One day, Burry posted a message saying that he was sick of medicine and he planned to go into investing. Originally a neurologist, Burry quit being a doctor during his residency at Stanford Hospital because of a stock market blog he wrote in his spare time. The Big Short: Inside the Doomsday Machine He's a young hedge fund manager based in San Jose, Calif., who has Asperger's syndrome. One of the characters in Lewis' latest Wall Street saga is an unlikely hero, Michael Burry. The people he writes about in The Big Short are outsiders by virtue of youth or personality. Liar's Poker was an astonishing tale of kids fresh out of Ivy League schools making huge decisions about other people's money with no qualifications for doing so.īy the time of the financial crisis, the generation he wrote about in Liar's Poker was established Wall Streeters, typically up to their eyeballs in mortgage-backed securities. Twenty years ago, he wrote about his experience working as a young bond trader at Salomon Brothers. They shorted it - and they profited from its eventual collapse.įor Lewis, The Big Short is his return to the scene of the crime. In fact, they bet against the colossal tower of debt that Wall Street built.
In his new book, The Big Short, Michael Lewis writes about people who didn't buy in.
Nearly the whole financial system bought into subprime mortgages and the securities that were backed by them - and amounted to bundles of bad debt. Michael Lewis' The Big Short is the story of several people who saw through the subprime mortgage debacle and bet against it.
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