Dr. Michael J. Burry at UCLA Economics Commencement 2012
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- Опубликовано: 2 окт 2024
- 2012 UCLA Department of Economics Commencement featuring Dr. Michael J. Burry as keynote speaker
Keywords: Dr. Michael Burry, UCLA, Economics, Graduation 2012, Scion Capital Group, LLC
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Michael Burry. A classic example of a man with a brilliant mind ignored in a world of blissful ignorance with lazy opportunists and short term economic hacks. The world needs men like him more than ever. In this age of information we should all be far more intelligent and smarter than our previous generation. We're not. That needs to change. Listening and acting to what this great man says is an excellent start.
Indeed William Evans, I couldn't agree more with you.
Gold comment.
Its not quite that simple, the housing market had never had a real issue in over 100 years so betting against it was a really stupid idea and everyone was too stupid to simply check if what he was saying made sense.
@@jacksteel1539 But why wouldn't these highly intelligent CEO's that were getting paid ten's of millions of dollars every year not look into "what if this happens" research. Federal Reserve seems blissfully unaware of groupthink.
@@Ja50nkAt Yeah I know its sad
45 down votes from Goldman Sachs directors
And transgenders
2021: Another 63 downvotes from Melvin capital and Citadel.
my first reaction was like "this bro is listening to heavy metal?"
In my experience people that like metal are often calm, quiet, reserved people it. He fits the standard mould actually.
@@JonathanHilierChannel .
@@JonathanHilierChannel I FUCKING LOVE METAL AND IM NOT QUITE... HEAVY METAL AND GRAPHS TILL I DIE
Yeah super normal.
as if metallica is heavy metal lol
This guy is consistent. He's dropping debt to GDP ratios during a commencement speech. That was great.
“Consistent” 😂😂 For real…but he was connecting it all to their futures and how to take care of themselves (what not to become) 💞
LOL
”Truth is like poetry - and most people fucking hate poetry.”
14:01 "I bet against America and won." That's gotta be the greatest flex of 21st century.
He is telling the truth but the truth is easily forgotten in history. That is life.
+z ye Truth is Like Poetry, People Fucking Hate Poetry
+z ye In my opinion, the truth isn't forgotten. Have you observed what the general public knows about anything happening in the world today? I have friends who have Phd's in neurophysics, sociology, mathematics and everything under the sun...and they watch the Kardashians and could care less what is happening. But they're not the problem. It's the ignorant, uneducated masses who can't pick out a picture of who the Secretary of State is or what Citizens United is or what happend in Benghazi. THAT's the problem: Distraction due to apathy.
+Bob Villa haaa
The truth is like poetry. and most people fucking hate poetry. overheard in a DC bar
**distraction due to psychological warfare**
That old guy on the left is just rethinking his entire life
He’s annoying the shot out of me
Exactly my thought!
🤣🤣🤣
“It is as if we are dealing with the binary judgement of a fundamentalist religion”. 10 years later and this is starting to make a lot of sense
Binary judgements from a minority who want us to accept that a non binary person is a real thing.
What bothers me about this situation is the fact that the news and media are all going about a recession which is understandable due to the war and pandemic but still the same media still publish articles about folks in the same economy pulling off hefty 6figure profit(Averg. 200k in barely 8weeks) in this downtrend how is that possible?
I've come to realize both bear and bull market provide opportunities to make high gains, I used to call bluff on folks that bragged about making a fortune from such down-markets until I happened to do so myself
well good for you buddy, your market knowledge paid off. I've actually been thinking of reaching a portfolio-adviser, my 401k and stocks been losing everything it's gained since 2019, mind if I looked-up this one coach you use?
thank you for sharing; I just Googled his name and his website came up right away. It looks interesting so far. I'm going to book a call with him and let you know how it goes
It means the whole thing is rigged as hell.
Everyone is scared of the truth. This is an incredible speech filled with truth. Almost 9 years later and what he said here could not be becoming more true.
Agree. Some people adapt to change readily, many don't buy it as a wall of evidence falls on them.
I'm some not others, gratefully.
