan has been doing the same the last 10-12mo haha I got lucky and have an interest rate at damn near 2% before it really worsened.
Curious if our next crash will happen in under 2 years.
I once knew a young real estate agent in his 20s that made do much money and was riding high. When the bubble burst he was hit hard and ending up hanging himself very shocking finding out.
Awwwwe dang :(
Thanks for explaining this. Never fully understood the housing bubble for years. But this video cleared up a lot.
Don't fully understand how shorting the market works at the end but good enough for me!
This was the best video I've ever seen explain such a complex situation/crisis so efficiently and layman-learning easy way. Kudos to you!
Subscribed🤝
Yes please do a Big Short commentary. Most of us really need it.
He's either an absolute mad lad or a freaking genius. Only time would have told and i guess it revealed him to be a freaking genius.
It’s more like he was able to break down a math problem.
His hair looks like Data's from star trek next generation lol
Nailed it
The Lego hair is definitely offputting
Dude is that a wig?
@@creedolala6918 lego hair lol
@@asheleydavies it is 110% a fucking wig, bro.
Easily the best explainer video of the financial crisis.
This is the best explanation of 2008 I've ever seen
As a millennial with no hope of being a home owner, it gives me comfort knowing I can still retire comfortably with renting + investments. Unless I win the lottery or inherit a couple hundred grand, I probably won't be going into the "American dream" real estate route.
Move to Mexico or some other country where your dollars have a huge exchange rate. I'm 23 years old and I'm already making plans for this move. Makes more financial sense for me as a Gen Z.
you might not be able to afford a large house but that doesn't mean you cant afford a house at all, its not the best of ideas to hinge retirement on renting because rent is one of those expenses that can be very unpredictable. i recommend looking into retiring in a small house in a fairly rural area (that doesn't mean the middle of nowhere just not in a city where land is at a premium) the mortgage payment on something like that is not going to be much higher then renting and you will end up not having a constant drain on your finances. its a common misnomer that the idea of home ownership is a big house in a suburb most of the houses that people lived in back then where very small and not all to close to anything major (other than something like a beach). this is assuming that you aren't doing your best atlas impression under I giant pile of student debt with a low value degree, if that is you I feel for you but cant really offer any advice other than live as cheaply as possible (like raman noodles 3 meals a day with multivitamins and a used 2010 prius cheaply) and get that payed down as fast as possible.
Outside of the largest cities in the US, housing is still quite affordable.
Buy one cheap and fix it up. Too easy.
@@SomeJustice19k
Yep.
Handyman special. Fixer-upper.
Sweat equity.
This video is excellent. As someone who worked in the savings and loan field in the 80's, I think it is important to note that mortgage-backed securities also provided risk reduction and liquidity for S&Ls. I think it would be a fantastic idea to comment on the Big Short (which I have seen now about 8 times) while it is in play.
Would enjoy big short commentary
Cheers !
Second that
Third that
Fourth that !!
fifth that
Sixth that
You have a special talent for explaining things in a way that's easily understandable. This is the first video that managed to helped me understand this issue :)
This is by far the best explanation of the 2008 crash I've ever seen. Thanks a lot!
Who's here after reddit is owning Wall Street short sellers? Lmao
holy hell its crazy and unatural
same
reporting for duty
Ya got me
TO THE FUCKING MOON!!!!!
And here in Australia we still live in this delusion that house prices can never significantly fall. Because the government is doing everything it can to keep the prices going up. Probably because they know if they fall to far the amount of risky debt in the system will bring everything with it
Whoa!
Damn. In Ireland our government banned landlords from increasing rent. So if the house prices go up, rent legally can’t. You’re not allowed to control the rent of your own property. It’s an insane policy to stop house and rent prices from increasing.
@@NegativeAccelerate That's a good thing, isnt it? In a way controlling the rent affects the prices of the house and mortgage loan. Investors will be reluctant to invest in mortgages since the yield is lower.
@@qwertymeinfuhrer Rent control is never a good thing. It will cause homelessness and a shortage of supply, or the rent control will only be applied to existing properties, meaning new properties will be built with much higher rents.
Hands down one of the best videos around the topic. Perfectly executed. Thanks.
I recently watched The Big Short again and was craving some content to explain the GFC in more detail. Your is the best video I found. By far. Thank you!
Phenomenal work again! You made this topic so easy to understand.
Subscribed!!
Brilliant. You simplified a complicated issue into manageable parts. Sadly, this was just catalyst for much much bigger systemic failures across other markets. Thanks!
People like Michael should run our economy
that was awesome. I loved the Big Short but a lot was over my head on the financial side at the time beyond the credit default aspect, and now, I GET IT!
The clarity of this presentation is breathtaking! I will Subscribe and encourage you to follow-up.
