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I've edited my comment to make it clear that by "The Big Short" I had understood that we were discussing the movie of that name. It's probably safe to say that
by theoh 10y ago
I've edited my comment to make it clear that by "The Big Short" I had understood that we were discussing the movie of that name.
It's probably safe to say that the editors/director of the movie knew what they were doing when they omitted any explanation of the possible side-pocket situation. The overall impression given is in keeping with the passages you've quoted.
- tanderson92 10y agoNo, the movie also includes it (though the specific words "side pocket" are not mentioned, it is clear that it was a legal option available to the fund manager). It's directly in the text of the e-mail that Burry types out to his investors. From the screenplay text[1]: > Mike types an email. He is alone in the office with empty desks outside. > "As you may know, our agreement allows me to take extraordinary measures when markets aren't functioning properly. I currently have reason to believe the mortgage bond market is fraudulent. So in order to protect investors from this fraudulent market I've decided to restrict investors’ withdrawals until further notice. Sincerely. Dr. Michael Burry." > Mike breathes deep, and hits SEND. [1]: http://www.paramountguilds.com/pdf/the-big-short.pdf http://www.paramountguilds.com/pdf/the-big-short.pdf