The repercussions of the 08 crash have yet to be felt
yeep
10 years later, this same smart man and others like him, wouldn’t be invited back anywhere near the academic campus, let alone give a commencement speech. We’ve learned nothing.
why do you think that?
@@WarbossPepe Well it is because the person that delivered the graduation speech at my school half-decade ago was given by someone that 90% of the American population recognized instead of someone that actually achieved a level of expertise in math/science (with the single minded pursuit of being right to back it up) that may very well be near impossible to replicate. If the person that gave your speech at your graduation at your target school (umich and above) was a Kardashian rather than Bob Sternfels, do you think we as a society have learned to follow a person based on what they are vs who they are?
@@nathanielme2622 Yeah, but graduation ceremonies are about pomp and pageantry bro, they're not really supposed to intellectual or instructive. After working your ass off for four years you're entitled to some celebrity entertainment! But I'd be pissed if that celebrity was a Kardashian, the host still has to have more credibility than that.
This commencement speech is under-rated with only 617,000 views. For me, it pinpoints the root of most failures: the inability to think critically which, education fails to cultivate whilst, for the most part, it rewards rote learning.
Dr. Burry is underrated
I love...LOVE... that he didn't give credit to UCLA where they were only too happy to take credit, as if the education the university provided is what gave him the necessary skills to predict the 2008 crisis. He let it be known that he essentially self-educated and gave very little credit to the university. What in the hell does it say about our educational institutions that only one university economic graduate in all the world predicted the mortgage crisis? In fact what helped him to predict the crisis is the one thing that a university never teaches, and that's to always question authority and supposed expertise. The greatest teachers humbly encourage those that dare to question their supposed expertise, and they are few and far between. For the most part, our educational system encourages conformity, memorization, networking, working within the status quo, and questioning in so far that it gives a supposed "expert" a platform to praise one's own "genius".
Philosophical Liasons I want to say he’s not the ONLY one to predict the financial crisis. A lot of people did. He received a lot of notoriety because of the book and movie the “The Big Short”. Though he def figured it out pretty early like 4 or 5 years early.
It's easy to read that you are jealous about him being a UCLA Alumnus! UCLA embraces questioning authority and going against the status quo! Read the following list of UCLA Alums who questioned authority: Jim Morrison, James Dean, Vint Cerf, Bill Walton, Francis Ford Coppola, etc, etc....
Universities teach you to conform not think for yourself.
Look up a guy named Peter Schiff. Perfectly forecasted the crisis
He's not alone in these realizations, though people like him tend to enjoy anonimity.
it's an incredible privilege to have access to this commencement address and to be able to listen to it whenever one chooses. Personally, I rank the importance and relevance of this speech almost as high as I would for any of Winston Churchill's wartime addresses to England. thank you, Dr. Michael Burry for these words of wisdom and your humanitarianism.
This comment holds up well in 2021... getting closer to hearing "Jenga".
It is appropriate in 2022 too.
Those last 30 seconds, it seemed, were straight from his heart. Imagine the difficulty of the decision to jump from one career to a completely unrelated one. Imagine having several people pressing you into allowing them to withdraw millions which would lead to your own bankruptcy. These are 21 minutes of pure intelligence and wisdom and I learned a hell lot from this.
This needs WAY more views.
Dude shorted 8.4 billion dollars of subprime mortgages against $100,000,000 in collateral! Talk about leverage! Balls of titanium to ride that in the red. Do you have any idea how hard it would be just to sleep when that trade is working against you? You have to be absolutely certain that you alone are correct and everyone else is both wrong and blind.
Stunning and amazing!
Watch this movie The big short
With enough aderall you could hold through a 99% drawdown
Wow. Christian Bale did an awesome job. Sure, he took it to extremes and added a bit of Asperger's to the mix, but the core of Michael J. Burry is definitely there.
