The Big Short Guy just bet 1.6 billion the Stock Market will crash Episode 1043
The Todd Herman Show
Radio America
4.8 • 1.5K Ratings
🗓️ 25 August 2023
⏱️ 75 minutes
🧾️ Download transcript
Summary
Zack Abraham, chief investment officer at Bulwark Capital, joins us. We discuss the man who was made famous for the “Big Short” movie and how he has bet 1.6 billion dollars that the stock market will crash. It is a huge bet, but as Wall Street types always do, it’s not actually money he’s betting. Zach also shares some brutal truths about what Blackrock and Vanguard people tend to be like and I share with Zach my sense that those mobbed-up banks seem to be suckering the little guys to go all in on the sugar high economy.
What does God’s Word say?
Proverbs 13:11
11 Dishonest money dwindles away, but whoever gathers money little by little makes it grow.
Ecclesiastes 5:10
10 Whoever loves money never has enough; whoever loves wealth is never satisfied with their income. This too is meaningless.
Luke 12:15
15 Then he said to them, “Watch out! Be on your guard against all kinds of greed; life does not consist in an abundance of possessions.”
Hebrews 13:5
5 Keep your lives free from the love of money and be content with what you have, because God has said, “Never will I leave you; never will I forsake you.”
Episode 1,043 Links:
The Big Short film - language warning!
'The Big Short' Explained
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Transcript
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| 0:00.0 | In this scene from the movie The Big Short, 2015 Christian Bale plays Michael Burry, the |
| 0:07.0 | investor who placed the biggest bet on the housing market crashing. |
| 0:12.7 | And he wants his money, he wants his reports from the big banks. |
| 0:16.1 | He took short positions on their stocks, meaning he bet that they were going to fumble, |
| 0:21.3 | that they were going to fail on this. |
| 0:24.0 | And he just couldn't get any phone calls back from him as the market was crashing. |
| 0:28.8 | And his investment was becoming huge in payoff, billions and billions and billions huge. |
| 0:34.4 | You can't call me back for a week. |
| 0:39.1 | I'm so sorry, Mike. |
| 0:41.1 | Goldman had a system failure, I lost a ton of messages. |
| 0:44.7 | Yeah, V of A said they had a power out, as Morgan Stanley said, a serve of crash. |
| 0:48.9 | Huh. |
| 0:49.9 | Weird. |
| 0:50.9 | No, I would call it improbable. |
| 0:55.0 | Where do you have our position, Mark? |
| 0:58.4 | I think it's the same, Mike. |
| 1:00.4 | What? |
| 1:01.4 | Can you explain that to me, please? |
| 1:03.4 | How can the value of an insurance contract not be affected by the demise of the very thing |
| 1:08.8 | it ensures? |
| 1:09.8 | They're independent markets, they're not always correlated. |
| 1:12.8 | I know it sounds odd, but these are very complicated products. |
... |
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