About Me

I ramble about a number of things - but travel experiences, movies and music feature prominently. See my label cloud for a better idea. All comnments and opinions on this blog are my own, and do not in any way reflect the opinions/position of my employer (past/current/future).

26 March 2016

Movie: The Big Short

The Big Short is somewhat like a re-enactment movie from the History Channel - with a bit less voice over, way better acting and arguably far more informative. Charting the path of three groups of investors who went against the established understanding of the US housing market - it is probably the most easily communicated story on the 2007 financial crisis. 

The negativity and the derision received by the three groups is in itself enlightening - how people in general do not like to hear contrarian positions; and how difficult it is to motivate contrarian positions. In addition, the story makes a very pointed link that the financial crisis was not just as a result of people who did not pay careful attention - but rather, that the position was a direct result of fraud and abuse of insider knowledge. 

And most worryingly, because the underlying cause of the 2007 meltdown was not really addressed - it is likely to occur again.

No comments: