He stayed up late while a resident at Stanford working on his stock picking blog. He fell asleep during a surgery. When he told Stanford he wanted to drop out, they made him see a psychiatrist! It's just the craziest story.
@@paulcoote3094 A more down to earth troll insult that actually makes sense would be "of course he did it, he's authistic". But then again, it just works in his favor..
It's called pride, they were so pissed about the trade and probably wanted to sue him and all that but dont want to admit that he was right. Their own pride and ego is forcing them to be pissed off instead of simply admitting to him he was right
@@Nesto38 No, it's not pride. The outcome does not determine the rationality of the trade. Even if he was right it could have been a too risky bet. He might have just gotten lucky.
People betting against the housing market in the past is comparable with flat-earthers today. Would you be mad if someone would bet your millions that the earth is flat? Even if the person is right in the end.
@@muabyt7333 Burry had a reason to believe that housing market would go bust. He did his research thoroughly. At one point an old man tells him that even the lawyers wouldn't read the stuff he has read. Flat Earthers are a bunch of fools who won't listen to reason just like anti-vaxers. That was a weird-ass comparison you made there
@@tanmaysahoo7416 dude murry bet their whole lives on something that never happened before...i can see why they would still be upset even if they made a ton of money...its like going all in on a black jack hand when the dealer is showing an ace...
Tony Montana ...I have to disagree, Christian bale was great in the movie BUT, when it comes to an accurate portrayal of this guy, Bale went a little bit overboard ... he made this dude seem like he had some kind of super weird anti-social disorder or something, idk ...
After watching Christian Bale's portrayal, I immediately thought to myself "I think the guy may have asbergers." Read more about Burry later, his kid has been diagnosed as having asbergers and Michael himself, after reading the symptoms of it, now wonders himself if he does have it too. Not that it can't be overcome, but there definitely was the sense of this guy doesn't interact quite like most people and is far and away more focused on what he does than on human interaction. I'm sure you can think of a few people "on the spectrum" you've known in your life who are similar. Maybe not the most socially adept, but they have a laser beam focus on a couple very specific subjects and are amazingly good with them, they can see and pick out things more average people won't when they get so focused.
@Edwin Younes You're all missing the point. Burry took a short position of over a billion of his investors' money in what was at the time, the most stable securities on the planet, believing something that had never happened before, would happen. You can have 100% faith in someone until they do something stupid. Burry was doing something stupid. You people don't understand what hindsight is.
The fact that a man with one eye saw something nearly everyone else couldn’t is just poetic, and his confidence in his trade while investors panicked makes for a story almost too good to be true.
@@samsonsoturian6013 the only bet that didn't work was when he shorted Tesla stock to early. He miscalculated the amount of die hard fans Elon could get, and for how much time, before the stock inevitably stumble. He even bought AMC stock and worked.
@@samsonsoturian6013 No one is always right. The important thing is when someone knows 100% that he has the best hand, he should go all in. He did and won loads of money.
No, it's much simpler. He just knows the math and looks rationally what it implies even if the whole world says you're wrong. If you know the math anyone can deduce such things, but if everyone says you're wrong and what you need to do is risk your entire career and all your money, people get insecure and play it safe. Hell, your reputation alone at risk make people back of. Example of this is Lorentz who actually was first to discover special relativity before Einstein. The difference is that Lorentz thought it was some kind of faulty mathematical magic trick whereas Einstein rationally saw that it was the best description and went on to evolve it into General Relativity.
It is very entertaining but way of the mark. The biggest lie in all of this is that the banks are responsible for the overall state of the American economy. The banks had nothing to do with the US economy being outsourced to China.
The ol' Carl Icahn play book. Even if nothing actually happens in the company operations wise, he makes money by just selling after he announces he bought. Although he only has a limited # of times he can do that if people lose money.
Inda Now it is illegal to manipulate a stick with social media. Elon musk did this in 2018 and was fined 40 million. I think his Twitter got hacked the other day
The investors were upset because Michael Burry refused to let them sell their position at a loss. The investors in turn sued him. Before the lawsuits could make it to court, the investors' position recognized huge gains, and Burry "settled" the case by allowing investors to withdraw their winning investments.
Those investors who were angry even after making tens of millions... Classic example of people who want to be right even if in being right they self destruct.
Imagine you're being forced to go bungee jumping. You're deathly scared and you feel like you're going to die if you jump. But the people working there are assuring you that "it's gonna be fine, trust me bro." EXCEPT NO ONE HAS EVER DONE THE JUMP BEFORE. In fact, there's no record of a jump ever being successful at this bungee place. Regardless of your objections, the staff pushes you anyway and you end up surviving and winning a little prize. Are you happy? Probably more relieved than happy. But also probably mad at the people who pushed you off without your full approval. Michael Burry might have understood the situation but some of the investors are ignorant of some of the details of this stuff. They were probably confused FOR YEARS. Even Burry was a little confused when the CDOs and bonds weren't decreasing in value when defaults were going up.
I think the problem is deeper, it's not about the money. He placed a bet against one of the strongest foundations of the American economy - the real estate market. Which worked for so long, and people simply could not believe that what they had believed in for so long could beat a bubble. This makes them idiots, and it’s hard to put up with it, even if you made money in the end, and the fact that almost everyone turned out to be idiots, and there is nothing shameful in that. It's not about the money.
@@prokrastinator6648 They weren't idiots... securitization motivated lenders to lend to people that couldn't pay it back. They knew and didn't care because they could immediately bundle bad loans with good loans, creating a "diversified bond", and they'd sell it off by the weekend. It was no longer their problem until they started to fail and became EVERYONE'S problem. The people trading the bonds may not have known, but the lenders knew, and every one of them crossed their fingers and hoped the market would remain stable until they could cash out, knowing it would collapse and they could say "everything was fine when I left folks". They weren't idiots. They were criminals.
As a financial advisor I know how right he is.... you can make people money and they will still be upset... because humans are emotional, irrational creatures to a large extent.
@@jayakrishnan26 Incorrect. They were upset because they thought the trade was bad and were worried about losing their money, even when they made money they still blamed Barry for causing them such worry.
That's not why they are mad. They are mad because the purpose of funds is to present with a stable, slow growth. This is not their betting money, it's their safe money. Now sure, it turned out that Burry was right, but it was in no way a safe bet, so they were also right to be mad - that's not what they gave him the money to do. Would you ever take all your savings and bet on black? Now imagine if someone took all your savings and did it against your will. I wouldn't care in the least that I happened to double my money, I would want that person's head for daring to do that.
@@oNtuobAwoH How it wasn't a safe bet? If you invest in stocks sometimes they can be manipulated. If how ever you are betting for a bubble to burst that cannot bet manipulated with so much evidence of it's likelihood to happen, then to me that sounds like a pretty safe bet in a finance world. And Burry didn't bet all the liquidity.