Noel Down oh the actually Michael burry has diagnosed himself with Aspergers. If you didn't know. :)
Tony Davidson You probably haven't read the book where it is explained how he diagnosed himself. His son's teacher told him and his wife that he is acting little bit strange and that maybe they should see a therapist so they can see what's going on, they did and his son was diagnosed with Asperger's. As he started to read more on that topic he realized that he is reading about himself which really shocked him because he thought that what shaped his behaviour the most is his glass eye. Then he realised his eye couldn't explain some parts of his behaviour and wished he hadn't read about Asperger's.
@Azmon Rougier What's he supposed to do? Throw up the double horns and start brushing his teeth in the middle of the speech?
So Mike Burry of San Jose, a guy who gets his hair cut at SuperCuts, and doesn't wear shoes, knows more than Alan Greenspan and Hank Paulson?
@Azmon Rougier keep in mind the Big Short was also set five to six years prior to this speech.
Brilliant man. I wish I was more like him. Everyone doubts the true geniuses in the beginning until they change the world.
I wish he had a single brother lol 😆
I wish I could have a conversation with him about what's going on in our economy right now..
***** So who do I short lol jk
*****
Thanks man
Would love to hear his thoughts on the economy post trump
what is going on in the economy for the foreseeable future has nothing to do with trump. and i am certain he would tell you that.
Kevin Parsley 1compaqedr8 Here's what I can see about Trump... from what i can tell so far, what happened in 2008, at least politically, is a loss of confidence in the financial system. a HBO movie called Too Big to Fail gets more into this. the govt intervened primarily to calm the markets so there wouldn't be further runs on the bank. the markets calmed due to the gov't intervention and years of "quantitative easing" that followed. QE was really a con game... con for confidence. Lots of money was printed but not much inflation from it because the money remains parked on a balance sheet at the FED.
All that said, the markets were calmed in 2008/09 because the government calmed them with their bazooka, the next crisis will be because of a loss of confidence in government. Back to Trump, the FED has signaled it will unwind it's balance sheet (worth TRILLIONS in crap it bought) AND we've known 2017 would be a debt ceiling shitshow since 2015. I'd say a loss of confidence in government would be inevitable no matter who was president. Though Trump is trying real hard with MAGA and all.
He’s the youngest looking 41 year old white man I’ve ever seen. No cracks at all.
moisturize
And it must be extremely stressful being a hedge fund manager
"I did not tap dance to work."
That was quite a reference.
what is the reference?
A reference to a book about Warren Buffett “Tap dancing to work”
Anyone here watching from the Coronavirus crisis?
Nothing else to do but watch videos of better times when the only thing stopping us was our own stupidity
@@TheBacknblack92 the thing stopping us again is our own stupidity. Were in a similar situation to the GFC, man made again (coronavirus just set it off). Were about to experience a global debt crisis that will most likely be worse than 2008. Economics Explained just released a new video laying out, definitely worth checking out. Also if your looking to make any Michael Burry plays, he just bought an even larger stake in Tailored Brands and its dirt cheap right now.
Jay Yu what kind do you mean by tailored brands
Yep
Consumer credit leverage is certainly an analog to the MBO crisis. Better news is the liquidity is being delivered to individuals at the start.
Imagine being the only one betting AGAINST the big banks? This dude knows his capabilities for sure.
“Face another recession in your 20s” looks like he was right again.
Goddam right
So right it sends chills down your spine. He's very gifted, wish there was more interviews/content from him so we could learn more. A wealth of knowledge in that mans brain that is for sure.
@Hugeative haha are you serious? Take a closer look...
That one isn’t the one he is talking about. That was just pandemic driven. Just imagine what will happen when what we experienced last year, was just a bit of what is about to happen
@@Juznik1389 its possible that there was a recession coming anyway. The bond yield curves were already inverted in 2019. It was almost as if they predicted the pandemic
Christian Bale is going to portray Michael Burry amazingly well. Can't wait for The Big Short movie
+Franks Al Ghul Bale did a REALLY good job. It was one of the best movies of the year, and way better than "Margin Call"
+ArtjomGlad infinitely more entertaining
awesome movie, go see it
+ArtjomGlad Burned him and he didn't even know it.
Guy looks like he gets his hair cut at Super Cuts...
