"The whores at the rating agencies". To me, the most important line in the whole movie. None of this happens if they rate the bonds as crap like they should've.
Moodys, standards and poors job isn’t at all to ensure fairness or equity, not exactly. No more than the commissioner of the NFL is, it’s really about ensuring people play by a set of rules. Since everyone was able to make obscene money, nobody complained and they were incentivized to keep the gravy train rolling. If they didn’t, they’d find someone else, as the movie mentioned. It’s why big banks are so predatory, they can afford to shaft the people, pay fines, and then get bailed out-none the worse for the wear.
If human beings were not flawed, this would not happen. Alas, we are flawed beings who make honest mistakes and worse. Which is why these things happen again and again. EDIT: Apparently, people are incapable of comprehending what they read. I have not linked the above to honest mistakes. The events leading to 2008, obviously, fall into the "and worse" category. I never imagined this could escape so many but whatever. I hope it is clear now.
@@NovusGM well these weren’t honest, as a person who does banking. When a CDO is mostly BB and BBB-it’s unstable. Those are high risk, making sure 90 to 92% of them were subprime meant it could collapse. People banked on continued unparalleled and unchecked growth, coupled with lax laws and also, to whit, historical data that showed the housing markets stability. VAR, as they call it, is less than stellar at predicting unpredictability. With slow growth and a bad economy, this left many to default on houses in waves never seen before. It’s why now, it’s much harder to get a second house, as was more the custom two decades ago-not to mention inflation being sky high, interest rates being astronomical and other factors.
*Excellent analysis, I am from Mexico and I must say that you inspire me because I started investing in cryptocurrencies and trading as a scared investor who does not want to lose money. I am happy to say that I am now very profitable and I have never seen an analysis as well structured as yours. I have a total of $534 thousand dollars, with my $50 thousand I am very grateful for all the knowledge and information that you have given me.*
How did you do it please? I consider buying and holding crypto assets a waste of time. I want to learn how to trade on Trade and start making daily profits.
In my opinion, investing is not about getting rich but about gaining financial independence. You need a financial advisor to help you become a professional investor. I was successful following the instructions of my financial advisor *(Ruth Martinez).* So far, I have no regrets.
Basically investment banks sold bad assets and then provided insurance on the assets "credit default swap". Everyone kept doing this until the amount of money the insurance would have to pay out was more than they could afford. The United States Government didn't want the majority major banks to go bankrupt so they bailed out the debt owed with extremely favorable loans.@@possiblyinsane6995
@@possiblyinsane6995its ok blame your education system, you weren't meant to understand it, stick with reality tv, Kardashians and watching cats on UA-cam
It was a very bad decision to remove the Glass-Steagall Act in the late 1990s, which led to the spectacular failure of huge banks during the financial crisis of 2007-2008. To prevent another disaster, Dodd-Frank and this statute both need to be reestablished right away. What happened with these banks is only the beginning of what will happen if nothing is done to address the current situation.
In my opinion, some of the banks was attempting to restructure their bond portfolio, which involved selling their low-yielding bonds despite the potential loss, and compensating for it by buying higher-interest-rate bonds on the open market.
Despite the economy's resilience thus far, the banks scenario cautions that the effects of Federal Reserve rate hikes persist. During such periods, investors must remain alert to anticipate what comes next. It is not necessary to act on every prediction, so I recommend seeking the guidance of a financial advisor, which has been my go-to advice for some time now.
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Aileen Gertrude Tippy’’ for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
Every time I had a course in college and they wanted to explain the 2008 crash, they told us to watch this movie cause of how well it explains the concepts
Actually it does. In the lead up to the financial crisis the government was pushing wider credit availability and variable rate mortgages. Then the fed cut rates making these no downpayment variable rate loans look appealing. Then they drastically raised rates. Tell me again how the government had no part in this crisis?
I watched this movie for the first time as a teenager but didnt appreciate the brilliance of It until my 20s. Especially considering the worldwide financial crisis happened back then.
Gosling nailed that role. That kind of attitude has never been played before. Genius. A lot of people want to hate the character, but if they don't listen, they will suffer consequences.
Incorrect. The same basic character was the walk-on in Glengarry Glenn Ross, played by Alec Baldwin. The Michael Douglas character in Wall Street was not far off either.
@@Gk2003m i'll check out AB, hard to not see him as "the shooter" now though. 😅 I'm gonna say no to M.D. He was more conniving, smooth, shameful. Gosling told the shocking selfish truth no one wanted to admit was a part of them, but you couldn't not listen. Not a big movie buff though so it's just my impression.
I find it terrifying that "guy who does the math to find out the actual value of a financial product" is a specialty job in finance and not a basic requirement for working in finance. It seems like an admission that the industry is overloaded with salesmen and middle-managers who don't actually know how anything works.
Seems like a lot of people didn't know what they were, or just didn't care. If a Chef uses 3-day old halibut in a stew to save out on a loss, does he still get surprised when someone gets sick and his restaurant gets shut down?
If you wanna be successful, you most take responsibility for your emotions, not place the blame on others. In addition to make you feel more guilty about your faults, pointing the finger at others will only serve to increase your sense of personal accountability. There's always a risk in every investment, yet people still invest and succeed. You must look outward if you wanna be successful in life.
@ElkeHoffman233 if history holds, the US will print money to save Wall Street. Ala Luke Gromen, long term Treasuries are the bag holder for the currency reset.
Let me guess, is this another commercial or advertisement where a bunch of bots are going to namedrop some investment advisors? "I have seen an increase 50% of my portfolio with the help of an advisor from Danbury (or whatever), Miss Velma Palpatine. You can contact her for more details."
@@sophoninja If people weren't living outside their means, banks would never have leant to them at such risk, so yeah, some of it is the public's fault.