Christian Bale really got a lot of his mannerisms.. that eye is just such a beautiful metaphor for his ability to see what was really happening in the market.
What's most astonishing isn't the fact that he had the foresight to see it coming, and the guts to bet on it. The most astonishing part is he empathizes with those inveators who doubted him so readily.
People with Asperger's eventually learn to behave like that, in order to adjust to a world where they are the minority. We understand that neurotypicals are lemmings spellbound by all the intense, distractive theater that their mutualised emotions keep demanding of them - like a herd being under the influence of hard drugs. They really can't seem to help it and they have resort to the premise of "empathy" as a group advocacy slogan to cope with the quicksand-like challenges they find themselves falling into. 😊
He kept up on the information, had the patience to look into the details and made a brilliant trade based on his own information. But even he is not infallible, as evidenced by the fact that he sold his positions early at a price lower than they would have been a few months later
@obviously6thbeliever Clearly he was under a great deal of pressure to do so, and there were apparently growing risks that the long position holders were about to fail so hard that they could not meet their obligations. It is complex, but I believe the type of instrument involved may have been lower in obligation priority to fulfill, behind debts to creditors and more senior non-derivative securities of failing companies carrying the obligations. At least in the movie they portrayed angst at the possibility of waiting too long to close the position and getting nothing.
Michael Burry his success is a example that if you are smart and intelligent, your mind and you heart says it is the right thing to do, you stick to your idea and decision no matter how strong and big the opposition is
The investors who made serious money from Dr. Burry should kiss the ground he walks on. He looked out of the box and beyond to see the opportunity..... He commands forward thinking in modern investing strategy........
NYRM1974 Well, money is not always worth the stress, amd there are set risk limits even for hedgefunds, set strategies etc, o lr at least should be.. investors have various risk appetites.. plus he made them not being able to withdraw their money for years, you see?
@@yoyu2567 But his reasoning was there to believe the market was gonna crash, and the only reason he would have failed was because they played it crooked.
I hope he lives his best life he really deserves it. Imagine spotting such a big flaw where thousands of other economists or investors couldn't and then betting even betting essentially his future on it. Like watch "The Big Short" if you havn't like really
Americans hate being told they’re wrong. Even if you say “Here’s the $400M I made you, but you were wrong.” They will still hate that you brought it up.
@@trh616 Nope he is right. Ego is a drug. Its just because they dont wanna be wrong. Likely most of them were already rich so it was more important to be right than getting any richer. It made them feel stupid
that feeling you're in a big position going opposite way (but you know you're right) and in the end it goes in your favor, it is more of a relief, the $$$ are a nice bonus though.
If you have a movie made after you, you are the sigma trader Surely years after that he lost lots of money on many shorts but that trade was defiantly the most legendary one we ever saw
I mean the investors who got tens of millions probably invested hundreds of millions so they can be pretty stressed cause all that could go entirely if this prediction were to be wrong
You have to be wealthy -- "accredited" -- to be allowed to invest in a hedge fund. I have zero sympathy for wealthy people getting stressed by investing in funds that are by their very nature risky.
Investing and trading are more than just having TA skills.there is a big component of discipline and emotional maturity,that one has to work on! Time in the market vs timing the market. If you keep that mentality as an investor, you will stay calm during the storm! Within some months I was making a lot more money and have continued on that same path
He is an MD who is very smart and used his ability to predict the collapse of the housing market. He created an investment company and made a fortune on betting against the housing market. See the movie "The Big Short" for the details. Actually, when President Clinton signed the legislation on July 12, 1999 that allowed the kind of mortgage backed securities that caused the recession, it was entirely predictable. For some reason, George Bush gets the blame, but Clinton set the timer on the bomb. The Democrats later said the banks were greedy, but it was the Democrats who demanded the legislation to allow for the banks to be able to do this in order to offer home ownership to more people. Offering home loans to people with 550 credit scores, 125% loans, no documentation loans, variable rate mortgages was a perfect plan for disaster. I don't know if you remember "DiTech" mortgage. You could make a phone call and get a 125% home loan over the phone in a few days with no verification of income of employment. DiTech is now bankrupt.
@@Thawhid Lol Neither did you. You didn't even offer a movie to watch. You are a finalist to win the prize for the most useless internet comment ever. Lol.
@@garyK.45ACP are you arrogant or just delusional? Firstly I didn't even throw a dig at anyone yet your ego wants to create a YT argument. And of course Id comment because I wanted to know the answer, by leaving a comment I'll actually be notified whenever that day comes. I'm not the one making "useless" insults lol It does not take a genius to figure that out, don't be a negative clown be kind to others even if it's behind a screen bc it's not hard to be FYI ik you're trolling but grow up yea
When I was deployed to Iraq in 2007, some of the guys were playing around with etrade. I remember one of my buddies bought stock in Chevrolet right before the government bailout and made a shitload of money.
I do t remember this scene from the movie but I’d really be interested in seeing the real 60 minutes clip of this interview to see how close Cristian Bale was at playing this guy...
Hahaha Burry acts like he did nothing to upset his investors. They were upset because Burry had assured them that when the loans made in 2005 started to default the value of his swaps would rise. The loans did indeed begin to default but the swaps didn't budge for months, albeit because the market took very long to understand what was going on. When Burry's investors got spooked, he sidepocketed the swaps. That's like saying hey, remember when I said you could have your money back, actually not so much, you can have it back when I feel like it. Of course, Burry was absolutely right and he made his investors an absurd profit, but he failed to appreciate that nobody else understood what he understood.
I agree, that's exactly why they were upset. But still, they used him to make money, and if they would have pulled their money he wouldn't have had the money to afford the premiums and his short would have been voided. I think he was just not communicating clearly enough for the investors to trust his decisions.
No he shot off emails very regularly. It was just the case that the subject matter took weeks of study to really understand. That's why the market took so long to move in Burry's direction, that's why so few people in the world were shorting MBSs. Almost no one understood what was hapenning. Also, all the money he made them beforehand was through trading securities. Now all of a sudden he moved the entire portfolio into shorting bonds that no one else had ever shorted. He literally had to persuade the investment banks to invent this trade. Short of inviting all of his investors to attend a 2 week seminar in Cupertino, he never would have gotten them to calm down.
Eitan Ben Dor He knows why they were upset but anybody who makes millions and is still upset is just dumb, which is why he probably didn't want to try to explain it to the morons to begin with.
The investors were just plain dumb in my opinion. They put their trust too much in big banks and the market. It's like they said in the movie, all of this could have been prevented if someone had paid a little bit more attention. The investors should have at least done a little research on their own and tried to understand burry's point of view. If they would have done that and not just written him off as a lunatic they would've known that it was as plain as a day that market was going to collapse no matter what. It was just a matter of time.