"So youre saying im wrong and youre the one with no shoes and look like you get your haircut at supercuts".
you have a nice haircut, did you do it yourself?
Quarantine cut.
He cuts his own hair
Who cares when he's that smart and rich lmao.
I like the guy before I heard this; now I like & respect him.
The two Professors at the back are actually the two Agents from the Matrix. 😎
Inspiring! Courageous! Honest! Genial! A speech to take for life!
For some reason I thought his PhD was in economics but now I understand that would have probably trained the critical inquiry right out of him.
If anything, he probably would be even more critical. Getting a PhD is no joke, and you have to be highly critical of every single thing all the time.
@Azmon Rougier You must be poorly educated to think in such terms. Nobody with a Masters degree or a PhD would ever make such ridiculous claims...
@Azmon Rougier If being indoctrinated is a fact, then so is critical thinking. I'm sorry bud, but you really have no clue what you are talking about.
@Azmon Rougier If throwing insults is your only response, then I rest my case.
@Azmon Rougier So yeah, I didn't read any of that and it's quite clear you have issues.
I find your assumptions amusing though, claiming higher educated people are not able of critical thinking when its critical in itself to be able to think critically, especially when you are working on your thesis. That is even encouraged from the start by the teachers, but it goes without saying...
Get educated, son :)
He's not nearly as eccentric as Bale played him.
He's also giving a written speech here. When social dynamics aren't in play it can be a lot easier to mask awkward social behavior.
I agree. Bale went a little over the top, but I think it worked for the film to embellish a bit.
@Azmon Rougier who cares fanboy
@Azmon Rougier epic logic there you pretentious hippie
As someone with autism myself it is hard to do day to day like he was portrayed in the movie. During this speech he is in complete control and can just learn off the speech and facial movements. He might be more like the movie if you put him under pressure or stress.
His words ring more and more true as time carries on
"Please check your premises. You have contradictions before you". He reads Ayn Rand books.
+Todd Bauer Good one. My nugget was"..the dark ages of finance offers no such light.."
Todd Bauer He reads a shit-tone of books. So many references in here
YEAH!!!
Best life investment strategy by Burry....hit the button again and again on short term risks and long term benefits !!! Never stop asking questions
Wow, I was watching clips of Big Short today and never knew Michael Burry was from UCLA! More respect
The US Debt to GDP ratio is currently 122%. Closing in on Greece at 160%
I watched 3 times, 2 times to listen and understand Mr. Burry. And 3 rd time i only watched man in black left behind Mr. Burry. That man is living meme life 😂😂😂
ONE OF THE GREATEST SPEECHES OF ALL TIME. ALL TIME. ALL TIME.
Wow! That's some hardcore truth right there ladies and gentlemen. welcome to the world children, good fucken luck!
As of 02/2021 US debt to GDP is roughly 135%, only 9 years after this speech.
Which is the most reliable source to confirm this from ?
@@Godsfavouritechild_555 if you look up the Fred website: Federal Debt: Total Public Debt as Percent of Gross Domestic Product (GFDEGDQ188S) you’ll get the numbers for Q3 2020.
@@JackBoii Thanks, seems like it has lowered now to 127%, also burry said he doesn't hate bitcoin but thinks that the governments will not let it exist as it poses a threat to dollar, but on the other hand it's the only unrelated asset and a hedge for inflation ( though it's volatile ) .. don't know what should an individual do to safeguard their capital.
@@JackBoii Also I just subscribed, sick channel dude!
@@Godsfavouritechild_555 Wtf you mean you don't know what an individual should do to safeguard capital.... invest it? Lmao bro you don't know shit. Quit throwing around big words and learn the fundamentals.
That gave me chills. Burry is the man.
Michael's Twitter sent me here. Damn, how he called these things. Top G 🥰
Does anyone else see the irony in the sunglasses the regents, or whomever academic luminaries behind him, put on as soon as he basically started telling the story?
Glad to even have access to this.
Dude has balls calling out the government and FED during a graduation speech. He should be chair of the FED, not Powell.
We could only dream
Right!!!!
