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Message
I hated The Big Short - spoilers
Posted on 3/16/16 at 6:21 pm
Posted on 3/16/16 at 6:21 pm
I am a finance guy. I have a lot of letters behind my name, so I understood the financial aspect. I already had a very good understanding from the book The Greatest Trade Ever Made, which focused mainly on John Paulson, who made $15B for his fund betting against the mortgage-backed securities.
What I hated about this movie was all of the investors who were right and made a lot of money were all sad and seemingly embarrassed about profiting off of their ideas and conviction. I don't understand that at all. It pissed me off so much. These guys emerged victorious yet the end of the movie had this very somber tone.
And there was no comeuppance for the many investors who doubted Michael Burry, especially the one guy we see him interact with a few times and who demanded his money back. At least give us something for having to sit through that. Show him pissed off at having pulled his money and lost out on a gain of 489% (less the losses realized in previous years - some of those guys were years too early and had to pay the premiums on the CDS's for years).
frick this movie. They were right and made a lot of money. They should be celebrated.
What I hated about this movie was all of the investors who were right and made a lot of money were all sad and seemingly embarrassed about profiting off of their ideas and conviction. I don't understand that at all. It pissed me off so much. These guys emerged victorious yet the end of the movie had this very somber tone.
And there was no comeuppance for the many investors who doubted Michael Burry, especially the one guy we see him interact with a few times and who demanded his money back. At least give us something for having to sit through that. Show him pissed off at having pulled his money and lost out on a gain of 489% (less the losses realized in previous years - some of those guys were years too early and had to pay the premiums on the CDS's for years).
frick this movie. They were right and made a lot of money. They should be celebrated.
17
Posted on 3/16/16 at 6:26 pm to LeonPhelps
None of that bugged me.
They were somewhat upset because winning meant the economy was in the crapper and they system almost fracked them.
They were downbeat because the system almost got away with screwing them and their investors and in the end even though there was CLEAR and I do mean CLEAR fraud in the interest rate manipulations, 1 person was convicted.
I'm not the least bit anti-wallstreet but this movie really pissed me off. Heads needed to roll and jail sentences needed to fly like mardi gras beads.
They were somewhat upset because winning meant the economy was in the crapper and they system almost fracked them.
They were downbeat because the system almost got away with screwing them and their investors and in the end even though there was CLEAR and I do mean CLEAR fraud in the interest rate manipulations, 1 person was convicted.
I'm not the least bit anti-wallstreet but this movie really pissed me off. Heads needed to roll and jail sentences needed to fly like mardi gras beads.
This post was edited on 3/16/16 at 6:29 pm
Posted on 3/16/16 at 6:28 pm to TigerMyth36
But they had a ton of money in the end. They won. Who gives a shite if only one person went to jail? No one forced those subprime borrowers to take on mortgages they had no business taking on. And the country has almost fully recovered from it, as most knew it would.
Posted on 3/16/16 at 6:33 pm to LeonPhelps
quote:
What I hated about this movie was all of the investors who were right and made a lot of money were all sad and seemingly embarrassed about profiting off of their ideas and conviction.
Well, the financial crisis destroyed the livelihoods of so many people. I thought it was telling that even the greediest people in the world recognized how damaging it was worldwide when they ended up being right.
ETA: As some people have mentioned, those were also the characters people were rooting for and they needed to appear human.
This post was edited on 3/16/16 at 7:13 pm
Posted on 3/16/16 at 6:34 pm to jackwoods4
I would be fine with the $4B John Paulson personally pocketed. Call me an a-hole in that scenario, but a ridiculously rich a-hole.
Posted on 3/16/16 at 6:37 pm to LeonPhelps
quote:
What I hated about this movie was all of the investors who were right and made a lot of money were all sad and seemingly embarrassed about profiting off of their ideas and conviction
That's for joe public movie-goer.
You think the public wants to see dudes slapping high fives profiting off of one of the biggest greedy blunder/scandals and financial crises that ruined people's lives?
The movie has to try and make these people likeable...otherwise, they're just another version of the same scam/scum.
This post was edited on 3/16/16 at 6:39 pm
Posted on 3/16/16 at 6:41 pm to mizzoubuckeyeiowa
quote:
That's for joe public movie-goer.
I suspected as much and that's what pisses me off. These guys didn't sell any subprime loans or in any way grease the wheels of that industry - the opposite, in fact.
We should be celebrating financial success, not demonizing it.