+BillyBob Of course, its a film everything is dramatized for the entertainment of the viewer. I think they wanted to get across that he is a extremely type A, high functioning individual and likely a genius. The guy started studying economics & the stock market on his own time while attending medical school and successfully predicted and bet against one of the biggest financial crises in history.
+Mark Sesum He never really got the headlines as you put it, what he got was the FBI on his tail several times... most people know this guy because of the movie, which is totally wrong... You don't really sound like you know a lot about him neither... nor do you even sound like you know how he came across all those investor funds.
Yeah, on some level I'd guess Bale said "Asperger's huh? Say no more!" and pulled out the stereotypical autistic genius performance we've all seen a million times.
gotta say: although Christian Bale put his own drive on the guy - which obviously is a theatrical tool, to really emphasize character traits - he did amazing on this job.
Tbh if I was an investor, I'd take the ten million he made me, and then never give Michael Barry my money again. It only makes sense to give a fund your money to minimize the risk. I didn't come here to 'bet'.
It wasn't a bet, he went through the contents of the bonds and realised it was all shit. It was an inevitability not a bet, that's the whole point. Ffs
@@Hitesh-fw6nj Well they didn't know that, and wasn't educated enough to understand it even if he explained it. Kind of why they put their money in his hands in the first place, and his promise was to invest it safely. He sold all assets to pay for the informed bet, leaving the investors in the dark. I would've been pissed, and I think you would too. It ended well but they didn't know if it was a safe bet even after they won. They didn't even know if what he did was legal.
I also made money for some Canadian friends here in Canada. I bet against the Canadian loonie when the oil hit 120$ per barrel back in 2008. Burry also knows that the price of OIL was were the bailouts from these banks were being invested in to cover their balance sheets. The money I made allowed me to buy a new car, I took some friends money and we exchanged our money to US funds when the loonie hit 1.02 parity over. We then waited for the mess to settle and exchanged back at 68 cents. I did not charge them anything except to keep their mouth shut about it. This was also going on in the Stock Market at that time, I notice massive amounts of currency exchanges going on and figured someone was shorting the exchanges doing high frequency money exchanges. I bet most of my savings and made money back for a new vehicle which I still have.
@@Wafaloo 😂We don’t say Canadian dollar we say loonie 😂. Many people here lost their entire savings, jobs, houses, cars, and most of their toys and many had to move in with their parents. We moved into a new bigger house when the housing collapsed here so the house is now triple the value we paid ( all paid off) in 2010 one year after we bought it. What I did was not illegal it was just watch the massive currency trades going on, Bury here does not mention the 120$ barrel oil price that was the main fuel that was driving the subprime mortgages. That’s where all the private ninja and junk loans money was coming from to loan out, oil stocks swaps.
Investors were not angry that not only they believed the trade was wrong, the main problem is he pulled his other positions to place more on his short via cdos & cds’s on the housing market. Hence having no diversity, sofisticated investors who place there money in funds such as burrys are not looking to make a great deal of money if having to risk everything. They are looking to make great returns on a risk adjusted basis. What burry did is what an Angel investor,venture capitalist, would do is make large bets without any hedge. I still love burry, just believe maybe his terms of his funds should have been established that not only he had control to take any position or direction with the funds (which he did establish), but also the possibility of no diversification or hedge if sought reasonable.
That last part ^ would have made his fund 1/4 the size it was, but in long term after housing collapse , investors would have piled in and I see no reason why he would not be managing a 10+ billion dollar fund today
The man the myth the legend. Funny how he did this 13yrs ago and the film releases 6 yrs ago and it is already happening again, with same old stupidity of the people
So, you go to your broker and buy some stocks of msft and amzn, and 2 months later you think you might have made the wrong decision, so you want to sell your shares, and your broker says "nope, can't let you do that, we need your money right now. Piss off, I'll get back to you later." That's what Michael Burry did.
Is this an interview, or just echo? You invested a lot of money, Yes, we invested a lot of money you must have been very confident. Yes I was very confident on the outcome. So you made a lot of money. Yes I made a lot of money So your clients were grateful. Yes, my clients were grateful
I can understand being upset despise having earned a lot from it. Shorting doesn't necessarily make one money even if the underlying assumption is correct
The swap contracts had covenant terms that required a minimum amount in the fund. If he gave their money back before the time, the contracts were voided.
I would be upset too ..it's like you are sitting in a car and driver is driving at 180KMH but he reaches the destination safely and saves u some time ..but the experience would be so traumatic and besides margin for error is very low ..if one small mistake accident will happen and it will result in death.
The You tube comment section really is an incredible place. Where else could you go to find World class experts in every field of life? From people who go on Maths, computer and science channels to tell professors that the video they made about their specialist subject is wrong to the people that can be confronted with a video explaining a problem that World leaders in the field are struggling with only for a random person in the comments telling them the problem is actually pretty straightforward and easy to solve. Why, even here we are lucky to be granted the wisdom of financial geniuses that knew the crash of 2008 was inevitable and obvious. We are lucky to be living in a time when such incredible intellects are able to find the time in their busy lives to provide us with their insights and teachings.
You know a lot of people won’t say this but I genuinely think he single-handedly caused the housing crisis in a crazy way I mean he says that he shorted 8 billion, what you think was gonna happen? That kind of movement is bound to cause some kind of negative speculation. Okay, he might not have caused it, but it didn’t help.
He seems relatively humble about it all. Good for him, but that couldn’t be me. If I had people calling me an idiot for years after showing them the reasons why I had this theory, and then I was proven right in the end, the level of pettiness I would exude over them would be astronomical. ESPECIALLY after they wouldn’t just admit they were wrong. I’m talking calling them in the middle of the night to simply laugh over the phone at them level of pettiness.
So glad I randomly came across the movie The Big Short. What a great movie and I learned quite a bit about the market crash that I didn't know before. Definitely recommend to anyone who hasn't seen the movie yet to watch it. Especially with the way this world is now there's no telling when it'll happen again
Perhaps the reason the investors were upset was not because he made them money, but because of how they felt he treated them during this process. If I was an investor that had millions locked up in some crazy scheme, I don’t think I would have been too happy either. Just because the outcome was good doesn’t necessarily mean the process was good.
Burry took them on a 2-year ride of uncertainty and anxiety as he betted their money against the moon falling from the sky. All while paying hefty premiums for every month it didn't. The fund nearly ran out because of those premiums and the fact that Burry hadn't anticipated it would take months before markets started to realize what was happening. Yeah, he made them a lot of money. But look at it from the perspective of these investors who didn't have the luxury of hindsight yet - they thought Burry was simultaneously insane *and* *extremely, massively* lucky he just happened to bet on the one extremely unlikely thing that actually happened. I'd've withdrawn my money too.
