Michael Burry Speaks
Against the Rules: The Big Short Companion
Pushkin Industries
4.6 • 9.8K Ratings
🗓️ 2 December 2025
⏱️ 40 minutes
🧾️ Download transcript
Summary
Of all the characters in The Big Short, fund manager Michael Burry (depicted by Christian Bale in the movie version) seemed the least likely to grant Michael Lewis a follow-up interview. Burry was one of the first to see the subprime housing market crisis coming, and he actually helped Wall Street banks develop the credit-default swap, the instrument that allowed short sellers to make their bets against the market. Lately, Burry has been in the news again because his fund has taken short positions against tech giants Nvidia and Palantir. Now he finally sits down with Lewis as part of this series.
Burry recently launched a newsletter called Cassandra Unchained.
Order The Big Short audiobook, now narrated by Michael Lewis, on Audible, Spotify, pushkin.fm/bigshort or wherever you get audiobooks.
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Transcript
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| 0:00.0 | This is an I-Heart podcast. |
| 0:02.6 | Guaranteed Human. |
| 0:04.6 | Hello, Pablo Torre here, host the Murrow Award winning, and Peabody-nominated show Pablo |
| 0:09.3 | Tore finds out from The Athletic, where we use journalism to investigate mysteries, like whether |
| 0:15.4 | the richest owner in sports helped fund a no-show job for his NBA superstar. |
| 0:20.0 | In other words, Quay Leonard got from aspiration a $28 million no-show job for his NBA superstar. In other words, |
| 0:25.3 | Kwai Leonard got from Aspiration a $28 million no-show job. |
| 0:26.8 | Yeah, it's amazing. |
| 0:28.2 | I'm honestly so jealous. |
| 0:33.1 | Or how our friend Action Bronson feels about covering his caps. |
| 0:35.0 | When was the last time you wore pants? |
| 0:38.5 | I don't, probably 15 to 20 years. |
| 0:41.5 | The last time I put pants on had an accident. |
| 0:46.8 | Three times a week, follow us down the rabbit hole on Pablo Torre finds out. |
| 0:50.1 | Watch on YouTube or listen wherever you get your podcasts. Okay. Pushkin. |
| 1:03.7 | I'm Lydia Dean Cott. |
| 1:07.1 | I'm Michael Lewis. |
| 1:08.5 | And surprise, we're here for an extra episode of the Big Short |
| 1:12.8 | Companion Series. One we weren't expecting. That's right. Yeah, because we got the hedge fund manager |
| 1:17.7 | Michael Berry to be on the podcast. We didn't really get him to be on the podcast. It's funny what |
| 1:23.3 | happened. Well, first we should say who Michael Berry is. Michael Berry is one of the three main |
| 1:28.2 | characters in both the book and the movie of The Big Short. And he was a really important character to me. And in the movie, he's played by Christian Bale. And in the movie, he's played by Christian Bale. He doesn't do interviews. And we've asked him to be on the podcast earlier. And he said, know. So yeah, so what happened? First he said, you know, I'd like to help. And then he said, |
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