Yours is the best explanation of those events I have heard so far! Good job!
This might be the best explanation of the 2008 recession I've come across. Thank you!
This dude has a hairline of the gods
His hair makes me uncomfortable
😂😂
However, he seems a little insecure.
@@joseph3036 Maybe it's a wig? It's too perfect
@@tengamangapiu I thought so.
This is one of the best explanations I’ve seen of this complex situation. Great work!
This is the best explanation video for the GFC I've come across, well done!
This was explained so well. I think I need to take one of your investing classes! Well done!
Incredibly informative, well narrated and to the point. Thank you for you time in dissecting these interesting issues.
Growing up I thought the exorcist was the scariest movie I’d ever watch. I was way wrong. This movie and this guy because this happened....
70 saal Bina soche vote paon Da result
Yes! Do record the commentary of The Big Short. Thanks for this vid-- excellent!
Did you do the breakdown commentary of The Big Short? I love that movie and watch it almost weekly. The acting and the overall story is so good. great vid!
I'm not really into real estate but i really don't like the fact that most times the ends are small when compared to for example the stock and hedge funds. On my smallest investments i make about $4.5-$4.2 depending on the market a month.
Allow me to disagree i'm actually into both in investments although I've been in the real estate for a while now, but I would have guessed it's more lucrative when placed with wall Street investments.You pay capital gains and cant leverage money as in real estate. Re is a better option...not every year will grow 20%
I think both investments are profitable, it all depends on your approach and how much you're willing to begin the investment
I plan to use this video as a demonstration of exemplary video design in one of my Communications courses. The writing, narration and graphic elements are complementary and well-paced. Great job!
Yes! Let’s watch the BIG short.
Yes! :D
I'm in
And Margin Call as well.
Yes… this explained the crisis better than anything I’ve ever heard. Thank you.
I just found out this video. The way you are explaining everything is really amazing. As someone who understands nothing about these dynamics, I could say that now I have for sure learned something new. I wish all the videos out there would be as good as yours. I never followed your channel, I did not know who you were or are, but definitely, if I'm in the mood of learning, I would definitely come to your channel. Thanks youtube and the "social media dilemma" for proposing this content out of nowhere. And of course, again thank you for making my day.
Great stuff Brandon! Very in depth and frankly very disturbing the lengths that Wall Street will go to for profits even if the writing is on the wall that the risk is out of control and it’s a total house of cards.
Yeah it's a crazy case study! Thanks for watching Mark!
wall street? how about the government that created that environment? or all the people buying houses on unemployement? why are only the banks at fault here but not the precious government and the imbecile tax payer?
I learned that the stock market was a rich man's game (yes, grandparents lost it all back then and preached that forever) but I've been around long enough to really taste how great it can be. To be profitable, with inflation at 6.1% These are surely desperate times, but in my opinion, there is no market condition that a good financial advisor cannot navigate, especially those that have existed since the crisis of 2008 and before.
Bruh I work at a design firm and it's never been this busy. Never ending new homes being built and old homes flipped. I give it a year until it all crashes. Scary stuff
Absolutely. Prices are going up similar to how it was back then. People are taking money out of their 401ks (with the no penalty thing) and dumping it into houses that aren't worth it. People are bidding on houses that go in the market the same day. It's absolute madness.
Gonna bookmark this comment incase anything happens
@@kavinski9093 well all have our ways 🙃🙃🙃
A ton of stimulation went out last year, I'm guessing a whole lot went to new construction/job creation. New home construction has always been a major gauge to check the health of the economy.The 401k "no-penalty" thing makes the situation where the last major wealth of the middle class is being funneled into housing. Danger territory. When the middle class is decimated, (they make a massive amount of jobs possible) their businesses will close and jobs will be lost. And of course the people who had a job, bought a house, then lost their job...homes will go back on the market fast too. Welcome to a 3rd world country...USA
Welcome to a terrible version of Socialism/Fascism/Communism
This was one of the best videos I've come across regarding the 2008 crash. Beautifully done!
Michael's brain has a speed most of us can't comprehend. If he seems awkward in his linguistics, it's because he's having difficulty trying to explain to us in a manner that we can comprehend. The world needs more people like him. 👍 👍
I have seen The Big Short twice, its an amazing movie. Thank you so much for this brilliant explanation that took me to the very details of what was really going on.
Excellent summation of the facts and circumstances of that housing bubble and bust. Also very entertaining as well as clear. However, the one thing missing is how much Scion Capital had to pay out in premiums before the collapse began full force. All of the people taking short positions in famous bubbles of the past, such as the technology bubble in the late 1990s as well as the housing bubble, were necessarily losing money while the bubbles were still happening. The picture "The Big Short" raises this issue and makes it an important element of the suspense, even though we know the ending. (That's the thing about well crafted suspense in drama. It doesn't matter that we know the ending. It's how the story is crafted that makes it suspenseful.) So how much did Scion initially have to pay out (which were effectively losses), before the profits started to kick in, and for how long?