We do not need a Federal Reserve, that is the entire point. The existence of such a group is the reason the corruption is standardized in Washington DC. No one thinks that the day will come when they will not be able to pay our debt with more debt. The printing press is eternal for them.
@@jessenichols8178 right?! Along with stupidity 🙄
Wow he is Normal, it was wrong of Christian Bale and the direction of The Big Short to have him portrayed like that.
6-4-22____Thank You Dr. Burry.
History is about to repeat 10 fold.
Brace for impact.
This video has not been banned? I imagine the Truth Commission will want this scrubbed soon. This guy is smart. Pay attention.
I want Michael Burry and Jim Rogers to talk about agriculture and farmland and explain why it is a good place to put your money
I believe it's called .... food shortages
Why is he played as such an awkward guy in the movie? He is not
To keep people from listening to him
I was a residential bricklayer throughout the housing bubble. All the while I stood in awe at all the money people are spending on homes. I was earning an easy $1,000/plus wk and no way I thought I could do it. I had no economic training to back up my concern other than the gut feeling that this just can't be right. Hind sight is 20/20. We should have went into a recession at end of Clinton era. Instead we got Glass Steagal repeal and dereg of Derivatives. Rest is history....Thanks Bill ~
Great speech. Right to the point without a phony comedy act, etc.
Great talk by a guy who earned the right to give it. Key Points: 1. You, as an individual, have the power for your future. Don’t look to the group. 2. UCLA did not prepare him for success. 3. Do not compromise yourself by making decisions based on short-term gains (with long-term consequences).
Watching for the 1st time after COVID-19 has struck. Yikes.
05:50 "when the entitled elect themselves, the party accelerates, the brutal hangover is inevitable." great quote
I love this doom sayer. He’s so realistic.
thats a doom slayer
#Pragmatist
Salutes to Dr. Burry. Thats y thousands years ago, In Indian literary book Geetha, its written that "Do your duty with sincerity, returns will follow you now or later, but guaranteed". (Karam kar, phal ki apeksha mat kar).
He is always generous.
You know someone is speaking facts when everyone is squirming in their chairs
Conan O'Brian's speech = 2.9m views
Dr. Michael J. Burry's speech = 574k views
Ridiculous
Surprised he's still alive... They made him delete his Twitter recently he was dropping to much alpha.
He is truly the 1%. Not in terms of wealth but in terms of enlightenment.
err maybe even a couple standard deviations to the right of 1%...
I agree that precious metals may go down in price along with other commodities, primarily because the paper markets for the metals is perhaps 100 times as big as the actual metals themselves, and as investors start losing money in stocks and bonds, many will sell their paper metals holdings. This will reduce the paper price of gold and silver. I think we will see a divergence between the paper price of gold and the physical metal, though. And gold and silver will be highly valued (continued)
I like how the bored ghost of George Carlin is just chillin in the background
How
The old man with glasses
S&P and Moodys should be charged.
ppl said it was wall st, but these ppl were the real crooks
Great and honest speech. I love his integrity, thank you M. Burry for saying things as they are.
Who is here after the Game stop stock stuff!
he made millions off it...lol...just like he made millions off jack n the box, michaels during the pandemic...and the housing collapse. this guy is legendary.
HOLD THE LINE FOR HISTORIES SAKE
You will get hurt.
Wow his investment philosophy is sort of like Soro's, trying to falsify economic assumptions, because a theory cannot be proven right, what you can do is to try to prove it false/wrong
118 people from the Government watched this video
Gained so much more respect for burry from this speech. His lessons from being a physician and at wallstreet ultimately helped him to be a great individual. ++
"Every mistake becomes legendary after you succeed"-------jack ma
Michael was exceptional student😂😂0:31
Thank you for recording this and making it available here.
''I begun to doubt the traditional education''. Look at those faces at the background when he said that 🤣
I really like the story of this guy... All the scrutiny on him is such a big lesson about government and human nature
Listen to these words, just as true in 2023 as they were in 2012!!
