January 10, 2016

The Big Short : Review

The Big Short: Inside the Doomsday MachineThe Big Short: Inside the Doomsday Machine by Michael Lewis
My rating: 4 of 5 stars

I have read his Liar's poker earlier, which though I liked, I struggled a lit bit in understanding the financial terms. It was a difficult read. I think he might have taken similar feedback from others for this book since in this, he tries to explain as much as possible in layman's terms, all that you need to understand.

That aside, the book itself is fairly engaging. In fact, I read 90% of the book in a single sitting which I don't remember when I last did. The book draws you a neat picture of what exactly happened that led to the biggest recession in recent times and he was openly critical of all the big investment banks and brokerage firms. I was surprised he could get away with all that straight forward hate against the big guys but I don't think they can sue him since it is true anyway! I have watched a famous documentary(don't remember the name) couple of years back that explains the same real estate bubble but I think this book has much more explanation that was missing in the documentary.

In the end, you feel bad for the normal public in US who are the ones that ultimately got screwed due to these Wall Street guys and the US Government. And the sad thing is, all the real players in the Doomsday Machine, got away with it..


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