The Big Short – Three separate but parallel stories of the
mid 2000s mortgage housing crisis in the US are told. It’s 2005. Eccentric
ex-physician turned one-eyed Scion Capital hedge fund manager Michael Burry,
who tosses traditional office attire for shorts, bare feet and a Supercuts
haircut, believes, based on research, that the US housing market is built on a
bubble that will burst within the next few years. Having autonomy within the
company to do largely as he pleases, Michael proceeds to bet against the
housing market with the banks, who are more than happy to accept his proposal
for something that has never happened in American history, they believing in
the process that Michael is a crackpot and they are a sure very lucrative
winner in the deal. Jared Vennett with Deutschebank gets wind of what Burry is
doing and, as an investor himself, believes he too can cash in on Burry’s
beliefs. An errant telephone call to FrontPoint Partners gets this information
into the hands of Mark Baum, an …
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