@@Dntjockme43 It works on another, more literal level too. In financial markets, when a stock or a sector is overbought because it's believed that it's "too big to fail", then it's described as a bubble, as in it's a market that's heavily inflated and just waiting to pop.
Getting second in a national math competition in the most populated country in the world and with how intense those kind of events get is insane. That "quant" is probably 10 times worth his current value.
Being good at math doesn't mean you have the skills to do a particular skill. Being fluent in English and good at math is a good start; he'd pick it up real quick I'm sure.
@@YOSHIERIDER except that his work is ONLY about maths. So him speaking english is just a plus: 99.99% assured that he was hired 'cause he is good at maths. Most things can be learned, but innate world-class talent in a specific area (specially something so basic and yet important as maths) that has fully bloomed is something that has immeasurable value. Bennett himself more than likely has less value than his "quant" in the eyes of everyone that works in Wall-Street. Is actually quite easy to understand why: he saw an opportunity but only knows that is one 'cause the dude who is good at numbers did his job and confirmed his suspicions.
@@GEMSofGOD_com you'd be surprised at how many people would just collapse from mental exhaustion looking at a table, let alone analyze it. I would know, cos I'm one of them lol
@@GEMSofGOD_com moreover, the only person that got the time, capacity and the very idea of doing it was none other than Michael Burry, Bale's character. The dude saw the bubble after checking an insane amount of data from the market. A Quantitative Analyst's job (Burry and the "quant") is not just seeing those numbers but to turn them into valuable information by understanding how they are related and what they mean. And it was insanely hard to see at that: no one knew what was happening until Burry made the effort to check and then each group that shorted had their own "maths guy" check if he was right, which he was.
The quant joke is one of my favorite jokes in the history of movies, it's completely unexpected because if you pay attention they never show him until that guy asks Ryan's character if he's sure of the math, and after the joke, Yang breaks the 4th wall and explains the situation which makes it more hilarious, this joke was a masterpiece because its timing is on point, I was so focused trying to understand all of the Jenga metaphor and then suddenly this happens, amazing movie
Roasting the shirt shows Gosling's character is good at reading a room. Someone made a personal jab at him and his motives, so he pushed back in a playground bully way to discourage further questions from the second-rankers. Then he looked the head of the firm directly in the eye and answered the question. "I am an outlier at my own firm. I am a salesman selling you a product. My product is fire insurance on a building that's already burning."
@@Grizabeebles I like how you explained this. I watched this scene so many times, like 8 already and for the life of me I didn't get why the guy that said "Dora the Explorer" smirked at the jab.
@@ongaku7342 it´s funny enough to gain some respect from the rest, the one "insulted" is probably a bit salty and won´t mouth off again OR he too has gained a little respect because he appreciates the humor/wit. but like kraken said, it´s enough of a jab to shut "stupid remarks" up :) nobody wants to get burned like that :D
If you listen Vennett says "That's a nice shirt, do they make it *from end?"* It's not an insult, it's a clothier's term. The end of a bolt of cloth is subpar fabric, like an offcut. He's pointing out that they all dress well, make good money and are in the business of making money.
I read that he was originally just supposed to be an extra with no speaking lines, but him and Gosling hit it off so well on set that they wrote a couple of lines for him in this scene.
I love how the idiots from Michael Scott's (IDK his real name or his character's name in this movie) only cling on irrelevant details and make comments about anything, but the real issue they are there to find out about. A bunch of useless twats 😂
Except it's even worse. It would be like if the fish not only didn't sell, it didn't sell because it was contaminated. And then they put it in stew and spiced it up to where it didn't smell bad. But when you ate it... You puked your guts out
@@SA2004YG well we lived there for 15 years and it came back and we sold for a profit in a good market at the time and we sold it almost two years ago n value of it still growing
@@DOMSGUITARS6140Well done! That’s the beauty of property, even in a time of crisis as long as you can financially support yourself and ride out the tough times, the property will eventually catch up and make you money in the long run. Same goes for stocks etc. The difficulty is when you overextend and are unable to cover yourslef or your family during economic downturns.
The most amazing thing about this movie is the writer, director and actors took the most coma sleep inducing subject matter and made it as edge of your seat interesting as an action pact James Bond movie. It was the funniest, scariest and most anger inducing film about corporate banking as you will ever see. If they could have made this film before the housing crash it would have gone down as the most important film of ALL TIME.
To me it's still the most coma sleep inducing no matter in what way it is explained or shown. I didn't understand a thing from what was shown in this clip. I guess that's why I'll die poor lol
We were taught about the tulip bubble in 5th grade. Around 2004 I started telling lots of people about it. I thought everyone had been taught about it in school, but I was wrong. The fact that anyone got caught with their pants down in 2008 is ridiculous. Nothing keeps going up in value forever. Nothing.
Im sure they knew. But too much opportunitt to make money kept them going. The ones responsible made a ahit ton of money. The regular joe got fucked. Same ol story.
@@erickbravo5800 I knew people who were flipping houses and making money. They just couldn't get their heads wrapped around the fact that house values would not keep going up forever. So those people were not Wallstreet types, but greed was still motivating them to keep going when it started to look shaky. I told one guy that it was getting close to the end, and he refused to listen. He lost some money on a big house had built, and I don't have any compassion for him, or others in the same boat. As for people who were buying those houses to live in 05, 06, 07, and before the crash in 08, they were just idiots. The folks who bought before that were not quite as stupid, but even they should have understood that they were paying overvalued prices for a house and should have thought that they would lose the price different if the market had a correction. I bought my house in 93 just after the FED lowered the prime rate. I rushed out to buy because I knew that house prices were going to start going up. We bought an old, beat up house, and we got low mortgage rates. It is all paid off, and still beat up. I'll fix it up someday, but having a beat up house that is paid off is worth much more than a slick one that has a mortgage.
