Tuesday, March 21, 2023
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Mr. ‘Massive Quick’ Burry Takes on Goldman Sachs


Financier Michael Burry turned a family title after the 2015 movie “The Massive Quick” which depicted his wager on the subprime-mortgage meltdown that sparked the 2008 monetary disaster. 

What most individuals are likely to neglect is that on the opposite facet of the the mortgage collateralized debt obligations (CDOs)’ wager made by Burry there was notably Goldman Sachs  (GS) . CDOs are loans, mortgages and different belongings that funding banks package deal and supply to institutional traders

Within the e book “The Massive Quick: Contained in the Doomsday Machine” from Michael Lewis, it is mentioned that Burry determined to wager on the implosion of the subprime market after he seen that lots of people couldn’t really afford to pay their mortgages. However lenders had been discovering new monetary devices to justify handing them new cash. 




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