tisdag 16 mars 2010

Author Michael Lewis On Wall St's Delusion

Min sammanfattning :
- Incentives motivates behaviour
- In Wall Street making misstakes is a sure way to make money
- Not following the herd can at times pay back big time

If you had to pick someone to write the autopsy report on the Wall Street financial collapse 18 months ago, you couldn't do any better than Michael Lewis. He is one of the country's preeminent non-fiction writers with a knack for turning complicated, mind numbing material into fascinating yarns. He wrote his first bestseller, "Liar's Poker," about his experiences as a young Wall Street bond trader when he was still in his 20s and has since followed up with seven more bestsellers on subjects ranging from Silicon Valley in "The New New Thing" to big time sports in "Money Ball" and "The Blind Side." His new book, called "The Big Short: Inside the Doomsday Machine," comes out later this week and it explains how some of Wall Street's finest minds managed to destroy $1.75 trillion of wealth in the subprime mortgage markets. "60 Minutes" and correspondent Steve Kroft spent two days debriefing Lewis at his home in California.

Inside The Collapse, Part 1

Inside The Collapse, Part 2

Extra: Wall Street Misfit
How being a high school oddball made Michael Burry tens of millions

Extra: The $8.4 Billion Bet
Wall Street outsider Michael Burry bet against the market and won... big time!

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