There are 2 key bits of information you need to know though; is the asset going to collapse, and WHEN is it going to collapse. If you shorted the housing market too early, you'd have been utterly financially ruined before the collapse even happened.
Invest judiciously, keep a stop loss figure. Shuffle between debt and equity wherever the ratio goes too off your target. As for the target, I recommend a Ratio like this Debt % should be equal to your age in years. If you are 20, debt is 20%, reset in equity. If the market falls or rises drastically, your debt % will change, which you should rebalance to 20% and bring back equity to 80%. Thus you would have bought low or booked profit depending on if it was a crash or a bull run.
Effective personal finance management is more important than the amount of money saved, regardless of whether income is earned through job or investment. Individuals can seek counsel from a certified financial advisor to optimize financial outcomes, who can provide specialized advice and methods to decrease expenses and maximize income.
I agree, that's the more reason I prefer my day to day investment decisions being guided by an advisor, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 2years+ and I've netted over 2.8million.
Carol Vivian Constable is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
6:13 the first time I watched this movie I thought, "why is he so mean to him," but several watches and years down the road I now I couldn't agree with Jared more
They worked it out in advance. Treating the guy that way makes Ryan’s character look more dominant, which helped with his presentation to his doubting audience.
They will watch this, ignore everything fucked up about it and conclude that this was super smart and cool. Ever talked to kids who watched Wolf of Wallstreet? Belfort is their role model.
The way the “quant” starts fidgeting adjusting his glasses and moving his head with confusion as everyone looks at him. He sold it well. Fucking hilarious! “I’ll give you a hint…his name is YANG!” 😂😂😂
Maybe people get it but something i love this scene is how both are reading/practicing the "script" of the presentation And the assistance confuse "Money" and "Opportunity" 😂😂 is hilarious makes the characters more average than scripted actors saying lines, more alive 😂
Well explained. Thanks for bringing up the video. Financial education is indeed required for more than 70% of the society in the country as very few are literate on the subject…
Most people think, investing in crypto is all about buying coins and leaving it to rise, come on it takes much analysis to be a successful crypto trader.
Trading without professional guide...Huh I laugh you, because you will remain where you are or even make huge losses that will stop you from trading, this has been one of the biggest problem to new traders
You're right! I have lost a lot trading all by myself without a guide. It's been an uneasy ride for me. Who is your mentor please. how can i reach her i really need help in this bear market now?
I believe investors should focus on under-the-radar stocks, especially given the present rollercoaster nature of the stock market. 35% of my $270,000 portfolio consists of collapsing stocks that were previously respected, and I don't know where to go from here.
Explore the option of engaging financial advisors, estate planners, or tax experts. Their specialized expertise can assist you in navigating intricate financial decisions.
Accurate asset allocation is crucial, and some individuals use hedging strategies or allocate part of their portfOlio to defensive assets for market downturns. Expert guidance is vital for achieving this. This approach has helped me stay finan-cially secure for over five years, yielding nearly $1 million in returns on invest-ments.
Thank you for sharing, I must say, Melissa appears to be quite knowledgeable. After coming across her web page, I went through her resume and it was quite impressive. I reached out and scheduled a call.
This movie changed entirely how i view economics. I used to thought there was a kind of control in everything, a control that would keep things balanced, i was wrong
The repeal of the Glass-Steagall Act in the late 1990s paved the way for the 2008 financial crisis. To prevent future disasters, reinstating this legislation and similar regulations is crucial. The recent banking failures are just a glimpse of what could happen if we fail to address systemic risks.
Some banks were attempting to restructure their bond portfolios by selling low-yielding bonds and buying higher-interest-rate bonds on the open market, despite the potential for losses. This strategy, while risky, could have been motivated by a desire to improve their yield and overall financial performance
Seeking the guidance of a financial advisor is essential during periods of market volatility. While the economy has shown resilience, the recent banking crisis highlights the ongoing impact of Federal Reserve rate hikes. As investors, we must remain vigilant and adapt to changing market conditions
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with “Sonya Lee Mitchell” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
So nostalgic. In case you're wondering, the movie is "The Big Short" and it's based on the 2008 global financial market crash caused by the Lehman Brothers scandal.
I rewatched this movie 5+ times, its not an action movie and does not have insane CGI, its just good story, acting and suspense based on finance and nothing else
He's not explaining how to turn debt into money, he's describing how a multi-billion dollar fraud was being implemented in the housing market. What he's describing is 100% illegal.
It was illegal back then. You’re willfully ignorant 😂 he’s describing how the housing market is a fraud and giving them the opportunity to short the stock. Which is exactly what happened in the movie and in reality. Then the government bailed out the banks and created the laws that now deem those actions illegal Correct
Buying swaps as collateral for a mortgage bond, which no-one waits is going to crumble for sure was a move that made rich a lot of people then. They turn information into lots of money
So relevant now. And even at end of the movie, they basically say everything the government did to supposedly prevent this from happening again, is essentially the same practices just with a different name. Inflation at crazy heights, salary growth is minimal, mortgage rates crazy high, yeah things are getting worse and no sign of improving
The trump admin fucking with dodd-frank is what is allowing this to happen again. 2008 is happening all over again. Wall street using the same mechanisms as they did last time. Only this time it's worse than 2008, much worse. I do not look forward to when it all comes to fruition. The greed of wall street will once again be responsible for suffering, bankruptcy and death. Also, If people knew how rigged the stock market was they'd never invest another dime into it.
Excuse my ignorance, what’s the name of the movie?? Background: I was a player in 2007 and 2008… not the biggest one, but one of them, and I saw that problem since 2000… those loans were so crazy!! 580 SI/SA in a 2nd to a 115% CLTV??? You will made a ton of money but you were fueling the coming disaster…. All that smelled so bad!! And the values were crazy!! We change all our strategy in 2004, staying away of subprime (and subprime was an understatement!)… Thank you for your answer, I am very interested in buying that movie!!
