Michael Lewis has long been my favorite author. Starting with Liar's Poker (an insider's look at 1980's Wall St.) and continuing through The Blind Side (a story with special significance to Memphis), he is always able to put a human face on complex topics. So, it is with great anticipation that I look forward to reading his new book: The Big Short: Inside the Doomsday Machine. The book is a truth-is-stranger-than-fiction account of how the U.S. economy was driven over the cliff as only Michael Lewis could tell it.
60 Minutes recently did a segment on Michael Lewis and his new book. He does a great job explaining the inner workings of the credit crisis, as well as expressing the outrage that we all feel towards Wall St., regulators, politicians, and the like. The two-part interview is below:
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For what it's worth, we invested on behalf of some of our clients with Michael Burry (featured in the interview and the book) from 2003 till he closed his fund in 2008, and we were always enthusiastic and supportive of his strategies.