Key Facts or Insights from "The Big Short - Inside the Doomsday Machine"
- The book delves into the 2008 financial crisis and the few who saw it coming.
- The crisis was largely caused by the creation and sale of subprime mortgage-backed securities.
- Most of Wall Street, including high-ranking executives, either didn't understand the risk they were taking on or chose to ignore it.
- Several outsiders and mavericks, however, did foresee the collapse and made enormous profits by betting against the market.
- The book explores the complex financial instruments like collateralized debt obligations (CDOs) and credit default swaps (CDOs).
- Regulators...
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