4:58 that actually makes a CDO sound a lot better than it actually is. ngl most restaurants do a thing like that, three day old fish ain't THAT bad either. Stew's probably fine.
CDO is fine too, as long you know what's in it. That was the whole problem. None of the financial instruments were inherently bad, it's just nobody knew what they were and they were misrepresented by the ratings agencies. There are funds that literally trade nothing but dog shit debt. But they don't go bust because they what they're trading. Aaaand that dog shit debt can't end up in retirement funds and pensions like the CDOs did because they were considered investment grade.
What?? I guess it depends on the definition of 'interesting'. His roles in 'Drive', 'Blade Runner 2049', 'La La Land' were all interesting. It does come down to 'most' interesting though.
I have seen this movie so many times but when I just re watched the clip I caught that also. I think this was written in to show the Gosling's character in a dog eat dog style, not to be bested by his support guy.
Having an occasional housing market crash is still preferable to everything just continually rising in value. That's how you end up with a housing market like that of my country, Australia, where almost no-one who just wants to buy their first home so they can live in it and avoid paying rent can do so. Real-estate here has been the golden goose for investors for far too long and now most that don't own even one property can't, thanks to all those who own two properties or more and borrow against their portfolio to buy up even more property.
The crash doesn’t help first time buyers. When the housing market crashes it crashes the loan markets too, and it makes it impossible for first time buyers to get loans. The crash only helps the rich buy up more properties because they don’t have to borrow the money or have enough assets to borrow against.
@DavidSanchez-zq8fp Do you think this is why so many inner city properties are now in the hands of rich landlords instead of private owners compared to before? Existing rents are insane and getting worse. Seems to be a problem in every single medium to large city around the globe. Does it trace back to 2008?
@@LarsLarsen77 I’m not your bro, grow up. You can’t buy houses for $20K after a market crash. The house values drop sharply, maybe as much as 50%, but the value doesn’t go to nothing. If the average house in your market sell for $600K before the crash they will still cost $300K after, so yes, you have to be rich to have $300K in cash sitting in the bank.
In Law people like this don't get punished. Clearly. This is one of the many reasons that when examined, we will find that ultimately: Law *impedes* Justice.
@@LarsLarsen77 Depends. When financial advisors sell products, they have a fiduciary obligation to their clients to disclose known risks associated with those assets. If the advisors knew that the assets were risky, or that ratings agencies had given the bonds fraudulent ratings (which they often did, as shown later in this movie), then they're defrauding their clients. Taking risks isn't illegal. Misrepresenting those risks while acting as a fiduciary on behalf of your client very much is. Not an easy thing to prove in a criminal court though.
the guy who plays Jared's assistant does an amazing job ... i love this scene, seen it a million times ... this is the first time I've noticed the assistant's physical timing, facial expressions while Jared is talking and the looks on his face when Jared insults or upbraids him.
The really sad thing is Americans didn't understand it in 2008, and they still don't understand it. I bought my house in January, 2008, at what ended up being pretty much the worst time to buy. Because so many of these high risk borrowers defaulted on their loans, they dragged everybody down with them. My $350,000 house went down in value to $200,000. I took a huge hit from the crash.
Only if you were a house flipper. If it was a long term investment, or where you planned to live it didn't matter. It's the same mistake people make in thinking about the stock market. As long as you own the asset, you haven't lost anything.
Thank you to all the commenters who proved my point that Americans to this day don't understand the 2008 Stock Market Crash. One uniquely American trait in the modern era is to see themselves as (A) the only one whose opinion and whose loss matters and (B) temporarily displaced billionaires, they show no interest or empathy of the average working man's plight. What the 2008 crash did was (1) raise interest rates on variable rate loans, (2) destroy 401(k) investments, and (3) close American factories. We lived near an IBM factory that shut down because of the downturn. It was crazy to see all the neighbors who just abandoned their houses. We were both facing being laid off and our 401(k) retirements were left pretty much useless, so we ended up doing a short sale and changing careers to keep from being homeless. We were professionals who I'd say were very comfortable, but we didn't come from money. Corporations got great bailouts. I went from a $100,000 career to starting a new career at $34,000. We're doing better, but my wife and I met almost every benchmark of people who'd be hit hardest by the 2008 Stock Market Crash.
This time last year I considered crypto without much knowledge and decided to have a consultation with a fiduciary, and it was incredibly insightful. I got into the market with 15k, One year and a couple of months in, and I’m up with 550k. I truly cannot stress enough how helpful experts in this field are!
Hello , I am very interested. As you know, there are tons of investments out there and without solid knowledge, I can't decide what is best. Can you explain further how you invest and earn?
As a beginner investor, it’s essential for you to have a mentor to keep you accountable. Ryan Donald is my trade analyst, he has guided me to identify key market trends, pinpointed strategic entry points, and provided risk assessments, ensuring my trades decisions align with market dynamics for optimal returns..
Ryan's unique strength lies in his realistic approach, which sets him apart from other brokers that often set unattainable targets and fall short in delivery
At the time, my coworker and I were talking about how people were getting home loans that they could not afford. The fed gov required banks make these loans. When it hit the fan, with $40K I picked up a nice house.
![Wolf Of Wallstreet Matthew McConaughey [FULL SCENE] [HD]](http://i.ytimg.com/vi/wM6exo00T5I/mqdefault.jpg)
Hi everyone! What grade (out of 10) would you give this video?
7
9
Did you swap some of the scenes? They seem weirdly cut.
10. it whets your appetite to watch the whole movie. which was very good by the way.
AAA rating from me - no questions asked
"The whores at the rating agencies". To me, the most important line in the whole movie. None of this happens if they rate the bonds as crap like they should've.
Spot on.
