Book Notes · Markets & money
The Big Short (Michael Lewis)
The handful of outsiders who saw the subprime collapse coming and bet against it: what they noticed, how the bet worked (credit default swaps on mortgage bonds and CDOs), why it was so hard to hold, and what the book teaches about incentives.
Step 1 of 6 · Overview35 min read ·
Key idea
Prereqs: The 2008 financial crisis; Credit & leverage (Markets). Next: Fooled by Randomness. Book: Michael Lewis, *The Big Short: Inside the Doomsday Machine* (2010); film 2015.Next: 1. The characters