MGSC12H3 Lecture Notes - Lecture 7: Michael Burry, Steve Eisman, Ryan Gosling

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20 Feb 2017
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Christian bale (burry: credit defaut swaps. Larger side bets are great when shes winning, when she loses, market fails. Increasingly larger side bets set off the dominant effect on the market. Ryan gosling - jenga tower: def of a traunche, explains mortgage backed securities, top of the tower is dependent on the bottom, top rates only possible is lower rated are stable. Michael burry, ii) mark baum, iii) charlie geller and jamie shipley. Prominent: able to use connections, use ben as a sme, money driven. Dr burry: antisocial, firm in a subtle way, asbergers syndrome. Lack of emotional connection: wants to find the facts. Asked for research in the nature of the securities. Willing to take a desperate measure, prevented ppl from withdrawing. Mark baum: willingness to find the facts. Sent team to investigate: assertive, risk taking. Staff wanted to bail out before he did. Risk that the firms who were going to pay would default.

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