Moodys, standards and poors job isn’t at all to ensure fairness or equity, not exactly. No more than the commissioner of the NFL is, it’s really about ensuring people play by a set of rules. Since everyone was able to make obscene money, nobody complained and they were incentivized to keep the gravy train rolling. If they didn’t, they’d find someone else, as the movie mentioned. It’s why big banks are so predatory, they can afford to shaft the people, pay fines, and then get bailed out-none the worse for the wear.
If human beings were not flawed, this would not happen. Alas, we are flawed beings who make honest mistakes and worse.
Which is why these things happen again and again.
EDIT: Apparently, people are incapable of comprehending what they read. I have not linked the above to honest mistakes. The events leading to 2008, obviously, fall into the "and worse" category. I never imagined this could escape so many but whatever. I hope it is clear now.
@@NovusGM well these weren’t honest, as a person who does banking. When a CDO is mostly BB and BBB-it’s unstable. Those are high risk, making sure 90 to 92% of them were subprime meant it could collapse. People banked on continued unparalleled and unchecked growth, coupled with lax laws and also, to whit, historical data that showed the housing markets stability. VAR, as they call it, is less than stellar at predicting unpredictability. With slow growth and a bad economy, this left many to default on houses in waves never seen before. It’s why now, it’s much harder to get a second house, as was more the custom two decades ago-not to mention inflation being sky high, interest rates being astronomical and other factors.
@@NovusGM cheap free money made us gluttonous and enticed us, banks still win if the have to collect on their lien.
I love how Jiang tries to play himself a little down but he's still smart as hell.
Humbleness is a virtue
Jiang probably hates the guy but will keep his mouth shut, knowing they'll get rich together.
He enjoys white privilege too.
@@dontokoi30 that's exactly how the world works 😂 you work with people you don't like to get more money
@@yuriel6691 Nope.
The way the Quant guy kept fixing his glasses nervously made him look even smarter
HIS NAME'S YANG!
@@AM-ml7et that exact moment just never fails to make me laugh 🤣
And his his "i just got out of bed" hair
@@AM-ml7etit’s actually Jiang, and he came in 2nd at the national math tournament
Fkn hustlers lmao
2:09 Best possible thing the movie could have done. Well done, Yang. To memorize a sentence in English and downplay your achievements... so admirable.
He didn’t know a lick of English and he got first place no doubt.
*Excellent analysis, I am from Mexico and I must say that you inspire me because I started investing in cryptocurrencies and trading as a scared investor who does not want to lose money. I am happy to say that I am now very profitable and I have never seen an analysis as well structured as yours. I have a total of $534 thousand dollars, with my $50 thousand I am very grateful for all the knowledge and information that you have given me.*
What is the best strategy to make consistent profits with cryptocurrencies?
How did you do it please? I consider buying and holding crypto assets a waste of time. I want to learn how to trade on Trade and start making daily profits.
It is advisable to seek professional guidance when creating a solid financial portfolio due to its complexity.
In my opinion, investing is not about getting rich but about gaining financial independence. You need a financial advisor to help you become a professional investor. I was successful following the instructions of my financial advisor *(Ruth Martinez).* So far, I have no regrets.
Do you also invest with Ruth Martinez?
Wow, that lady has been a blessing to me and my family.
“Explain it to me like I'm 5” - Michael Scott
"Okay, but are you sure that's not being a little ambitious?"
@@DRod1517 " thats what she said "
Okay here's the famous chef Anthony bourdain to explain ! 😂
"Daddy and Mommy give you 10$ for lemon stand ...."
Or a golden retriever.
This movie is so underrated. It's funny yet puts things in simple terms how things went down.
@@possiblyinsane6995You have to watch the whole movie 🍿
Some terms are difficult to understand but you get like 85 per cent of it 💯
I don’t know anyone that underrates it? I assumed (wrongly it seems) that everyone thought it was a blinder..
Basically investment banks sold bad assets and then provided insurance on the assets "credit default swap". Everyone kept doing this until the amount of money the insurance would have to pay out was more than they could afford. The United States Government didn't want the majority major banks to go bankrupt so they bailed out the debt owed with extremely favorable loans.@@possiblyinsane6995
@@possiblyinsane6995 It's ok. It's meant to be hard to understand.
@@possiblyinsane6995its ok blame your education system, you weren't meant to understand it, stick with reality tv, Kardashians and watching cats on UA-cam
This movie literally explained the housing market crash in 2008 to me
you should prolly read a book or two instead, the movie gets a whole lot wrong
@lowenization It does, but it's right in the essentials.
We need a new movie to explain inflation.
Most of these movies conveniently leave out Congress… this idea didn’t just pop into the mind of banks out of nowhere.
That's the point of it.
"That's a nice shirt, do they make it for men?"
I think that was a genuine laugh that they almost broke character.
Like Mazda Miatas are nice cars. What color purse does it come with?😅
@@colonelkurtz2269Clueless ignorant, thats all. Denying Miata's is the first sign of a total lack of automotive knowledge.
@@makifrable Unless you're man-sized.
@colonelkurtz2269 my 11 year old girl wants one. That lets you know who should be driving those.
It was a very bad decision to remove the Glass-Steagall Act in the late 1990s, which led to the spectacular failure of huge banks during the financial crisis of 2007-2008. To prevent another disaster, Dodd-Frank and this statute both need to be reestablished right away. What happened with these banks is only the beginning of what will happen if nothing is done to address the current situation.
In my opinion, some of the banks was attempting to restructure their bond portfolio, which involved selling their low-yielding bonds despite the potential loss, and compensating for it by buying higher-interest-rate bonds on the open market.
Despite the economy's resilience thus far, the banks scenario cautions that the effects of Federal Reserve rate hikes persist. During such periods, investors must remain alert to anticipate what comes next. It is not necessary to act on every prediction, so I recommend seeking the guidance of a financial advisor, which has been my go-to advice for some time now.
