the big short inside the doomsday machine

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The Big Short Inside The Doomsday Machine Movie Tie In

Author : Michael Lewis
ISBN : 9780393353167
Genre : Business & Economics
File Size : 52. 68 MB
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The #1 New York Times bestseller—Now a Major Motion Picture from Paramount Pictures From the author of The Blind Side and Moneyball, The Big Short tells the story of four outsiders in the world of high-finance who predict the credit and housing bubble collapse before anyone else. The film adaptation by Adam McKay (Anchorman I and II, The Other Guys) features Academy Award® winners Christian Bale, Brad Pitt, Melissa Leo and Marisa Tomei; Academy Award® nominees Steve Carell and Ryan Gosling. When the crash of the U.S. stock market became public knowledge in the fall of 2008, it was already old news. The real crash, the silent crash, had taken place over the previous year, in bizarre feeder markets where the sun doesn’t shine and the SEC doesn’t dare, or bother, to tread. Who understood the risk inherent in the assumption of ever-rising real estate prices, a risk compounded daily by the creation of those arcane, artificial securities loosely based on piles of doubtful mortgages? In this fitting sequel to Liar’s Poker, Michael Lewis answers that question in a narrative brimming with indignation and dark humor.

Summary And Analysis Of The Big Short Inside The Doomsday Machine

Author : Worth Books
ISBN : 9781504044295
Genre : Business & Economics
File Size : 40. 65 MB
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So much to read, so little time? This brief overview of The Big Short tells you what you need to know—before or after you read Michael Lewis’s book. Crafted and edited with care, Worth Books set the standard for quality and give you the tools you need to be a well-informed reader. This short summary and analysis of The Big Short by Michael Lewis includes: Historical context Chapter-by-chapter overviews Character profiles Detailed timeline of events Important quotes Fascinating trivia Glossary of terms Supporting material to enhance your understanding of the original work About The Big Short by Michael Lewis: The writing was on the wall long before the extent of America’s worst financial meltdown since the Great Depression was made public. The mortgage bond market had become burdened with subprime loans, most of which were deceitful in their origination and ultimately resulted in delinquencies and foreclosures. Michael Lewis’s The Big Short: Inside the Doomsday Machine takes the reader behind the scenes, introducing the players and Wall Street institutions that unscrupulously helped fuel the housing bubble as well as the few who, not only foresaw the crash, but placed bets on the outcome. The summary and analysis in this ebook are intended to complement your reading experience and bring you closer to a great work of nonfiction.

The Big Short By Michael Lewis A 15 Minute Instaread Summery

Author : Instaread Summaries
ISBN :
Genre : Political Science
File Size : 70. 34 MB
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PLEASE NOTE: This is a summary of the book and NOT the original book. The Big Short by Michael Lewis - A 15-minute Instaread Summery Inside this Instaread Summary: • Overview of the entire book • Introduction to the important people in the book • Summary and analysis of all the chapters in the book • Key Takeaways of the book • A Reader's Perspective Preview of this summary: Chapter 1 In December of 1991, Steve Eisman was working for Oppenheimer and Co. as an analyst and became known for his knack for ignoring consensus, an analysis of a stock’s future sales and earnings. In the early 1990s, the Salomon Brothers trading floor began a whole new bond market by packaging mortgages into bonds. In this way, they began to tap the unused equity many people had in their homes, driving the interest rates of mortgages so low that even those with less than perfect credit could get low rates. This led to a surge in subprime mortgages, mortgages offered to those with poor credit ratings. Subprime mortgages were then packaged into bonds and sold to investors. Eisman hired accountant Vincent Daniel to help him decipher the suspicious accounting used by subprime mortgage originators. Daniel discovered companies were booking profits for expected future values of loans, and prematurely displaying themselves as profitable. However, they were failing to reveal the delinquency rate of the home loans they were making, claiming that they were selling these loans to be packaged as bonds, so their risk was limited. An example of this was Long Beach Savings, one of the first banks to implement what was called the originate and sell method, a method of originating a loan that was likely to be defaulted on and sell it to another lender, but leave it on the books to appear as profit...