Intelligence is overrated and integrity is underrated
clear thinking requires courage rather than intelligence
the two guys in the back have an unlimited amount of swag
😆😆
This dude is totally Satoshi Nakamoto.
@@delalias5754 bro what p/e ratio? bitcoin does not have any earnings lol
The shits going to hit the fan bigger then 2008
Two years later...
damn , being smart like him must be nice!
TELEVISIBLE also scary not having blissful ignorance
It is both a bliss and a curse at the same time: because a man like him has to fight everyone [his own investors he had made very, very rich, hated him even when he delivered like 1000% profit to them]. Not to mention making enemies at the the government agencies and at the Wall Street powerhouses.
Remember "Matrix" (1999) movie when Neo got out of the matrix. When he came back to the Matrix again, everyone on the streets started fighting him taking the shape of one the Agents. The same is true in real life. It is that bad!
Being different (no matter how right and truthful you are) is the single most difficult to do on this earth. In religion Jesus Christ is the prime example for that.
Still be BRAVE, have FAITH and DO what's need. Amen.
Aspergers syndrome is a terrible curse. I was born with it like burry but probably not as severe, I didnt speak until I was 12. At the end of the big short it says "I found my wife on match.com and my caption said " im socially awkward, I have a pre med degree with 145000 in student loans debt, and she said youre just what im looking for'". I have had hideous girlfriends and have never had a friend for more than four years
Trevor S. Christ I’m sorry
I am a big fan of Michael Burry. Hope one day I can be the investor of his firm. How can his investors not trust him?
This guy is just incredible. I love how Christian Bale played him too, even if he highly exaggerated his body language into something almost entirely different. Both characters are great in unique ways and in my eyes don't need to be identical.
You americans need a president like this!
I would vote for him if I was a US citizen
shit runs so deep ... he might be the saviour the world needs
The Big Short is an amazing movie to watch-- just try not to get lost with some of the vocabulary used.
Trying to find that old Bloomberg feature where Dr. Burry was the subject. Anyone who may have any link/s?
+mark yu I'm not sure but I think you mean this: www.bloomberg.com/video/profile-michael-burry-yxFQeBrfTyOqh2T6rYw2UQ.html/
+Daan Annemans Much thank you to you. This is the video I'm looking for.
I love how he straight up accidentally goes off on a tangent about irresponsible government spending
Michael Burry for Chairperson of the Federal Reserve- To right the wrongs of the immoral Greenspan, Bernake, Yellen.
Yes, this is also very inspiring. Guess we had squandered all those high paid educational investment. He is smarter to divert his career in early time. It's worth to be streamed here........STF.....
Great words from a brilliant thinker!
He was wrong about debt to gdp ratio. Welcome to 2021 where congress is still giving big corporate and big banks bailouts.
10 ten years later. Here we are, in our twenties and facing a recession. Not from debt itself but debt will play a factor in how slowly the recovery will be.
In the thumbnail it looks like a really old Steve Carrell standing behind Dr Burry.
NINJA Loans were a good indicator....
Sept 9,2022 .... Dr Burry is once again calling all who will listen that the storm of our generation is here. How many will heed the warning?
Good luck, as this great cycle comes to an end.
I'm actually surprised he was allowed to give this speech.
I thought the same thing and realized how the freedom of speech has been greatly suppressed, very gradually.
PC and Woke Culture spearheaded by monitoring Social Media is behind all of this.
@@sunnydlight2375 Well lets be real here. This speech transcends that nonsense so it shouldn't be compared. In my eyes he gave a near 22min version of: "Hey grads, now that you're done having fun in school, prepare yourselves to face Armageddon in your adulthood, good luck." My only prediction is that suicide rates are gonna sky rocket with this generation in the future.
@@thephilosopher7173 it already has, while actually just broadly it has risen almost like our system doesn't cater to human needs
What a brilliant man.
People are once again not listening.
I love this speech. Michael Burry has such an inspirational story and wisdom from what he's lived. And I'm not just saying that since I'm a UCLA grad lol.
no one thought you were.
Burry’s deleted tweet sent me here
What was it? What did it say?