I'm intrigued by your experience. Could you possibly recommend a trustworthy advisor you've consulted with?
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Aileen Gertrude Tippy’’ for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.
This Office reboot is really wild.
It’s a mashup of The Office + Succession 😂
Everything gotta be dark and gritty now 😂
Jim literally became asian
Top marks for this comment.
bro 😭😭😭😭😭😭😭😭😭😭😭😭😭😭😭😭😭😭
Every time I had a course in college and they wanted to explain the 2008 crash, they told us to watch this movie cause of how well it explains the concepts
And not a single word was said about Central banking controlling interest rates through Fiat
@@DarrinSKthank you!
@@DarrinSK thats got nothing to do with it.
@@DarrinSKor Congress regulations that incentivized banks to loan to people who they knew could not pay back the loans
Actually it does. In the lead up to the financial crisis the government was pushing wider credit availability and variable rate mortgages. Then the fed cut rates making these no downpayment variable rate loans look appealing. Then they drastically raised rates. Tell me again how the government had no part in this crisis?
I'm happy for Kendall Roy, he's doing good after his beef with the family.
Na he was here thats why he had beef with his family
dude really shit the bed
His bed is his toilet. Optimism!
At least he's running with one of the Green Street hooligans.
That's what you'd expect from the eldest boy.
I watched this movie for the first time as a teenager but didnt appreciate the brilliance of It until my 20s. Especially considering the worldwide financial crisis happened back then.
I was 30 when all that happened and I still didn’t get the movie or the crisis
Gosling nailed that role. That kind of attitude has never been played before. Genius. A lot of people want to hate the character, but if they don't listen, they will suffer consequences.
Incorrect. The same basic character was the walk-on in Glengarry Glenn Ross, played by Alec Baldwin. The Michael Douglas character in Wall Street was not far off either.
@@Gk2003m i'll check out AB, hard to not see him as "the shooter" now though. 😅 I'm gonna say no to M.D. He was more conniving, smooth, shameful. Gosling told the shocking selfish truth no one wanted to admit was a part of them, but you couldn't not listen. Not a big movie buff though so it's just my impression.
the integrity of the Finance Industry explained accurately in this film clip. The "Rating Agencies" absolutely pointless.
The lack thereof
They investigated themselves and found no evidence of wrongdoing.
@@derkylos The Finance Industry is that bad it really is.
He refers to them as "The Whores at the Ratings Agency", and rightfully so.
That goes for the auto industry as well. JD Power rates your car depending on your contributions. The Oval Blue Awards are Ford sponsored.
One of the best scenes in a movie I’ve seen. Gosling steals the show in this movie.
“MY QUANTITATIVE”
My quant YANG! Understand!?~ Smartest guy that works for me and proves life! I have him!
I find it terrifying that "guy who does the math to find out the actual value of a financial product" is a specialty job in finance and not a basic requirement for working in finance.
It seems like an admission that the industry is overloaded with salesmen and middle-managers who don't actually know how anything works.
Brilliantly stated truth
Last time he done a proper movie unlike that one called barbie.
@@mosheridan7016 -- Ken was a brilliant piece of character acting. Give the man his due.
Love how even the dude with him got the answer wrong
He really didn’t cause a few lines later he says “opportunity” and his boy kinda smirks. Peep it it’s funny
This got me all sorts of hysterical emotions when I first saw the film. Now I'm just rofling HARD to this.
whatever he's gonna answer to that will be wrong because Ryan was playing at him.
Fckin A
It was opportunity come on guys. Think
I like how Steve Carrell runs a hedge fund and doesn’t know what a quant or a CDO is
That's because it's the angriest hedge fund in America.
That happens when Michael Scott is the manager.
Because they were a new thing back then
@@rawraj1578quantitative analysis was NOT new in 2008 😭😭😭
Seems like a lot of people didn't know what they were, or just didn't care.
If a Chef uses 3-day old halibut in a stew to save out on a loss, does he still get surprised when someone gets sick and his restaurant gets shut down?
If you wanna be successful, you most take responsibility for your emotions, not place the blame on others. In addition to make you feel more guilty about your faults, pointing the finger at others will only serve to increase your sense of personal accountability. There's always a risk in every investment, yet people still invest and succeed. You must look outward if you wanna be successful in life.
i found it only took being right and going long once
@ElkeHoffman233 if history holds, the US will print money to save Wall Street. Ala Luke Gromen, long term Treasuries are the bag holder for the currency reset.
Let me guess, is this another commercial or advertisement where a bunch of bots are going to namedrop some investment advisors? "I have seen an increase 50% of my portfolio with the help of an advisor from Danbury (or whatever), Miss Velma Palpatine. You can contact her for more details."
so the institutions that setup this monstrosity aren"t to blame, it's you and me? lol
@@sophoninja If people weren't living outside their means, banks would never have leant to them at such risk, so yeah, some of it is the public's fault.
“My whole department’s long on this stuff. They call me chicken little. They call me bubble boy” - bar after bar in this scene
Not an American didn't get the context would you be kind enough to explain 😂
@@AC-iz7eh two comedy movies where the main character is clowned extensively for their beliefs/motives, so ryan was relating to them
@@Dntjockme43 It works on another, more literal level too. In financial markets, when a stock or a sector is overbought because it's believed that it's "too big to fail", then it's described as a bubble, as in it's a market that's heavily inflated and just waiting to pop.
@@shaun4772I understood where bubble boy came from but not chicken little lol but after Dnt's explanation I recall it being a movie haha
They call me night master
Best scene in the movie.
"He won a national math competition ...... in China!" 😅
😂 stereotype used as a tool to convince😂😂😂
The hardest math competition in the world obviously😅
Queue chinese housing crisis
Our math competitions in the U.S. are dog poop wrapped in cat poop!