Pieter-Jan It's not luck, considering that he did a throughout investigation and had a reasonable hypothesis supported by data that he has looked at. It's like saying that it's just pure massive luck to bet against a horse that you have examined yourself and found to have an aneurysm that will burst next time it runs.
@Joe Ch: you missed the part where I said "look at it from the perspective of these investors". Burry was a terrible communicator, he never convincingly explained the reasoning behind his decisions.
He has mortgage eyes
One fixed, one variable
Dam bro that's cold
It's cause he's constantly looking at 17 monitors trading shares and has to share his eyes with them clearly
What is matter with you buddy...See comment below yours, He said"I bet against the america and won"
Sounds like it's time to buy a swap 😉
lewis morrison one fixed, one adjustable
That fuckin hilarious
Why does this look like an old man interviewing his younger self?
sadmansushi , omg did not observe that!
And I thought I was the only one who thought that😂
You have just blown my mind 😂
Hahahha yes!
YOU WIN SADMAN
In a world of blind people... A guy with one eye is the king. Well done Michael Burry.
One eye is all that’s needed to pay attention
Nailed that
That's hilarious. Never has that been more fitting.
@Devansh Chauhan tere baap
Minority report guy next time dont plagiarize its better quote not regurgitate
This guy should play batman.
That's funny.
hahahahahahahahahaahahahaha nice one
So much irony in this comment. 👌🏻
Are you Bruce Wayne?
Do you have the same eye condition he has or something?
I think Christian Bale hammed up his weirdness - he's not that weird. But other than that he nailed the overall vibe of the character.
I think a lot was for dramatic purposes, to be honest
An actor made it more entertaining? Really?
@@kdog8073 exactly.
@@kdog8073 some people consider not being 100% faithful to be a bad thing lol
Not a documentary
This man is a physician who was a resident neurologist at Stanford before his legendary big short. This man is incredible.
Really !! ... that explain a lot .
He stayed up late while a resident at Stanford working on his stock picking blog. He fell asleep during a surgery. When he told Stanford he wanted to drop out, they made him see a psychiatrist! It's just the craziest story.
Just lucky. He hasn't done anything since, maybe if he cures cancer and had stopped covid he could be labelled incredible. Just a plain ol gambler.
@@paulcoote3094 in his first year(2001), the S&P fell 12% but he made 55% gaina. In 2002 the S&P fell 22% and he made 16% gains.
"Gambler"
@@paulcoote3094 A more down to earth troll insult that actually makes sense would be "of course he did it, he's authistic". But then again, it just works in his favor..
Imagine being mad at a guy who made you millions of dollars. Lol
It's called pride, they were so pissed about the trade and probably wanted to sue him and all that but dont want to admit that he was right. Their own pride and ego is forcing them to be pissed off instead of simply admitting to him he was right
@@Nesto38 No, it's not pride. The outcome does not determine the rationality of the trade. Even if he was right it could have been a too risky bet. He might have just gotten lucky.
People betting against the housing market in the past is comparable with flat-earthers today. Would you be mad if someone would bet your millions that the earth is flat? Even if the person is right in the end.
@@muabyt7333 Burry had a reason to believe that housing market would go bust. He did his research thoroughly. At one point an old man tells him that even the lawyers wouldn't read the stuff he has read. Flat Earthers are a bunch of fools who won't listen to reason just like anti-vaxers. That was a weird-ass comparison you made there
@@tanmaysahoo7416 dude murry bet their whole lives on something that never happened before...i can see why they would still be upset even if they made a ton of money...its like going all in on a black jack hand when the dealer is showing an ace...
"It's not about the money... it's about sending a message."
JiveLive2G this is a joker quote you idiot
@@xandersotheraccount2356 xD
@@xandersotheraccount2356 And he's just peacefully expanding the meaning of how joker's quote relates to the situation. chillax.
@@billycasper3351 damn u handled it nicely😅😅
It’s not just about the money. It’s about a shit ton of money!!
When a Goldman Sachs ad is before the video. Smh
I hope Goldman Sachs go bankrupt.
Can I ask what do they advertise because they used to be pretty covert, now they are a retail bank and play that seriously?
"They're evil!"
"They're evil"
*_Ya just can't win with you people..._*
GS advertising on RUclips? Lol sure
🎶 "Shake, shake, shake ya moneymakuhhhh..." 🎶
i swear to god just watched big short, bale performs this guy to the point.
+Tony Montana
You got that right. He'll probably pick up Best Supporting Actor at The Oscars
no he doesnt. after watching this interview this guy speaks normal, bale speaks with a sort of stammer, this guy sounds 100% normal when he speaks
Tony Montana ...I have to disagree, Christian bale was great in the movie BUT, when it comes to an accurate portrayal of this guy, Bale went a little bit overboard ... he made this dude seem like he had some kind of super weird anti-social disorder or something, idk ...
I bet this guy is like, "only batman can play me in a movie!!!"
After watching Christian Bale's portrayal, I immediately thought to myself "I think the guy may have asbergers."
Read more about Burry later, his kid has been diagnosed as having asbergers and Michael himself, after reading the symptoms of it, now wonders himself if he does have it too.
Not that it can't be overcome, but there definitely was the sense of this guy doesn't interact quite like most people and is far and away more focused on what he does than on human interaction. I'm sure you can think of a few people "on the spectrum" you've known in your life who are similar. Maybe not the most socially adept, but they have a laser beam focus on a couple very specific subjects and are amazingly good with them, they can see and pick out things more average people won't when they get so focused.
He made some people 10's of mills and they were still upset w him What an insight to human nature .
Jimmy Mags he probably took a big risk with all their investment. Some people really don’t like that
@@inmate0054 Risks pay out. That’s why it’s called a risk. Get upset when it doesn’t work out...
@@inmate0054 hedge funds make money betting on risks, the people who invested knew their money was at risk
@@alexmurphy5289 Sir I don’t think you have any idea about all of this, with all due respect.
@Edwin Younes You're all missing the point. Burry took a short position of over a billion of his investors' money in what was at the time, the most stable securities on the planet, believing something that had never happened before, would happen.
You can have 100% faith in someone until they do something stupid. Burry was doing something stupid. You people don't understand what hindsight is.
The fact that a man with one eye saw something nearly everyone else couldn’t is just poetic, and his confidence in his trade while investors panicked makes for a story almost too good to be true.
It only takes one to look and actually see something. Many with two eyes weren't looking, and saw what was coming far too late
In the land of the blind the one eyed man is King.
Like Odin who gave up his eye to gain wisdom.
Sounds like Toby from The Office.
Toby sounds and acts more like dr burry than Christian bale does lol
No! No no no! God no!! Noooooooooo!!!!!!
Here because u jst finish watching BIG short
Fuck yeah!
yup.
