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> it can remain illogical longer than you remain solvent I don't know the details in real life, but in the movie he was mildly early and losing money for a lon
by tjrgergw 3y ago
> it can remain illogical longer than you remain solvent
I don't know the details in real life, but in the movie he was mildly early and losing money for a long time before the move started realizing. I and heard rumors that there were other players that were even earlier and had to close their positions before it realized in order to avoid going bankrupt.
BRB buying the book.
- seanhunter 3y agoThe book is not accurate and in particular most of the traders fought the decision to put the short on and then took credit for it afterwards. I really don’t want to say anything further. Source: I was there (working as a strat for Goldman in mortgages during the crisis).
- kingkongjaffa 3y agoWho fought to put it on then?
- seanhunter 3y agoThe people concerned haven't fought to put themselves in the spotlight so I'm assuming they would prefer to remain in the background. On that basis I'm not going to out them.
- dragontamer 3y agoThe movie was outright wrong in some other details that seemed to contradict congressional testimony / public knowledge of 2008 as well. Movie was a movie. It bothers me that the attention span of Americans is so short that they can't be bothered to look up the known and public facts of 2008 before making opinions on it.
- ionwake 3y agoThanks for the comment I always suspect things like this occur often
- YeBanKo 3y agoSnob comment claiming an inside knowledge and yet refusing to provide any pointers or logical conclusion chains.
- seanhunter 3y agoYeah a valid criticism and I apologise. All I would say is read the book/see the movie and enjoy it as a fun experience but don't necessarily take it as historical fact and in particular I wouldn't put any money behind anything just because Michael Burry has done it (as in TFA).