Mr. "Big Short" Bury takes on Goldman Sachs

Financier Michael Burry became a household name after the 2015 film The Big Short, which chronicled his bet on the subprime bust that sparked the 2008 financial crisis.

What most people tend to forget is that on the other side of Burry’s CDO bet was Goldman Sachs in particular (GS) . CDOs are loans, mortgages and other assets that investment banks package and offer to institutional investors

In the book “The Big Short: Inside the Doomsday Machine” by Michael Lewis, it is said that Bury decided to bet on the implosion of the subprime market after noticing that many people could not actually afford to pay their mortgages. But lenders were finding new financial instruments to justify providing new money.

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