Nop... this was the first thing I thought of after watching porn!! : P
yep
Yup...
He's a perfect money manager for people that never look at their accounts.
The guy who bought 1.7 million shares on Gamestop with a price between $2 to $5 several years ago. Pure genius.
Not all his bets work out.
@@samsonsoturian6013 the only bet that didn't work was when he shorted Tesla stock to early. He miscalculated the amount of die hard fans Elon could get, and for how much time, before the stock inevitably stumble. He even bought AMC stock and worked.
@@jacobitosuperstar I think he mistimed Tesla shorts, but also may have fundamentally undervalued the company.
@@samsonsoturian6013 No one is always right. The important thing is when someone knows 100% that he has the best hand, he should go all in. He did and won loads of money.
@@duke9815 except he didn't
He sees the world in different angles. Or directions. Or dimensions.
it's funny because it's true!
No, it's much simpler. He just knows the math and looks rationally what it implies even if the whole world says you're wrong.
If you know the math anyone can deduce such things, but if everyone says you're wrong and what you need to do is risk your entire career and all your money, people get insecure and play it safe.
Hell, your reputation alone at risk make people back of. Example of this is Lorentz who actually was first to discover special relativity before Einstein. The difference is that Lorentz thought it was some kind of faulty mathematical magic trick whereas Einstein rationally saw that it was the best description and went on to evolve it into General Relativity.
@@fyradur the economy and the market are never simple
Yeah, it's refereed to "in the spectrum".
Hey your not allowed to post this
Damn big short is a good movie...
U should watch the tv show billions
thanks for the tip! ;)
You could say that again.
It is very entertaining but way of the mark.
The biggest lie in all of this is that the banks are responsible for the overall state of the American economy. The banks had nothing to do with the US economy being outsourced to China.
bighands69 Let me guess... Trump supporter 🙄😒... You're the one way off the mark
Now this guy has so much cred, he can buy a really low stock, announce to the world that he bought it, and make it's price go just from that.
That's illegal
@Inda Now Bingo
The intelligent ones never do that.
The ol' Carl Icahn play book. Even if nothing actually happens in the company operations wise, he makes money by just selling after he announces he bought. Although he only has a limited # of times he can do that if people lose money.
Inda Now it is illegal to manipulate a stick with social media. Elon musk did this in 2018 and was fined 40 million. I think his Twitter got hacked the other day
The investors were upset because Michael Burry refused to let them sell their position at a loss. The investors in turn sued him. Before the lawsuits could make it to court, the investors' position recognized huge gains, and Burry "settled" the case by allowing investors to withdraw their winning investments.
Those investors who were angry even after making tens of millions... Classic example of people who want to be right even if in being right they self destruct.
Do you understand what he did? These people were losing millions for years they had every right to be upset
A dark corner of the modern human condition in the social media age: BE right at all costs, to hell with DOING right
Imagine you're being forced to go bungee jumping. You're deathly scared and you feel like you're going to die if you jump. But the people working there are assuring you that "it's gonna be fine, trust me bro." EXCEPT NO ONE HAS EVER DONE THE JUMP BEFORE. In fact, there's no record of a jump ever being successful at this bungee place.
Regardless of your objections, the staff pushes you anyway and you end up surviving and winning a little prize. Are you happy? Probably more relieved than happy. But also probably mad at the people who pushed you off without your full approval.
Michael Burry might have understood the situation but some of the investors are ignorant of some of the details of this stuff. They were probably confused FOR YEARS. Even Burry was a little confused when the CDOs and bonds weren't decreasing in value when defaults were going up.
I think the problem is deeper, it's not about the money.
He placed a bet against one of the strongest foundations of the American economy - the real estate market.
Which worked for so long, and people simply could not believe that what they had believed in for so long could beat a bubble.
This makes them idiots, and it’s hard to put up with it, even if you made money in the end, and the fact that almost everyone turned out to be idiots, and there is nothing shameful in that. It's not about the money.
@@prokrastinator6648 They weren't idiots... securitization motivated lenders to lend to people that couldn't pay it back. They knew and didn't care because they could immediately bundle bad loans with good loans, creating a "diversified bond", and they'd sell it off by the weekend. It was no longer their problem until they started to fail and became EVERYONE'S problem. The people trading the bonds may not have known, but the lenders knew, and every one of them crossed their fingers and hoped the market would remain stable until they could cash out, knowing it would collapse and they could say "everything was fine when I left folks". They weren't idiots. They were criminals.
As a financial advisor I know how right he is.... you can make people money and they will still be upset... because humans are emotional, irrational creatures to a large extent.
They were upset cos they made money while millions of others lost money and homes...context is important
@@jayakrishnan26 Incorrect. They were upset because they thought the trade was bad and were worried about losing their money, even when they made money they still blamed Barry for causing them such worry.
That's not why they are mad. They are mad because the purpose of funds is to present with a stable, slow growth. This is not their betting money, it's their safe money. Now sure, it turned out that Burry was right, but it was in no way a safe bet, so they were also right to be mad - that's not what they gave him the money to do. Would you ever take all your savings and bet on black? Now imagine if someone took all your savings and did it against your will. I wouldn't care in the least that I happened to double my money, I would want that person's head for daring to do that.
@@oNtuobAwoH How it wasn't a safe bet? If you invest in stocks sometimes they can be manipulated. If how ever you are betting for a bubble to burst that cannot bet manipulated with so much evidence of it's likelihood to happen, then to me that sounds like a pretty safe bet in a finance world. And Burry didn't bet all the liquidity.
THEY ARE GREEDY.
Christian Bale really got a lot of his mannerisms.. that eye is just such a beautiful metaphor for his ability to see what was really happening in the market.
I think Bale overdid it, he made him look way more socially awkward than he actually is
What's most astonishing isn't the fact that he had the foresight to see it coming, and the guts to bet on it. The most astonishing part is he empathizes with those inveators who doubted him so readily.
People with Asperger's eventually learn to behave like that, in order to adjust to a world where they are the minority. We understand that neurotypicals are lemmings spellbound by all the intense, distractive theater that their mutualised emotions keep demanding of them - like a herd being under the influence of hard drugs.
They really can't seem to help it and they have resort to the premise of "empathy" as a group advocacy slogan to cope with the quicksand-like challenges they find themselves falling into. 😊
@@farisha13 in other words, only cash can save misunderstood but this guy is on another level
He kept up on the information, had the patience to look into the details and made a brilliant trade based on his own information. But even he is not infallible, as evidenced by the fact that he sold his positions early at a price lower than they would have been a few months later
@obviously6thbeliever Clearly he was under a great deal of pressure to do so, and there were apparently growing risks that the long position holders were about to fail so hard that they could not meet their obligations. It is complex, but I believe the type of instrument involved may have been lower in obligation priority to fulfill, behind debts to creditors and more senior non-derivative securities of failing companies carrying the obligations. At least in the movie they portrayed angst at the possibility of waiting too long to close the position and getting nothing.