Yes we need this kind of video while watching the Big Short 😅
You guys should do a vídeo toghether
@@codehere142 Now that's an idea!
@@MapAtlass go talk with Brandon bro or Tom
@@codehere142 Yeah I'll give them a call.
This has been the most easy to understand explanation of how burry shorted the market for a person who doesn’t understand the market .. thank you!
Great to hear! Glad it helped :)
First youtuber ever i actually pressed the like button for when you mentioned it. Love your channel!
That was a risky bet to go against the American Dream. I watched the movie and it was great too. Thanks for the insights!
I feel like you should have spent a little more time explaining the credit default swap. Im still a little fuzzy on what the perceived benefit is for buyer or seller
A swap is a security the lender buys in case of default from the loanee.
But you could buy this security even if you were not a lender.
It's basically a bet that the borrower will not pay the bondholder. The bondholder uses it like an insurance policy, pay a very small premium but receive a large payout if it happens. The difference between it and more familiar insurance products is that parties not involved in the original deal can buy them. Imagine if you could buy auto insurance on the teenage kid down the street that drives fast and talks on a cell phone constantly but premiums are only $20 for a $2000 payout. You could buy a policy on every new driver in the neighborhood and if only 10% got in a wreck you would make huge profits.
@@Adiscretefirm But in the movie, burry never got 1.3B payment. That would mean I pay $20 premium for 3 yrs, but don't get $2000 payout, right? Can you explain why was that? Also, do I get interest back as well?
@@kirathekillernote2173 remember at the end when he changed the numbers on the whiteboard that showed Scion Funds worth? Or when he sent the email to the guy that was suing him telling him "you're welcome" and that the funds had been deposited? The money was from the credit default swaps.
Its so interesting how many convoluted layers of abstraction their are in the financial industry. Its like an episode of Yu-Gi-Oh...
That was a great explanation NM and to this day, "The Big Short" is still one my favorite movies to watch.
This video is fantastic.... Very easy to understand...... I'm going to go and watch The Big Short now for the 1000th time, and this time I will understand it
Michael Burry is an inspiration. Not because he made millions but because he proves that you don't have to be attractive or well-spoken to be a success.
I found this really interesting. Happy to watch more of these types of videos in future.
As George Carlin said - the reason they call it the American dream is you'd have to be asleep to believe it.
Man you earned a subscriber... Tried so many explanations but this one was best of them all... Thanks 😄
Fascinating and clear breakdown, thanks so much for this enlightening video. It’s insane that we setup this ticking time-bomb and almost no one saw the collapse coming
Can't believe people thought granting mortgages that require zero repayment was a good idea
Very well done, Brandon and thank you. One of my favourite movies and it's unreal how these unethical greedy people were allowed to think all these schemes up with support from the so-called regulators and the government. Sad indictment of how our need to make money and obsession with doing so at any cost for some people, can bankrupt their morals, ethics and decency and wreck other people's lives, and often their own.
Those regulators and the government were controlled by the very people they were supposed to regulate. This made possible by the bribes funded by the outrageous tax cuts of the Reagan era where he not only lied under oath, threw a good Marine under the bus, committed fraud against the American people by selling them a higher takeout to fund a supposed fully funded retirement (then used that fund for a slush fund for the government) but he gave them well over a 50% tax cut and nobody could spend all the money they had.
That is UNTIL they met the unfillable pockets of the people in the US government.
Those bribes changed any law into a new way to defraud the people by anyone that would pay.
3:00 "from all of us plebs paying our mortgages" 😂
Estife nhi de rhe leaders modi nu harami h sab randikhana bnana h modi ne Hindustan ko
Excellent video. I've watch Big Short a number of times and never understood all that happened as well as I do now.
Yes, definitely do the commentary with the big short thing. Thanks for posting
My sainted mother kept me from getting a "graduated payment mortgage" ... arguably worse than an ARM (adjustable rate mortgage). My mother was a real estate broker with her own office in 1985-1986 when I bought my first home.
There was a beautiful beach condo that I couldn't have bought with a normal loan but could have taken a negative amortization rate mortgage and accrued more principal as the teaser rate became a normal, higher rate. Instead I bought a sensible yuppie condo, did okay, might have done okay with the beach condo. All water under the bridge.
Bottom line #1? I am risk-averse to this day because of a conversation outside a hotel along the beaches of Ocean View, Norfolk. Not disappointed at all.
Bottom line #2? Is the market overheated, once again going to implode?