Summary Of The Big Short

Author : Abookaday
ISBN : 1535283696
Genre :
File Size : 50. 8 MB
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Warning This is an independent addition to The Big Short, meant to enhance your experience of the original book. If you have not yet bought the original copy, make sure to purchase it before buying this unofficial summary from aBookaDay. OVERVIEW This review of The Big Short: Inside the Doomsday Machine by Michael Lewis provides a chapter by chapter detailed summary followed by an analysis and critique of the strengths and weaknesses of the book. The main theme explored in the book is how corruption and greed in Wall Street caused the crash of the subprime mortgage market in 2008. Despite being completely preventable, the big firms in Wall Street chose to ignore the oncoming fall in favor of making money. Michael Lewis introduces characters-men outside of the Wall Street machine-who foresaw the crisis and, through several different techniques, were able to predict how and when the market would fall. Lewis portrays these men-Steve Eisman, Mike Burry, Charlie Ledley, and Jamie Mai-as the underdogs, who were able to understand and act upon the obvious weaknesses in the subprime market. Lewis's overall point is to demonstrate how the Wall Street firms were manipulating the market. They used loans to cash in on the desperation of middle-to-lower class Americans, and then ultimately relied on the government to bail them out when the loans were defaulted. Using anecdotes and interviews from the men who were involved first-hand, the author makes the case that Wall Street, and how they conducted business in regards to the subprime mortgage market, is truly corrupt beyond repair, and the men he profiles in this novel were trying to make the best out of a bad situation. By having the words from the sources themselves, this demonstrates Lewis's search for the truth behind what actually happened. Ultimately, we as an audience can not be sure if the intentions of these underdogs were truly good, but Lewis does an admirable job presenting as many sides to the story as possible. The central thesis of the work is that the subprime mortgage crisis was caused by Wall Street firms pushing fraudulent loans upon middle-to-lower class Americans that they would essentially not be able to afford. Several people outside of Wall Street were able to predict a crash in the market when these loans would be defaulted on, and bought insurance to bet against the market (essentially, buying short). Over a time period from roughly 2005-2008, the market crashed and huge banks and firms lost billions of dollars, filed for bankruptcy, or were bailed out by the government. These men, the characters of Lewis's novel, were able to bet against the loans and made huge amounts of money, but it was not quite an easy journey. Michael Lewis is a non-fiction author and financial journalist. He has written several novels-notably Liar's Poker in 1989, Moneyball in 2003, and The Blind Side in 2006. Born in New Orleans, he attended Princeton University, receiving a BA degree in Art History. After attending London School of Economics and receiving his masters there, he was hired by Salomon Brothers where he experienced much about what he wrote about in Liar's Poker. He is currently married, with three children and lives in Berkeley, California. SUMMARY PROLOGUE: POLTERGEIST Michael Lewis begins his tale of the remarkable-and strange-men who predicted the immense fall of the housing market by immediately exposing himself as the exact opposite type of person from them. He explains to the reader that he has no background in accounting, business, or money managing. Any success he has had with his previous book Liar's Poker, an account of his time working at Salomon Brothers in 1985, has been luck. That book had primarily been about the bond market and how that company, among many others Available on PC, Mac, smart phone, tablet or Kindle device. (c) 2015 All Rights

The Watchdog That Didn T Bark

Author : Dean Starkman
ISBN : 9780231536288
Genre : Business & Economics
File Size : 77. 76 MB
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In this sweeping, incisive post mortem, Dean Starkman exposes the critical shortcomings that softened coverage in the business press during the mortgage era and the years leading up to the financial collapse of 2008. He locates the roots of the problem in the origin of business news as a market messaging service for investors in the early twentieth century. This access-dependent strain of journalism was soon opposed by the grand, sweeping work of the muckrakers. Propelled by the innovations of Bernard Kilgore, the great postwar editor of the Wall Street Journal, these two genres merged when mainstream American news organizations institutionalized muckraking in the 1960s, creating a powerful guardian of the public interest. Yet as the mortgage era dawned, deep cultural and structural shifts—some unavoidable, some self-inflicted—eroded journalism's appetite for its role as watchdog. The result was a deafening silence about systemic corruption in the financial industry. Tragically, this silence grew only more profound as the mortgage madness reached its terrible apogee from 2004 through 2006. Starkman frames his analysis in a broad argument about journalism itself, dividing the profession into two competing approaches—access reporting and accountability reporting—which rely on entirely different sources and produce radically different representations of reality. As Starkman explains, access journalism came to dominate business reporting in the 1990s, a process he calls "CNBCization," and rather than examining risky, even corrupt, corporate behavior, mainstream reporters focused on profiling executives and informing investors. Starkman concludes with a critique of the digital-news ideology and corporate influence, which threaten to further undermine investigative reporting, and he shows how financial coverage, and journalism as a whole, can reclaim its bite.

