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Thursday, March 17, 2011

An Insight into something Interesting

If you are anything like me you have an incessant need to understand why and how things happen. Ever since the financial meltdown of 2008 I was curious as to how such a thing could come to pass. Of course the easy answer is 'greed' but I already knew that. I wanted to know exactly what happened and how. Fortunately I found a great book on the subject: The Big Short by Michael Lewis.
It goes into great detail about how the entire subprime mortgage situation came about in Wall Street and how those that saw what was coming were able to profit off one of the largest financial collapses in history. I really enjoyed reading this because the author doesn't leave any detail out; I found myself re-reading sentences many times just to understand their underlying financial meaning. Of course it doesn't hurt that the author was once a Wall Street yuppie that has since reformed. I plan on checking out his other works on the subject. Many times I find books like this more entertaining than fiction, since everything actually happened. If you are at all interested in what happened on Wall Street in the years and months leading up to the collapse, then this is a great learning opportunity.

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