To quote the movie Scarface:
“Don't underestimate the other guy's greed!”
Another Scarface quote that is applicable here: "Every dog has his day."
Michael Burry his success is a example that if you are smart and intelligent, your mind and you heart says it is the right thing to do, you stick to your idea and decision no matter how strong and big the opposition is
The investors who made serious money from Dr. Burry should kiss the ground he walks on. He looked out of the box and beyond to see the opportunity..... He commands forward thinking in modern investing strategy........
NYRM1974 Well, money is not always worth the stress, amd there are set risk limits even for hedgefunds, set strategies etc, o lr at least should be.. investors have various risk appetites.. plus he made them not being able to withdraw their money for years, you see?
Sure with foresight yes but the time his strategy was the equivalent that the sky would fall
He could have invested their money in google, facebook or amazon and made them billions
@@yoyu2567 But his reasoning was there to believe the market was gonna crash, and the only reason he would have failed was because they played it crooked.
This guy sounds exactly like Toby Flenderson
Damn, you are 100% right.
Dude....hahaha
lmao
I hope he lives his best life he really deserves it. Imagine spotting such a big flaw where thousands of other economists or investors couldn't and then betting even betting essentially his future on it. Like watch "The Big Short" if you havn't like really
They all knew it was coming, what was Barnie Franks quote in Jan 2007, oh yeah... "Lets roll the dice one more time"
Try to look at this from a different angle
This guy: got it
Christian bale portrait this guy in "THE BIG SHORT"?
yes
Americans hate being told they’re wrong. Even if you say “Here’s the $400M I made you, but you were wrong.” They will still hate that you brought it up.
I think they're upset bc it was risky and when you have hundreds of thousands/millions in someone else's hands it can be an uncomfortable situation
@@trh616 Nope he is right. Ego is a drug. Its just because they dont wanna be wrong. Likely most of them were already rich so it was more important to be right than getting any richer. It made them feel stupid
Dude, if you look at anything slightly political you'll find most of us refusing to hear anything suggestion there aren't systemic issues.
IT IS CALLED MAGA AND TRUMPISM.
Replace "Americans" with literally anybody. We get it. You hate Americans.
The guy getting interviewed looks like the younger version of the interviewer
As said in a comment above you 6 months ago, well done for copying
@@KD-kl4sx This guy getting interviewed looks like the younger version of the interviewer
All of the elites are related
that feeling you're in a big position going opposite way (but you know you're right) and in the end it goes in your favor, it is more of a relief, the $$$ are a nice bonus though.
Yes poker is like this. It's more of a relief.
Screw all the motivational speakers on social media
All the same blah blah story
This guy is something else
Wow
If you have a movie made after you, you are the sigma trader
Surely years after that he lost lots of money on many shorts but that trade was defiantly the most legendary one we ever saw
You have a really nice haircut, did you do it yourself?
LiamRC I think he goes to Supercuts
That's a nice shirt, do they make it men?
And he knows more than Alan Greenspan . LOL
Crypto buzz well. Dr. Mike Burry! Yes he does...
Supercuts..watch the Big Short
Just finished the big short and here it is, RUclips’s algorithm works more than my jobless ass
Has your ass found it a job yet?
@@benilak yes hamdulillah like 2 weeks after this comment, as construction manager, making 2.5k per month
I mean the investors who got tens of millions probably invested hundreds of millions so they can be pretty stressed cause all that could go entirely if this prediction were to be wrong
You have to be wealthy -- "accredited" -- to be allowed to invest in a hedge fund. I have zero sympathy for wealthy people getting stressed by investing in funds that are by their very nature risky.
Just from hearing a few sentences you realize he is very intelligent. Well done.
What a gem of a recommendation! Finally RUclips’s shows me something Awesome
Crypto user could top 1B by the end of 2023 as nations continue to adopt Bitcoin Buy the dip, and HODLfor the long term .Bitcoin Always comes back.
Investing and trading are more than just having TA skills.there is a big component of discipline and emotional maturity,that one has to work on! Time in the market vs timing the market. If you keep that mentality as an investor, you will stay calm during the storm! Within some months I was making a lot more money and have continued on that same path
How come someone who is just starting out navigate the crypto space ? I don’t have the heart to see the bulk of my portfolio go from green to red.
Impressive can you share more info?
She appears to be well-educated and well-read I ran a google search on her name and came across her website; Thank You for sharing.
You didn’t search for this vid. And they did him dirty in that thumbnail.
Yeah, sure, nobody's watching the Big Short and typing "Micheal Burry" into the search bar, absolutely preposterous
He is a force to be matched: one eye on the money and another eye keepin watch on YOU
I have no idea who he is or what he did but he seems educated
Watch the big short, very interesting stuff man...
Lol thx for recommending us something but it still dosent answer his question
He is an MD who is very smart and used his ability to predict the collapse of the housing market. He created an investment company and made a fortune on betting against the housing market. See the movie "The Big Short" for the details.
Actually, when President Clinton signed the legislation on July 12, 1999 that allowed the kind of mortgage backed securities that caused the recession, it was entirely predictable. For some reason, George Bush gets the blame, but Clinton set the timer on the bomb. The Democrats later said the banks were greedy, but it was the Democrats who demanded the legislation to allow for the banks to be able to do this in order to offer home ownership to more people.
Offering home loans to people with 550 credit scores, 125% loans, no documentation loans, variable rate mortgages was a perfect plan for disaster. I don't know if you remember "DiTech" mortgage. You could make a phone call and get a 125% home loan over the phone in a few days with no verification of income of employment.
DiTech is now bankrupt.
@@Thawhid Lol Neither did you. You didn't even offer a movie to watch. You are a finalist to win the prize for the most useless internet comment ever. Lol.
@@garyK.45ACP are you arrogant or just delusional?
Firstly I didn't even throw a dig at anyone yet your ego wants to create a YT argument. And of course Id comment because I wanted to know the answer, by leaving a comment I'll actually be notified whenever that day comes. I'm not the one making "useless" insults lol
It does not take a genius to figure that out, don't be a negative clown be kind to others even if it's behind a screen bc it's not hard to be
FYI ik you're trolling but grow up yea
When I was deployed to Iraq in 2007, some of the guys were playing around with etrade. I remember one of my buddies bought stock in Chevrolet right before the government bailout and made a shitload of money.
Investors be like, "I didn't want millions of dollars, I just wanted 5% on the dollar..."
I do t remember this scene from the movie but I’d really be interested in seeing the real 60 minutes clip of this interview to see how close Cristian Bale was at playing this guy...
