The Big Short by Michael Lewis PDF Download

April 24, 2021 Business, Popular

Download The Big Short by Michael Lewis PDF free. “The Big Short: Inside the Doomsday Machine” is not so much about the financial crisis as it is about what caused the meltdown in the first place.

Description of The Big Short by Michael Lewis PDF

“The Big Short: Inside the Doomsday Machine” explains in detail how the subprime mortgage crisis happened. Michael Lewis is the author of this book. The Big Short: Inside the Doomsday Machine” is not so much about the financial crisis as it is about what caused the meltdown in the first place. Lewis tells his story through the actions of four separate investment groups Scion Capital managed by Dr Michael Burry, FrontPoint Partners LLC, led by Steve Eisman, Cornwall Capital, co-managed by James Mai and Charlie Ledley and Greg Lippmann, a bond trader with Deutsche Bank. For years, many of the world’s biggest investment and commercial banks had been investing heavily in high-risk subprime mortgages.

This caused housing prices to rise, and a housing bubble to form. But soon, variable interest rates on these mortgages would begin to rise sharply, and massive numbers of people with little or no income would begin to default on mortgages they could no longer afford. Michael Lewis’s story is very much character-driven. His profiles of the main players are surprisingly detailed, brutally honest, and fascinating. The book is well worth the time to read and digest because to an extent we are still certainly living in this world.