You Me Everyone Else

Author : Bill Geringswald
ISBN : 9781613460733
Genre : Self-Help
File Size : 76. 78 MB
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A growing number of Americans seek change and redemption for our increasingly mad society, but who will lead the charge? This burden cannot be born by a single individual. It must be a passion shared by You, Me, and Everyone Else.Today we are caught up in a massive societal transition that goes far beyond traditional thinking. We face financial distress on Wall Street and Main Street, the middle-class is on the decline, and our public schools rank twenty-third among developed nations. We struggle to deal with escalating environmental disasters, political malfeasance, and terrorist plots. In so many ways, we resemble the Roman Empire, teetering on the brink of a similar downfall.In this challenging and inspiring work, Bill Geringswald provides a progressive overview of our society's intertwined cause and effect. His visionary proposal for remediation shows how we may all undergo a personal journey of enlightenment and addresses the many problems we now share in this world. Our mutual solutions will not be found in political answers, but only as we work together through our Higher Power.

The New Sell And Sell Short

Author : Alexander Elder
ISBN : 1118005570
Genre : Business & Economics
File Size : 63. 11 MB
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A detailed look at one of the most underestimated aspects of trading-selling In The New Sell and Sell Short, Second Edition, Dr. Alexander Elder explains how to exit a stock at the right time and how to initiate a short position to profit from a stock that is showing weakness. Often overlooked, selling properly enables a trader to cut losses and maximize profits. Moreover, short selling in a weak market can generate big profits and should be a part of every trader's arsenal of tools. The new edition contains numerous examples of short selling stocks from the 2008-2009 bear market, demonstrating very clearly why traders do themselves a disservice by only focusing on the long side. In addition, the new edition contains an extensive study guide to help readers master the material prior to trading. Elder shares real-world examples that show how to manage your positions by adjusting your exit points as a trade unfolds. Contains new examples and insights from the 2008-2009 market meltdown Includes an extensive study guide with 115 questions and answers and 17 chart studies Discusses the selling process from a variety of angles: technical, fundamental, and psychological Explains how to maximize winnings in a profitable trade and how to minimize losses when a trade doesn't go as planned Offers detailed guidance for traders of stocks, financial futures, commodities, and currencies Explains how to set profit targets and stop-loss orders prior to entering any trade Other bestselling titles by Elder: Trading for a Living, Come Into My Trading Room, and Entries and Exits Understanding where and when to sell is essential to successful trading. The New Sell and Sell Short, Second Edition is the definitive reference to this overlooked, but vitally important, aspect of trading.