Hahaha Burry acts like he did nothing to upset his investors. They were upset because Burry had assured them that when the loans made in 2005 started to default the value of his swaps would rise. The loans did indeed begin to default but the swaps didn't budge for months, albeit because the market took very long to understand what was going on. When Burry's investors got spooked, he sidepocketed the swaps. That's like saying hey, remember when I said you could have your money back, actually not so much, you can have it back when I feel like it. Of course, Burry was absolutely right and he made his investors an absurd profit, but he failed to appreciate that nobody else understood what he understood.
I agree, that's exactly why they were upset. But still, they used him to make money, and if they would have pulled their money he wouldn't have had the money to afford the premiums and his short would have been voided. I think he was just not communicating clearly enough for the investors to trust his decisions.
No he shot off emails very regularly. It was just the case that the subject matter took weeks of study to really understand. That's why the market took so long to move in Burry's direction, that's why so few people in the world were shorting MBSs. Almost no one understood what was hapenning. Also, all the money he made them beforehand was through trading securities. Now all of a sudden he moved the entire portfolio into shorting bonds that no one else had ever shorted. He literally had to persuade the investment banks to invent this trade. Short of inviting all of his investors to attend a 2 week seminar in Cupertino, he never would have gotten them to calm down.
Eitan Ben Dor He knows why they were upset but anybody who makes millions and is still upset is just dumb, which is why he probably didn't want to try to explain it to the morons to begin with.
Yes, because he overestimated people's intelligence and underestimated his. He couldn't fathom how they couldn't see what was going on.
The investors were just plain dumb in my opinion. They put their trust too much in big banks and the market. It's like they said in the movie, all of this could have been prevented if someone had paid a little bit more attention. The investors should have at least done a little research on their own and tried to understand burry's point of view. If they would have done that and not just written him off as a lunatic they would've known that it was as plain as a day that market was going to collapse no matter what. It was just a matter of time.
OMG this is the real guy from "The Big Short"
Bale's performance was over the top; Burry is nothing like the way he was presented in the film.
+BillyBob Don't you think it's more entertaining that way? They didn't make a documentary, they made a movie.
+BillyBob Of course, its a film everything is dramatized for the entertainment of the viewer. I think they wanted to get across that he is a extremely type A, high functioning individual and likely a genius. The guy started studying economics & the stock market on his own time while attending medical school and successfully predicted and bet against one of the biggest financial crises in history.
+Mark Sesum He never really got the headlines as you put it, what he got was the FBI on his tail several times... most people know this guy because of the movie, which is totally wrong... You don't really sound like you know a lot about him neither... nor do you even sound like you know how he came across all those investor funds.
Yeah, on some level I'd guess Bale said "Asperger's huh? Say no more!" and pulled out the stereotypical autistic genius performance we've all seen a million times.
I agree. made him look like a fucking loser. he's just a normal huy
Imagine having this guy as your mentor... you’ll learn the drums and make a lot of money!
The ultimate “YOLO”
The folks who claim to still be upset are really just the folks who can never admit they were wrong.
They picked the worst thumbnail
“Cha duuude” - How I see the thumbnail lol
Def
The editor probably lost his house in '08.
gotta say: although Christian Bale put his own drive on the guy - which obviously is a theatrical tool, to really emphasize character traits - he did amazing on this job.
Tbh if I was an investor, I'd take the ten million he made me, and then never give Michael Barry my money again. It only makes sense to give a fund your money to minimize the risk. I didn't come here to 'bet'.
Moin facts
It wasn't a bet, he went through the contents of the bonds and realised it was all shit. It was an inevitability not a bet, that's the whole point. Ffs
Hedge funds are all bets fool
They guy is no gambler. He’s a mathematician and a doctor. He saw the numbers. Numbers do not lie. If anything I’d trust him again.
@@Hitesh-fw6nj Well they didn't know that, and wasn't educated enough to understand it even if he explained it. Kind of why they put their money in his hands in the first place, and his promise was to invest it safely. He sold all assets to pay for the informed bet, leaving the investors in the dark. I would've been pissed, and I think you would too. It ended well but they didn't know if it was a safe bet even after they won. They didn't even know if what he did was legal.
This guy is a genius and realized that the subprime market would crater before hedge fund manager John Paulson did.
*everyone talking about Bale and “big short”*
*Me who got this randomly recommended*
I feel you. Literally now idea what is going on
I need a sleep core Burry playlist
This guy played Christian Bale pretty well!
I also made money for some Canadian friends here in Canada. I bet against the Canadian loonie when the oil hit 120$ per barrel back in 2008. Burry also knows that the price of OIL was were the bailouts from these banks were being invested in to cover their balance sheets. The money I made allowed me to buy a new car, I took some friends money and we exchanged our money to US funds when the loonie hit 1.02 parity over. We then waited for the mess to settle and exchanged back at 68 cents. I did not charge them anything except to keep their mouth shut about it. This was also going on in the Stock Market at that time, I notice massive amounts of currency exchanges going on and figured someone was shorting the exchanges doing high frequency money exchanges. I bet most of my savings and made money back for a new vehicle which I still have.
Loonie?
@@Wafaloo 😂We don’t say Canadian dollar we say loonie 😂. Many people here lost their entire savings, jobs, houses, cars, and most of their toys and many had to move in with their parents. We moved into a new bigger house when the housing collapsed here so the house is now triple the value we paid ( all paid off) in 2010 one year after we bought it. What I did was not illegal it was just watch the massive currency trades going on, Bury here does not mention the 120$ barrel oil price that was the main fuel that was driving the subprime mortgages. That’s where all the private ninja and junk loans money was coming from to loan out, oil stocks swaps.
85% of his portfolio is SENS now. Predicted to hit $450 by 2022
Any source or coming out of your ass?
Investors were not angry that not only they believed the trade was wrong, the main problem is he pulled his other positions to place more on his short via cdos & cds’s on the housing market. Hence having no diversity, sofisticated investors who place there money in funds such as burrys are not looking to make a great deal of money if having to risk everything. They are looking to make great returns on a risk adjusted basis. What burry did is what an Angel investor,venture capitalist, would do is make large bets without any hedge. I still love burry, just believe maybe his terms of his funds should have been established that not only he had control to take any position or direction with the funds (which he did establish), but also the possibility of no diversification or hedge if sought reasonable.
That last part ^ would have made his fund 1/4 the size it was, but in long term after housing collapse , investors would have piled in and I see no reason why he would not be managing a 10+ billion dollar fund today
The man the myth the legend. Funny how he did this 13yrs ago and the film releases 6 yrs ago and it is already happening again, with same old stupidity of the people
That giggle at the end by the interviewer, just couldn't hold back his laughter at his eyeballs.
Its a glass eye stupid. He only has 1 eye
You could say he has an eye for this sort of thing.
