Sunday, August 3, 2014

Reading The Big Short by Michael Lewis this summer, 2014. An explanation of the subprime problem and the housing bubble several years ago.


So this summer 2014, living a Travelife, I've been reading a couple of books I should have read a long time ago.

There's not much time for anything when you're catching planes and traveling to pretty amazing places all the time. If I have any free time at all, I'm online -- writing, or posting photos on Facebook, Instagram, Twitter and Pinterest.

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Scroll down to read about how a financial analyst told a Japanese company president that his financial report was basically toilet paper...



TALK ABOUT ENGROSSING

One of the books I just can't put down is actually a pretty old one.

It was released in 2010 and I should have read it then. It's been by my night table since it came out, but I didn't have time to even open it until this summer.

What an interesting book this is.

LIAR'S POKER, FLASH BOYS 
AND OTHER BOOKS BY MICHAEL LEWIS



Very well written, The Big Short is a non-fiction book written by successful author Michael Lewis, who spent three years at a high-paying job in Wall Street, with Salomon Brothers.

He didn't really like what he saw when he was working in Wall Street, so he left and went on to write a book about it.

His most famous book so far is his first book, called Liar's Poker. It's amazingly funny, especially if you're familiar with the finance industry. This 2014, he's just released a book called Flash Boys, again about Wall Street.

THE BIG SHORT
BY MICHAEL LEWIS


The Big Short describes and explains the subprime issue and the housing bubble in the United States a few years ago.

For quite a complicated topic, this book is engaging and easy to understand.

Also, Michael Lewis deftly handles the subprime issue -- a subject matter that can easily potentially put people to sleep, by the way -- so well that you're being entertained and you don't realise you've just read a textbook on economics.

Scroll down to read more...



THE CHARACTERS 
IN THE WORLD OF FINANCE 

It's also full of very descriptive anecdotes on some of the major characters involved somehow in these issues -- and the way he writes about these people is just so good.

In fact, I read another chapter today, and I couldn't stop laughing when I was reading his account about how some Wall Street master of the universe had told a company president to his face that his report was the equivalent of toilet paper.

It was close to an eruption of World War III after that, according to a witness at the scene.


I know a couple of such masters of the universe.

They're really strong characters -- for better or for worse -- but they certainly make everything way more interesting, in my never-ending, and never-endingly eventful Travelife.





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