Using Abacus 🧮 😊
Getting second in a national math competition in the most populated country in the world and with how intense those kind of events get is insane. That "quant" is probably 10 times worth his current value.
Being good at math doesn't mean you have the skills to do a particular skill.
Being fluent in English and good at math is a good start; he'd pick it up real quick I'm sure.
@@YOSHIERIDER except that his work is ONLY about maths. So him speaking english is just a plus: 99.99% assured that he was hired 'cause he is good at maths. Most things can be learned, but innate world-class talent in a specific area (specially something so basic and yet important as maths) that has fully bloomed is something that has immeasurable value. Bennett himself more than likely has less value than his "quant" in the eyes of everyone that works in Wall-Street. Is actually quite easy to understand why: he saw an opportunity but only knows that is one 'cause the dude who is good at numbers did his job and confirmed his suspicions.
@@christiantarnoski1231How is digging into tables and just seeing that they're all filled with BS math?
@@GEMSofGOD_com you'd be surprised at how many people would just collapse from mental exhaustion looking at a table, let alone analyze it. I would know, cos I'm one of them lol
@@GEMSofGOD_com moreover, the only person that got the time, capacity and the very idea of doing it was none other than Michael Burry, Bale's character. The dude saw the bubble after checking an insane amount of data from the market. A Quantitative Analyst's job (Burry and the "quant") is not just seeing those numbers but to turn them into valuable information by understanding how they are related and what they mean. And it was insanely hard to see at that: no one knew what was happening until Burry made the effort to check and then each group that shorted had their own "maths guy" check if he was right, which he was.
Love the way Jiang goes from full Beaker mode, looking blankly around and pushing his glasses up on his face, to his polished aside :)
memume, mememumeme!
The quant joke is one of my favorite jokes in the history of movies, it's completely unexpected because if you pay attention they never show him until that guy asks Ryan's character if he's sure of the math, and after the joke, Yang breaks the 4th wall and explains the situation which makes it more hilarious, this joke was a masterpiece because its timing is on point, I was so focused trying to understand all of the Jenga metaphor and then suddenly this happens, amazing movie
Fuckin A luis
the best scene in the movie. stellar performance from Ryan
Pitching a business idea AND roasting your client's shirt 😅. This movie never gets old.
Roasting the shirt shows Gosling's character is good at reading a room. Someone made a personal jab at him and his motives, so he pushed back in a playground bully way to discourage further questions from the second-rankers. Then he looked the head of the firm directly in the eye and answered the question. "I am an outlier at my own firm. I am a salesman selling you a product. My product is fire insurance on a building that's already burning."
@@Grizabeebles I like how you explained this. I watched this scene so many times, like 8 already and for the life of me I didn't get why the guy that said "Dora the Explorer" smirked at the jab.
@@ongaku7342 it´s funny enough to gain some respect from the rest, the one "insulted" is probably a bit salty and won´t mouth off again OR he too has gained a little respect because he appreciates the humor/wit. but like kraken said, it´s enough of a jab to shut "stupid remarks" up :) nobody wants to get burned like that :D
If you listen Vennett says "That's a nice shirt, do they make it *from end?"* It's not an insult, it's a clothier's term. The end of a bolt of cloth is subpar fabric, like an offcut. He's pointing out that they all dress well, make good money and are in the business of making money.
that's a joke I used to here in the late 90's, "nice shirt, do they make it for men too?". Surprised they used it... pretty obvious throwback joke.
Supposedly the dude with gosling is one of his closest friends, And then says “Shut your fuckin mouth”😂 what a delivery to your boy!!
I thought I had heard he was just a guy on the set of the movie, but they hit it off so well that they made him his assistant in the movie
@@fryncyaryorvjink2140 ohh ok maybe that’s what the story is.. 2nd hand information not always trust worthy!
@@fryncyaryorvjink2140yeah there’s a few diff sites w interviews w the guy. Pretty cool story imo
@@fryncyaryorvjink2140that’s what he was. Just some dude lol
I read that he was originally just supposed to be an extra with no speaking lines, but him and Gosling hit it off so well on set that they wrote a couple of lines for him in this scene.
6:12 this MF was sold !😂
“Look at his eyes!”
“That’s pretty racist”
I love how the idiots from Michael Scott's (IDK his real name or his character's name in this movie) only cling on irrelevant details and make comments about anything, but the real issue they are there to find out about. A bunch of useless twats 😂
That's gay.
@@Jehty_That’s homophobic.
@@b3n_b That's black
@@ElChronicler That's racist.
That seafood stew is a very under rated analogy
If you think a bit more deeply it explains most crap in life
💯
Like??
Except it's even worse. It would be like if the fish not only didn't sell, it didn't sell because it was contaminated. And then they put it in stew and spiced it up to where it didn't smell bad. But when you ate it... You puked your guts out
Except the seafood stew is still decent for you instead of a pile of dog poop
@@SOSO_CREPITUSlike yo mom, used good. but put on some makeup, yo daddy picked her right up
I love this movie. Was so relevant to me as i bought my first house in 2007 for top price and a year later value of my house dripped by more than half
Whats it at now?
@@SA2004YG well we lived there for 15 years and it came back and we sold for a profit in a good market at the time and we sold it almost two years ago n value of it still growing
@@DOMSGUITARS6140So it’s all about time…
@@DOMSGUITARS6140Well done! That’s the beauty of property, even in a time of crisis as long as you can financially support yourself and ride out the tough times, the property will eventually catch up and make you money in the long run. Same goes for stocks etc. The difficulty is when you overextend and are unable to cover yourslef or your family during economic downturns.