The Escape Artists

Author : Noam Scheiber
ISBN : 9781439172421
Genre : Political Science
File Size : 66. 42 MB
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FACING THE WORST ECONOMY SINCE THE 1930S, PRESIDENT BARACK OBAMA HIRED A CRACK TEAM OF ESCAPE ARTISTS: financial wizards who had pulled off numerous white-knuckle getaways during the Clinton era and who were ready to do it all over again. Three years later, with the economy still in a rut, it’s clear that they fell far short. This is the inside story of what went wrong. The Escape Artists features previously undisclosed internal documents and extensive, original reporting from the highest levels of the administration. Star White House journalist Noam Scheiber reveals the mistakes and missed opportunities that kept the president’s pedigreed team from steering the economy in the right direction. He shows what responsibility the president bears for those missteps, what bold actions his brain trust refused to take despite its preternatural confidence, and how the White House was regularly outmaneuvered by Republicans in Congress. Tracking the administration’s efforts deep into the fall of 2011, The Escape Artists provides a gripping look inside the meeting rooms, in-boxes, and minds of the men who tried to manage the defining crisis of the Obama presidency: how the very qualities that made these men and women escape artists in the 1990s ultimately failed them. *** THREE YEARS INTO THE OBAMA PRESIDENCY, THE UNEMPLOYMENT RATE WAS PAINFULLY HIGH, THE GAP BETWEEN RICH AND POOR HAD WIDENED, AND THE STIMULUS HAD NOT DONE ENOUGH TO BRING JOBS BACK. WHAT WENT WRONG? A PRESIDENT WITH OTHER PRIORITIES . . . Barack Obama hadn’t run for president just so he could clean up someone else’s mess, however urgent the task. He’d run for president to usher in once-in-a-generation achievements like health care reform—“to change the trajectory of America.” Timothy Geithner remarked to President-elect Obama that “your signature accomplishment is going to be preventing a Great Depression.” Obama’s response was slightly jarring. “That’s not enough for me,” he said. It dawned on Geithner that he and his colleagues were a sideshow rather than the main attraction. “If you don’t do that, nothing else is possible,” Geithner protested. “Yeah,” Obama repeated, “but that’s not enough.” AN ECONOMIC TEAM RELUCTANT TO TAKE BOLD ACTION . . . David Axelrod was preparing Christina Romer, Obama’s chief economist, for a Sunday talk show. Many experts were voicing doubts about the size of the original package, and so Axelrod asked, “Was the stimulus big enough?” Without hesitating, Romer responded, “Abso-f---ing-lutely not.” She said it half-jokingly; Axelrod did not seem amused. AND A BRAIN TRUST THAT BELIEVED IT KNEW BETTER . . . It was the worst of all worlds for the Obama administration: a country that took one look at the languishing economy and another at the recovery on Wall Street and concluded that its government had put big banks ahead of ordinary people. Generously, the S&P officials didn’t point out any of this. Instead, the leader of the group confessed that the agency was mostly concerned about the prospects for bipartisan compromise. At this, Geithner became dismissive. His message was unmistakable: TRUST US, WE’VE DONE THIS BEFORE.

Blah Blah Blah

Author : Dan Roam
ISBN : 9781101558706
Genre : Business & Economics
File Size : 64. 71 MB
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Ever been to so many meetings that you couldn't get your work done? Ever fallen asleep during a bulletpoint presentation? Ever watched the news and ended up knowing less? Welcome to the land of Blah Blah Blah. The Problem: We talk so much that we don't think very well. Powerful as words are, we fool ourselves when we think our words alone can detect, describe, and defuse the multifaceted problems of today. They can't-and that's bad, because words have become our default thinking tool. The Solution: This book offers a way out of blah-blah-blah. It's called "Vivid Thinking." In Dan Roam's first acclaimed book, The Back of the Napkin, he taught readers how to solve problems and sell ideas by drawing simple pictures. Now he proves that Vivid Thinking is even more powerful. This technique combines our verbal and visual minds so that we can think and learn more quickly, teach and inspire our colleagues, and enjoy and share ideas in a whole new way. The Destination: No more blah-blah-blah. Through Vivid Thinking, we can make the most complicated subjects suddenly crystal clear. Whether trying to understand a Harvard Business School class, or what went down in the Conan versus Leno battle for late-night TV, or what Einstein thought about relativity, Vivid Thinking provides a way to clarify anything. Through dozens of guided examples, Roam proves that anyone can apply this systematic approach, from leftbrain types who hate to draw to right-brainers who hate to write. This isn't just a book about improving communications, presentations, and ideation; it's about removing the blah-blah- blah from your life for good.

The Gospel Of Yes

Author : Mike Glenn
ISBN : 9780307730480
Genre : Religion
File Size : 74. 45 MB
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God would like a word with you What you believe about God affects the way you approach life—often in ways you don’t realize. Are you convinced that God limits you, or liberates you? Is he more interested in correcting you or connecting with you? And when you hit a rough spot and start looking for help, do you believe God is against you or on your side? In The Gospel of Yes, Mike Glenn reveals God’s most powerful word, which opens our eyes to everything he does. That word is YES. God said “yes” to creating a world for us to live in and “yes” to inviting us into a relationship with him. No matter what we face in life, the best way to live is captured in one word: yes. When you live in God’s “yes” you find your identity, your true value, and your unique purpose on earth. You can stop trying to be someone else and enjoy being yourself as you join with God in doing the work of his kingdom. When God looks at you he always says “yes.” It’s time to live like you know it. Includes Discussion Questions for Personal and Group Use.

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