It's only a matter of time before someone else sees this investment. We have to act now....
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Quote
Michael Burry:
It's only a matter of time before someone else sees this investment. We have to act now.
Lawrence Fields:
And how do you know these bonds are built on subprime crap? Aren't they filled with hundreds of pages of mortgages?
Michael Burry:
I read them.
Lawrence Fields:
You read them? No one reads them. Only the lawyers who put them together read them.
Michael Burry:
I don't think they even know what they made. The whole housing market is propped up on these bad loans. It's a time bomb, and I want to short it.
Lawrence Fields:
Through what instrument, Michael? There are no insurance contracts or options for mortgage bonds! The bonds are too stable. No one would buy them.
Michael Burry:
I'm going to get a bank to make me one. Then I'm going to buy a ton of them.
Transcript
00:00:01.000 --> 00:00:03.336
It's only a matter of time before someone else sees this investment
00:00:03.419 --> 00:00:05.129
We have to act now BANGING TABLE
00:00:05.212 --> 00:00:07.465
How do you know the bonds are worthless
00:00:07.548 --> 00:00:09.759
Aren't they filled with fucking thousands
00:00:09.842 --> 00:00:10.968
of pages of mortgages
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I read them
00:00:13.387 --> 00:00:15.306
You read them I read Yes
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No one reads them Only the lawyers who put them together read them
00:00:18.684 --> 00:00:23.397
Look I don't think that they even know what they've made
00:00:23.522 --> 00:00:26.776
The housing market is propped up on these
00:00:27.001 --> 00:00:29.737
bad loans and I'm SIGHS
00:00:29.082 --> 00:00:31.864
It's a time bomb and I want to short it
00:00:31.947 --> 00:00:34.241
Through what instrument Michael
Clip duration: 35 seconds
Views: 230
Timestamp in movie: 00h 14m 54s
Uploaded: 19 March, 2022
Genres: comedy, drama
Summary: The men who made millions from a global economic meltdown.
Comments
Actors
00:08 Our investment strategy was simple
00:13 MIKE Lawrence I found something really interesting
00:22 How big is your short position right now
00:14 Trust me I'm not driving a 7 Series without strippers
00:03 I love my job
00:34 Jared it's chaos down here Where are we
00:17 100 million Who are you a drug dealer or a banker
00:23 We have no confidence in your ability to identify
00:20 Michael TAPPING
00:12 Now their foot's on fire they think
00:14 Thanks for coming guys
00:16 You smell that What is that
00:15 We have talked about this numerous times
00:29 Did you get a chance to look at what we sent you Ben
00:13 On the outcome of their bet
00:36 PORTER It's right behind you
00:07 They are correlated
00:08 I'm telling you your bet is against dumb money
00:14 MARK CLEARS THROAT
00:22 I told her we're not selling shit