Posted on 3/16/16 at 6:45 pm to LeonPhelps
quote:
And there was no comeuppance for the many investors who doubted Michael Burry, especially the one guy we see him interact with a few times and who demanded his money back. At least give us something for having to sit through that. Show him pissed off at having pulled his money and lost out on a gain of 489% (less the losses realized in previous years
That guy was his boss who was pissed at how much money he had sunk into his idea. And he didn't lose all that money. He ends up making like $482 Mil at the end of it. They show it in the email burry sends him
Posted on 3/16/16 at 6:48 pm to LeonPhelps
quote:
No one forced those subprime borrowers to take on mortgages they had no business taking on. And the country has almost fully recovered from it, as most knew it would.
They were pissed at the banks and rating agencies pretty much falsifying the ratings of the bonds and no one did anything about it
Posted on 3/16/16 at 6:49 pm to mizzoubuckeyeiowa
quote:
You think the public wants to see dudes slapping high fives profiting off of one of the biggest greedy blunder/scandals and financial crises that ruined people's lives?
well i can put this in another way
these guys "put up" when pointing out the greedy people profiting off a broken system were going to make it crash
the villains of the 2008 crisis were not the people telling everyone what was wrong with the system
Posted on 3/16/16 at 6:51 pm to LeonPhelps
quote:
And the country has almost fully recovered from it
I had a pretty good thing going developing subdivisions and building specs before the big time fraud in subprime lending took off that caused it to collapse. Subprime was never perfect but it worked before banks got greedy. I lost a lot and fought with some serious depression over the fallout. You want to tell me everything is fully recovered?
Posted on 3/16/16 at 6:57 pm to stout
I had an interview recently for positions in the commodities profession and it was pretty eye opening. They were pretty honest.
Posted on 3/16/16 at 6:59 pm to jg8623
quote:
That guy was his boss who was pissed at how much money he had sunk into his idea. And he didn't lose all that money. He ends up making like $482 Mil at the end of it. They show it in the email burry sends him
I wanted to see him eat crow.
Posted on 3/16/16 at 6:59 pm to SlowFlowPro
Sure but with a complicated subject matter the easiest way to connect to the audience (where everybody is pissed off at anybody who made loads of money) is to show contrition.
(It's the emotional visual medium mea culpa, despite the fact they weren't the culprits).
It's standard Hollywood and I think they needed that in the movie, otherwise it would have had a weird ambiguous note that most would be confused with the point of the movie.
(It's the emotional visual medium mea culpa, despite the fact they weren't the culprits).
It's standard Hollywood and I think they needed that in the movie, otherwise it would have had a weird ambiguous note that most would be confused with the point of the movie.
Posted on 3/16/16 at 7:00 pm to stout
quote:
You want to tell me everything is fully recovered?
Obviously not for you specifically, but you are the exception, not the rule. The country in general has recovered quite well.
If you expected me to feel badly about what I said based on your specific scenario, I am sorry to disappoint. My statement is still true for the vast majority.
Posted on 3/16/16 at 7:01 pm to mizzoubuckeyeiowa
oh i know but "rich finance guys" is just such a cliche/easy target
it's like the NFL concussion "scandal"
point out that the NFLPA is the real organization that was terrible and people FLIP the frick out. why? it's a union
big/evil/profitable corporation (like the NFL)? easy villain
union? non-easy villain
it's like the NFL concussion "scandal"
point out that the NFLPA is the real organization that was terrible and people FLIP the frick out. why? it's a union
big/evil/profitable corporation (like the NFL)? easy villain
union? non-easy villain
Posted on 3/16/16 at 7:07 pm to LeonPhelps
quote:
wanted to see him eat crow.
It was pretty easily understood that he would and that's why burry sent him that email in a "professional" but sarcastic like tone
Posted on 3/16/16 at 7:08 pm to jg8623
quote:
It was pretty easily understood that he would
Again, I wanted to see it
Posted on 3/16/16 at 7:08 pm to stout
I was talking to my sister who works in real estate management consultant and she is pretty sure a crash is going to happen again. And i can see her being right. There's like 400-500 million worth of apartment and condo building going up within 3-4 blocks from her apartment and her city's population is declining quickly.
Posted on 3/16/16 at 7:09 pm to LeonPhelps
quote:
Obviously not for you specifically, but you are the exception, not the rule
Actually, I am not the exception. There are a lot more like me that you aren't taking into account. I have recovered in the sense that I am doing well in another venture, but it set me back quite a bit.
quote:
If you expected me to feel badly about what I said based on your specific scenario
I never said that. I am just saying that not everything has "pretty much recovered". As a finance guy you should probably understand that the trillions of dollars that "disappeared" over this will never truly be recovered. It hurt people's retirements, careers, etc. You are greatly discounting the extent of the damage, how wide reaching it was, and how long it has lingered for many.
That's all the ending of the movie was trying to portray.
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