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The Big Short: Inside the Doomsday Machine Kindle Edition

4.6 out of 5 stars 245 customer reviews

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Length: 285 pages Word Wise: Enabled Enhanced Typesetting: Enabled
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Review

It's time to throw another tank of petrol on the Wall Street pyre, as only Lewis can (Financial Times)

He is so good everyone else may as well pack up (Evening Standard)

No one writes with more narrative panache about money and finance than Mr. Lewis (Michiko Kakutani New York Times)

Probably the single best piece of financial journalism ever written (Reuters)

Hugely entertaining (Economist)

Terrifying and superbly told (Daily Telegraph)

Genius (Sunday Times)

Compelling and horrifying (GQ)

A more than worthy successor to Liar's Poker ... if you want to know about the origins of the credit crunch, and the extraordinary cast of misfits, visionaries and chancers who made money from the crash, there's no more readable account (Daily Telegraph)

A triumph ... riveting ... a genuine page-turner (Times)

The very best book about this whole affair (John Lanchester, author of 'Whoops!')

If you read only one book about the causes of the recent financial crisis, let it be Michael Lewis's The Big Short (Washington Post)

In the hands of Michael Lewis, anything is possible ... if you want to know how a nation lost its financial mind - and have a good laugh finding out - this is the book to read. (The Sunday Times)

Magnificent ... a perfect storm of brilliant writer meeting big subject. (The Guardian)

About the Author

Michael Lewis was born in New Orleans and educated at Princeton University and the London School of Economics. He has written several books including the New York Times bestsellers Liar's Poker, widely considered the book that defined Wall Street during the 1980s, The Big Short, 'probably the single best piece of financial journalism ever written' (Reuters), the breakneck tour of Europe's post-crunch economy, Boomerang, and the bestselling exposé of high-speed financial scams, Flash Boys. Lewis is contributing writer for The New York Times Magazine and writes for Vanity Fair and Portfolio magazine.

Product details

  • Format: Kindle Edition
  • File Size: 1066 KB
  • Print Length: 285 pages
  • Page Numbers Source ISBN: 0141043539
  • Publisher: Penguin (27 Jan. 2011)
  • Sold by: Amazon Media EU S.à r.l.
  • Language: English
  • ASIN: B004JXXKWY
  • Text-to-Speech: Enabled
  • X-Ray:
  • Word Wise: Enabled
  • Enhanced Typesetting: Enabled
  • Average Customer Review: 4.6 out of 5 stars 245 customer reviews
  • Amazon Bestsellers Rank: #366 Paid in Kindle Store (See Top 100 Paid in Kindle Store)
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Customer Reviews

Top Customer Reviews

Format: Hardcover Verified Purchase
The book's salient points appear on the bottom half of p.243 "...how Wall Street investment banks somehow conned the rating agencies into blessing piles of crappy loans;how this had enabled the lending of trillions of dollars to ordinary Americans;how ordinary Americans had happily complied and told the lies they needed to tell to obtain the loans;how the machinery that turned the loans into supposedly riskless securities was so complicated that investors had ceased to evaluate the risks;how the problem had grown so big that the end was bound to be cataclysmic and have big social and political consequences..."

The elements that comprise the book excellence are:the first class intellect of the author matching the quality of the Institutions he was educated namely Princeton University and the London School of Economics;his charisma in writing concisely, lucidly and impressively wittily, and the fact that he is imbued with morality;the story is not presented in the abstract but through brilliant albeit eccentric protagonists - all betting and winning against the market - such as Steve Eisman graduating from the University of Pennsylvania magna cum laude,and then with honours from Harvard Law School and Dr Michael Burry who abandoned neurology studies at Stanford to immerse himself in the world of finance.
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Format: Hardcover Verified Purchase
A well written, thoroughly researched insight into the relatively small band of individuals that predicted that the house mortgage market would implode. To these investors and speculators who chose to take, not much more than a cursory glance at the underlying assets of the glut of 'mortgage bonds' marketed by Wall Street institutions, it was blindingly obvious that many contained extremely high levels of 'guaranteed to default' sub-prime borrowers. They were further amazed when they were offered by Blue Chip universally known companies who in many cases had put the bonds together and sold them to their clients, insurance cover at very low cost, to pay out vast sums of money as and when the bonds failed. And guess what?........you didn't even have to own one of these toxic pieces of financial crud....just pay the premium and pick-up the loot! These policies known as Credit Default Swaps (CDS) are what the author refers to as 'The Big Short'.

Many of the beneficiaries were constrained in making even more money by restricting the CDS's they bought because of the fear that making a killing cannot be this easy and 'we must have missed something'. They hadn't, it was a fast route to vast riches.

Those who put together these Mortgage Bonds and those who traded in them, blindly ignoring the irresponsible dishing out of mortgages to all and sundry and the collapse in the value of properties were either blinded with greed or certifiably stupid.

A really good book, interesting, informative but at the same time quite shocking.
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Format: Kindle Edition Verified Purchase
Very well written, since I am not exactly trained in the art of financial deception. This book lays it on the line very nicely. The more 'honest' brokers who play with our money and beat the big shots at their own game. It's not exactly Robin Hood but there's an irony in that the key players who played poker with the real thieves within the banking world come over as modern day heroes. It just goes to prove just how corrupt the whole system in Wall Street really is.

If you want to learn how it all came to the biggest crash in economic history since the 1930's and you don't have a Phd in mathematics then this is a great option. This is all explained in very straightforward terms. The headlong crash of the sub prime mortgage rip off looks as inevitable here as watching a tsunami heading towards your patio windows, yet those with blind greed in their eyes just kept on rolling the dice.

And still the Governments and banking chiefs look the other way.

It makes you wonder how do they sleep at night.
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Format: Hardcover Verified Purchase
Michael Lewis is one of the most gifted and entertaining writers today - anyone who has read his reputation-forming Liar's Poker will know this (if you haven't, and you aspire to a career in finance, you should), but his subsequent offerings, particularly the singularly brilliant Moneyball have also been outstanding. He distinguishes himself from his peers firstly by his thorough insider's understanding of how, when and why finance works (and by extension how, when and why it doesn't) but also a deft turn of phrase and devastating wit. When the subject is the logic-defying but leaden topic of tranched portfolio credit derivative armageddon, both attributes are in good demand. And both, in the shape of Lewis' airy but insightful writing, are in abundant supply.

The rosette for "best book about the financial meltdown" is hotly contested - luminaries such as George Soros, Mohamed El-Erian and Hank Paulson have entered more or less weighty tomes (some excellent, some portentous, some a bit wacky); as have well-respected and deeply learned journalists like the NY Times'
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