Movie "The Big Short"

[Recyclersteve]

Just saw the movie "The Big Short" a few days ago. It stars Steve Carell, Brad Pitt, etc. and is based on the book by Michael Lewis.

I thought the topic was an important one, but the movie was not that entertaining. Also, they presented things like CDO's (Collateralized Debt Obligations) and CMO's (Collateralized Mortgage Obligations) in such a way that many probably walked out with their heads spinning a bit. Nonetheless, if their main point was to present Wall Street as a group of unethical and naive people who can be outfoxed by others of more modest means, then they scored big-time.

One other point they missed- they assigned blame to Congress and financial institutions for all the bad (NINJA- no income- no job or assets) loans that were issued in the years leading up to 2008. Shouldn't some of the blame have been assigned to those applying for the loans and lying on their applications???

I also saw the movie Moneyball (which also starred Brad Pitt and is based on another book by Michael Lewis) and that movie was MUCH better.

There are lots of Wall Street movies which are much better than "The Big Short", in my own humble opinion. For instance, Boiler Room and Wall Street (the original one with Michael Douglas and Charlie Sheen) were both much better. For documentaries- the movie Inside Job (narrated by Matt Damon) is OUTSTANDING!

[beauanderos]

thanks for the review. Haven't seen it yet, but I'll place it on my Red Box radar.

[Tourney64]

Thanks for the review Steve.

[TXBullion]

I loved the book. Forgot it was going to be a movie. Really need to see this one.

Saw daddy's home and that was funny

[agmoose]

I took the wife and son to see it, and they actually liked how the explanations of terms like CDO were done. They are not economics geeks, and really enjoyed it. They had a lot of questions afterward, so it was fun to have some new conversations and discuss our mutual disgust with Congressional bailouts and big banks.

[neilgin1]

Films are wonderful, they have figured prominently in my old life, but at a stage, I tired of that business, because I realized how easy it is to play fast and loose with the truth, especially in the story of Dr. Michael Burry. (haven't seen the film)

but what I did find the other day, are two clips of him speaking, the first is the 2012 Commencement speech at the UCLA econ school graduation, its 21 minutes long, and it contains a whole LOT of wisdom. I know that's a long clip, but I urge you all to listen to the REAL Michael Burry, rather than the world as seen thru the polluted lenses of "Hollywood". The second clip is 3 minutes long, from 2010, where a financial reporter asks Michael what he's investing in now, now being 2010.....and notice how the reporter just doesn't GET what Michael's saying, and blows by it.

I hope these clips encourage you all, because by the act of stacking, everyone here is doing what Dr. Burry did, which is follow your own counsel, rather than joining the long dreary line of "conventional wisdom", which is no wisdom at all, just the folly of the lazy and timid.

[68Camaro]

Bottom line, physical not paper, and wise physical at that...

[silverflake]

I watched these videos (thanks neil, good stuff as usual) and have seen many others on Michael Burry and read lots of stuff on him. The thing that drives me nuts is that, anything about him that is presented by the mainstream media always asks (and I paraphrase) "how did he know and no one else knew?" This is so narrow minded. I am a nobody on the face of this Earth and have no finance degrees and do not work in economics or finance but I saw it coming! The folks I read saw it coming (Porter Stansberry, Bill Bonner, Richard Daughty...et.al.)....I bet a lot of the gang here on realcent saw it coming too. This is an example of that whole "normalcy bias" that we always hear about. And now it has affected the public as it pertains to everything else from debt to the dollar to the precious metals (see CopperCatchers post of this video www.youtube.com/watch?v=qnZHMmCjpQ8#t=147 in the thread Gold:The Unsurance Policy - Love It Or Loathe It). The sheeple will be undone by how oblivious they are to what is staring them in the face. Sorry to be so cynical but, I am now old enough (47) to understand what is meant by the saying "Those who don't learn from history are doomed to repeat it". I have a feeling we could scream it all from a mountain top and no one would listen. Kind of makes me ache a little inside.

OK, point here is: it seems like most on this site have the vision to see beyond what is presented to them by the media. We have lifted the veil to see whats behind it and it ain't pretty and so we are preparing the best that we can. At what point do we (or more to the point, I) stop wasting my energy telling family and friend the 'facts'? Guys, they DO NOT LISTEN. Growing tired and weary but I am thankful for this site. At least I know there are some rational folks in this world.

Stack until it hurts.

[johnbrickner]

Neil: Thank you Sir! I was unaware of what a great mind he has. Adding him to my list of learn more. I may see the movie once my local library has it. Make it mandatory viewing for my children.

Regarding the general public, why I work with young people, their minds are still flexible. Unfortunately, many will turn out like their parents.

I sew the seeds of awareness everywhere, everyday, among them. To me it seems very similar to the biblical parable. Not everyone can be saved. Many will be undone. I share it when it's a teachable moment and that's it. If they don't figure out a lifeboat strategy . . . oh well. Some will though and you never know who it's going to be. I hope it's many of the ones I enjoy being around. Like most all of you. I am grateful.

Stack 'till it ~feels good~

[beauanderos]

http://www.bloombergview.com/articles/2016-01-06/the-big-short-gets-the-financial-crisis-right