If you ever wanted to know the reasons of Financial Crisis which happened in 2008, this is the best book which you could look for.
The Big Short describes several of the key players in the creation of the credit default swap market that sought to bet against the collateralize debt obligation (CDO) bubble and thus ended up profiting from the financial crisis of 2008. Yes you got it right and be ready as many such technical terms and financial concepts are going to get discussed when you start reading this book. Since I read this book after watching the movie directed by Adam McKay titled The Big Short, understanding such technical terms and concepts was a lot easier for me. This book tells the entire story behind the financial crisis through the eyes of three hedge fund managers and a Deutsche Bank salesperson. All these people were among the first to see the fraud behind the subprime fiasco and eventually leading to betting against the big Wall Street firms.
The book contains great content and is very well organised. Kudos for that to Michael Lewis. He has done a great job in describing this entire financial fiasco. This book had such a great impact that I started looking at more places to know more about this financial crisis. Definitely a must read book which makes it clear that even the white collar people should not be trusted blindly.
However, what I don't like is that the book covered only the aspects which were important or you can say critical for our three hedge fund managers. Since the book has been subtitled as "Inside the doomsday machine", it could have been great if government's as well as Wall Street firm's perspective were taken into account. Also, unlike the beginning and the end which were great, the middle section of the book was not that great.
But as a package this is a great and must read book if you want to know some inside facts that lead behind the financial crisis. I would rate it at 4 out of 5 stars. I personally liked the book a lot. There is a great video uploaded on Jonathan Jarvis's youtube channel which summarizes the entire financial crisis situation. I will link the video down below at the end of this thread. I will also leave a link down to amazon if you want to buy the book.
Buy the book from here:
India: The Big Short by Michael Lewis
Outside India: The Big Short by Michael Lewis
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CIAO.
The Big Short - Michael Lewis
Reviewed by Sushant Sawant
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Reviewed by Sushant Sawant
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