Gustavo Ballvé on April 4th, 2010
Food for thought, Home, Mental models, Portfolio Management, Risk management

Update (April 6th, 2010): Please see inside for Mike Burry’s op-ed in the New York Times ranting on the Fed (Greenspan specifically) for not seeing the crisis develop.

On tour to promote his book “The Big Short“, Michael Lewis interviews have been popping up all over the Internet. You can find some of the best inside. Required reading is this excerpt from the book at Vanity Fair’s website. Great stuff, we especially liked this bit: “I hated discussing ideas with investors,” (Mike Burry said), “because I then become a Defender of the Idea, and that influences your thought process. Once you became an idea’s defender, you had a harder time changing your mind about it.”

Have a great Easter Sunday!

UPDATE: Mike Burry wrote an op-ed in the New York Times recently on how he saw the crisis and why the Fed should have seen it too. We especially like this bit: “I demanded daily collateral settlement — if positions moved in our favor, I wanted cash posted to our account the next day. This was something I knew that Goldman Sachs and other derivatives dealers did not demand of AAA-rated A.I.G.”.  Not only did he get the intellectual challenge right, but he also followed through quite well in terms of execution. Impressive enough, and all by himself.


Bloomberg Television interview (42:37):

CBS’ 60 Minutes segments:

– Inside the collapse, part 1:

Watch CBS News Videos Online

– Inside the collapse, part 2:

Watch CBS News Videos Online

– Wall Street misfit (on Mike Burry):

Watch CBS News Videos Online

– The $8.4 Bi bet:

Watch CBS News Videos Online

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