So, you go to your broker and buy some stocks of msft and amzn, and 2 months later you think you might have made the wrong decision, so you want to sell your shares, and your broker says "nope, can't let you do that, we need your money right now. Piss off, I'll get back to you later." That's what Michael Burry did.
I’ll get back to you later with millions !! Yeah what a threatening statement
Not the same, he wasn't their stock broker he was a hedge fund manager.
Damn Christian Bale nailed this impersonation 🤭
No he didn’t lmao
He sounds nothing like I would expect him to sound
Yeah quite high pitch for a guy that looks mainly. Kinda like Tyson voice doesn’t match how intimidating he looks in person.
That’s because Christian bale made him sound like a social awkward weirdo in the film.
Is this an interview, or just echo?
You invested a lot of money,
Yes, we invested a lot of money
you must have been very confident.
Yes I was very confident on the outcome.
So you made a lot of money.
Yes I made a lot of money
So your clients were grateful.
Yes, my clients were grateful
he has aspergers.
He was probably nervous, a lot of very smart people are like that.
I can understand being upset despise having earned a lot from it. Shorting doesn't necessarily make one money even if the underlying assumption is correct
Exactly. Your thesis has to be right, AND your timing has to be right.
Dude’s a financial genius. Period.
he looked his investors in the eyes and said everything will be ok while having the other eye on the future.
If the investors are pissed off he could just give them back their money (principal)with bank interest.
The swap contracts had covenant terms that required a minimum amount in the fund. If he gave their money back before the time, the contracts were voided.
@@lucasmso Thank you for your reply and that info. I did not know that.
@@lucasmso Burry had some big balls for setting up that trade. Even if I believed I was right I don't think I'd ever think I was that right.
@@mikesiley4897 that's the differences between a genius with guts and a regular investor.
I would be upset too ..it's like you are sitting in a car and driver is driving at 180KMH but he reaches the destination safely and saves u some time ..but the experience would be so traumatic and besides margin for error is very low ..if one small mistake accident will happen and it will result in death.
Christian Bale looks a bit different in this interview
The You tube comment section really is an incredible place. Where else could you go to find World class experts in every field of life? From people who go on Maths, computer and science channels to tell professors that the video they made about their specialist subject is wrong to the people that can be confronted with a video explaining a problem that World leaders in the field are struggling with only for a random person in the comments telling them the problem is actually pretty straightforward and easy to solve.
Why, even here we are lucky to be granted the wisdom of financial geniuses that knew the crash of 2008 was inevitable and obvious. We are lucky to be living in a time when such incredible intellects are able to find the time in their busy lives to provide us with their insights and teachings.
It's not lazy, it's glass. He lost it to cancer as a kid. Just a pure genius.
Phillyfan320
So it's a glass eye and not a lazy eye
Steve Keen attempted this in the Australian Housing market 15 years ago. He is still waiting, all lonely by himself.
This guy is such a boss even when he’s looking a way he’s still looking at you
‘’Dumb shit young guys say’’ lmao
@@steverogers7601 what?
You know a lot of people won’t say this but I genuinely think he single-handedly caused the housing crisis in a crazy way I mean he says that he shorted 8 billion, what you think was gonna happen? That kind of movement is bound to cause some kind of negative speculation. Okay, he might not have caused it, but it didn’t help.
So he made 10% on 7 billion, interesting.
he bet too early, lost a lot of money in the beginning
CHRIS JOHN BEATS id say he did pretty good
The real money (cash) necessary to make the trade was much less than 7 billion. Look up buying a PUT option on a stock for similar costs.
Was paying $90m monthly premiums I believe to keep the bet in play
@@Itsalljustjokes Yeah anything over 3:1 leverage is extremely dangerous. I can see why investors left.
How dare you make me a lot of money! Hahahhaha😂😂😂
8,4/20x(cds) = 420 mil $ bet
420*7% = 29,4 mil $ annual payments
2years *29,4 = 60 mil $
He seems relatively humble about it all. Good for him, but that couldn’t be me. If I had people calling me an idiot for years after showing them the reasons why I had this theory, and then I was proven right in the end, the level of pettiness I would exude over them would be astronomical. ESPECIALLY after they wouldn’t just admit they were wrong. I’m talking calling them in the middle of the night to simply laugh over the phone at them level of pettiness.
So glad I randomly came across the movie The Big Short. What a great movie and I learned quite a bit about the market crash that I didn't know before. Definitely recommend to anyone who hasn't seen the movie yet to watch it. Especially with the way this world is now there's no telling when it'll happen again
This guy beat all the big banks and the government !!!! Crazy
God damn.... you’re playing with death betting that much money
Guy has a 360 view how do you expect him to miss out on this
The people who were still mad at him and withdrew must have enormous egos if 10s of millions isn't enough money for them to go "ok I was wrong".
Making millions off the suffering of millions would have me feeling some type of way too. Somethings just arent worth the price
@@donsolos The millions they made were from shorting Goldman Sachs and JP Morgan
got one eye on the interviewer and one on the markets.
Now he’s shorting Tesla stock, lol
He’s in over his head 🤦♂️
@@tonylee9840 that’s what they said the last time.
Yup lol
Worked out pretty well for him.
Perhaps the reason the investors were upset was not because he made them money, but because of how they felt he treated them during this process. If I was an investor that had millions locked up in some crazy scheme, I don’t think I would have been too happy either. Just because the outcome was good doesn’t necessarily mean the process was good.
Upset investors are the one's who praise money like it's their God.
CBS had to choose that thumbnail out of the thousands of frames. Nice
is it just me or does this guy sound exactly like Toby from The Office?
Clients that made 10’s of millions of dollars and still very upset will always be upset no matter what happens for the rest of there lives
Cognitive dissonance is bitch. Virtually not a single "That's why I invested in you Dr. Burry, Thank You".
Burry took them on a 2-year ride of uncertainty and anxiety as he betted their money against the moon falling from the sky. All while paying hefty premiums for every month it didn't. The fund nearly ran out because of those premiums and the fact that Burry hadn't anticipated it would take months before markets started to realize what was happening.
Yeah, he made them a lot of money. But look at it from the perspective of these investors who didn't have the luxury of hindsight yet - they thought Burry was simultaneously insane *and* *extremely, massively* lucky he just happened to bet on the one extremely unlikely thing that actually happened. I'd've withdrawn my money too.
Pieter-Jan It's not luck, considering that he did a throughout investigation and had a reasonable hypothesis supported by data that he has looked at. It's like saying that it's just pure massive luck to bet against a horse that you have examined yourself and found to have an aneurysm that will burst next time it runs.
@Joe Ch: you missed the part where I said "look at it from the perspective of these investors". Burry was a terrible communicator, he never convincingly explained the reasoning behind his decisions.
Hes going nuts with gamestop shares and stock options. Been playing it too making a few bills here and there