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By Michael Lewis
From the bestselling author of Liar's Poker and Moneyball, this brilliant, fast-paced narrative exposes the dark underbelly of the 2008 global financial meltdown. Instead of focusing on the big Wall Street banks that collapsed, Michael Lewis tells the story of a handful of eccentric, misfitted outsiders who saw the crash coming before anyone else.
Recognizing that the American housing market was built on a ticking time bomb of fraudulent subprime mortgages, these contrarian investors did something unthinkable: they bet against the United States economy. By creating credit default swaps to "short" the housing market, they went to war with Wall Street, making absolute fortunes while the global financial system crumbled around them.
Key Takeaways:
The Anatomy of a Crisis: A masterclass in how complex financial instruments (like CDOs and synthetic derivatives) were used to blind the public and rating agencies.
The Power of Independent Thinking: A fascinating study of individuals who trusted their own rigorous data and analysis over the comforting illusions of the entire financial establishment.
Gripping and Informative: It breaks down dense, intricate financial concepts into a highly entertaining, human-driven story filled with dark humor.
Category: Novel
Format: Physical Book
Availability: In Stock