The Big Short: Inside the Doomsday Machine
By Michael Lewis
W.W. Norton; 288 pages
Steve Eisman knew that calamity would eventually come. The hedge-fund manager bet big against the subprime-mortgage market and won. So did Mike Burry, a social recluse who began investing at night during his medical residency. Jamie Mai and Charlie Ledley, two 30-somethings who started trading in a Berkeley garage, "assumed that there was some grownup in charge of the financial system." There wasn't. In The Big Short, Michael Lewis, who chronicled an earlier era of Wall Street excess in 1989's Liar's Poker, tells the story of investors...
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