This is a Summary of Michael Lewis’ The Big Short: Inside the Doomsday Machine. The real story of the crash began in bizarre feeder markets in the bond and real estate derivative markets where geeks invent impenetrable securities to profit from the misery of lower and middle class Americans who can't pay their debts. This summary is aimed for those who don't have the time to devour all 291 pages. More
This is a Summary of Michael Lewis’ The Big Short: Inside the Doomsday Machine
The real story of the crash began in bizarre feeder markets where the sun doesn't shine and the SEC doesn't dare, or bother, to tread: the bond and real estate derivative markets where geeks invent impenetrable securities to profit from the misery of lower--and middle--class Americans who can't pay their debts. The smart people who understood what was or might be happening were paralyzed by hope and fear; in any case, they weren't talking.
Michael Lewis creates a fresh, character-driven narrative brimming with indignation and dark humor, a fitting sequel to his #1 bestseller Liar's Poker (also available in Summary format). Out of a handful of unlikely--really unlikely--heroes, Lewis fashions a story as compelling and unusual as any of his earlier bestsellers, proving yet again that he is the finest and funniest chronicler of our time.
The #1 New York Times bestseller: "It is the work of our greatest financial journalist, at the top of his game. And it's essential reading."—Graydon Carter, Vanity Fair
Available in a variety of formats, this summary is aimed for those who want to capture the gist of the book but don't have the current time to devour all 291 pages. You get the main summary along with all of the benefits and lessons the actual book has to offer. This summary is not intended to be used without reference to the original book.
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