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Animal Spirits Podcast

Re-Kindled: The Big Short (EP.80)

Animal Spirits Podcast

The Compound

Business News, Business, Investing, News

4.72.1K Ratings

🗓️ 6 May 2019

⏱️ 36 minutes

🧾️ Download transcript

Summary

Re-Kindled is a show where Michael and Ben discuss some of the best finance books ever written. On this episode, they dig into The Big Short by Michael Lewis to talk about the lessons of the financial crisis from the banks to the subprime mortgage markets to those select few who made tons of money shorting the housing market. Find complete shownotes on our blogs... Ben Carlson’s A Wealth of Common Sense Michael Batnick’s The Irrelevant Investor Like us on Facebook And feel free to shoot us an email at animalspiritspod@gmail.com with any feedback, questions, recommendations, or ideas for future topics of conversation. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

So it is crazy that nobody went to jail for this. I was like riveted by this the second time around which is kind of hard to do for a finance book I think.

0:08.6

Dude you owe us 1.2 billion dollars. Welcome to Rekindled with Michael and Ben.

0:18.0

We had our heart set on calling this podcast turn the page but at the 11th hour somebody came

0:25.1

in with rekindled and I mean it's just obvious in my and in both of our opinions it

0:30.2

was perfect and I'm a Kindle reader, so I, it was just, yes, the perfect name, it rolls off the tongue better, so we made a last minute audible.

0:38.0

And on this first episode, my idea was to reread the big short because when I read it the first time I was blown away and it's been I guess 10 years or so since it came out and on the reread

0:52.4

It almost became apparent this is the goat for finance books is it not I mean this is the

0:58.3

finance book of all time hold on a minute like the best book about money ever written, is that what you're saying?

1:06.0

The most readable book on finance, how about that?

1:09.0

So this is my re-re-rereadable, because I went through this book a second time while I was writing my book

1:16.2

and I was looking for stuff about Joel Greenblen I think what you took me off to and I

1:20.8

actually ended up not using it for the book. But so Money Ball was written or published in 2003.

1:28.6

The Blind Side came out in 2006 and this book came out in 2010. But do think I mean this was the book that made him world famous was it not

1:37.1

Moneyball to a certain extent later I think but this one probably

1:41.4

Yes, I think a lot of people probably don't even realize he made the blind side because they

1:44.6

probably just equate that to like the Sandra Bullock movie but in terms of

1:47.9

finance circles I mean this is this is the greatest book written about the financial

1:51.6

crisis and it's not even close.

1:53.0

How's that? Right? I mean I was like riveted by this the second time around which is kind of

1:59.0

hard to do for a finance book I think. Have you read too big to fail? No, it was like 800 pages. Neither have I. Have you read

2:05.9

Did you read Bethany and Jonah Sarah's book? All the devils were here? No. So are you saying that my sample size is too small?

2:13.1

I'm just saying.

...

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