@@DOMSGUITARS6140 Did you plus the opportunity cost and compare it with inflation, I doubt it's actually a profit cause we kind made the same mistake
The most amazing thing about this movie is the writer, director and actors took the most coma sleep inducing subject matter and made it as edge of your seat interesting as an action pact James Bond movie. It was the funniest, scariest and most anger inducing film about corporate banking as you will ever see. If they could have made this film before the housing crash it would have gone down as the most important film of ALL TIME.
IT wasn't boring to the millions of folks who had their retirement or home values cut in half lol.
@@bcp5296d yes it was. Otherwise they wouldn't have been in those positions.
thousands of white collar criminals enabled the theft/loss of a trillion dollars from the US economy and not one of them went to jail for it.
To me it's still the most coma sleep inducing no matter in what way it is explained or shown. I didn't understand a thing from what was shown in this clip. I guess that's why I'll die poor lol
The fact that bro also can rock the role of Ken from Barbie just underscores how great of a talent Ryan Gosling is
@1:26 "You're too close" Golden!
We were taught about the tulip bubble in 5th grade. Around 2004 I started telling lots of people about it. I thought everyone had been taught about it in school, but I was wrong. The fact that anyone got caught with their pants down in 2008 is ridiculous. Nothing keeps going up in value forever. Nothing.
Im sure they knew. But too much opportunitt to make money kept them going. The ones responsible made a ahit ton of money. The regular joe got fucked. Same ol story.
@@erickbravo5800
I knew people who were flipping houses and making money. They just couldn't get their heads wrapped around the fact that house values would not keep going up forever. So those people were not Wallstreet types, but greed was still motivating them to keep going when it started to look shaky. I told one guy that it was getting close to the end, and he refused to listen. He lost some money on a big house had built, and I don't have any compassion for him, or others in the same boat. As for people who were buying those houses to live in 05, 06, 07, and before the crash in 08, they were just idiots. The folks who bought before that were not quite as stupid, but even they should have understood that they were paying overvalued prices for a house and should have thought that they would lose the price different if the market had a correction.
I bought my house in 93 just after the FED lowered the prime rate. I rushed out to buy because I knew that house prices were going to start going up. We bought an old, beat up house, and we got low mortgage rates. It is all paid off, and still beat up. I'll fix it up someday, but having a beat up house that is paid off is worth much more than a slick one that has a mortgage.
@foxfireman188-ls1kv It will be a soft landing if the properties are not mortgaged.
Bitcoin does.
There are 2 key bits of information you need to know though; is the asset going to collapse, and WHEN is it going to collapse. If you shorted the housing market too early, you'd have been utterly financially ruined before the collapse even happened.
The guy felt like a hero for few miliseconds after saying "Opportunity". 😂
Invest judiciously, keep a stop loss figure. Shuffle between debt and equity wherever the ratio goes too off your target. As for the target, I recommend a Ratio like this Debt % should be equal to your age in years. If you are 20, debt is 20%, reset in equity. If the market falls or rises drastically, your debt % will change, which you should rebalance to 20% and bring back equity to 80%. Thus you would have bought low or booked profit depending on if it was a crash or a bull run.
Effective personal finance management is more important than the amount of money saved, regardless of whether income is earned through job or investment. Individuals can seek counsel from a certified financial advisor to optimize financial outcomes, who can provide specialized advice and methods to decrease expenses and maximize income.
I agree, that's the more reason I prefer my day to day investment decisions being guided by an advisor, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 2years+ and I've netted over 2.8million.
How can I reach this adviser of yours? because I'm seeking for a more effective investment approach on my savings
Carol Vivian Constable is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
I copied her whole name and pasted it into my browser; her website appeared immediately, and her qualifications are excellent; thank you for sharing.
hands down: this was THE OSCAR MOMENT of Ryan Gosling and will always be.
6:13 the first time I watched this movie I thought, "why is he so mean to him," but several watches and years down the road I now I couldn't agree with Jared more
The actor who played Chris was apparently an extra that they asked to play that role.
They worked it out in advance. Treating the guy that way makes Ryan’s character look more dominant, which helped with his presentation to his doubting audience.
Another aspect of it, you don’t gloat to the people you’re trying to fuck over. You do that after you leave the office.
This movie should be shown in schools everywhere
Too much swearing...
@@adamdaniel8909 I think the 1st graders can handle it.
@@goober8798 that's fair...
Was shown to us in high school
They will watch this, ignore everything fucked up about it and conclude that this was super smart and cool. Ever talked to kids who watched Wolf of Wallstreet? Belfort is their role model.
I always lose it when he explains his quant. Lol.
The way the “quant” starts fidgeting adjusting his glasses and moving his head with confusion as everyone looks at him. He sold it well. Fucking hilarious! “I’ll give you a hint…his name is YANG!” 😂😂😂
Maybe people get it but something i love this scene is how both are reading/practicing the "script" of the presentation
And the assistance confuse "Money" and "Opportunity" 😂😂 is hilarious makes the characters more average than scripted actors saying lines, more alive 😂
I like how throughout this scene, Steve Carell is doing his impression of Michael Scott doing an impression of Jim Halpert.
Well explained. Thanks for bringing up the video. Financial education is indeed required for more than 70% of the society in the country as very few are literate on the subject…
Trading in Bitcoin now is the wisest thing to do now especially beginner....
Most people think, investing in crypto is all about buying coins and leaving it to rise, come on it takes much analysis to be a successful crypto trader.
Trading without professional guide...Huh I laugh you, because you will remain where you are or even make huge losses that will stop you from trading, this has been one of the biggest problem to new traders
You're right! I have lost a lot trading all by myself without a guide. It's been an uneasy ride for me. Who is your mentor please. how can i reach her i really need help in this bear market now?
I know someone who can help you Olivia Brown
“Let’s not talk about my margins” 😂
"Nice shirt, do they make it for men?" LOL
The comic timings in this movie were insane
The fire insurance line really sums it up.
1:27 “You’re too close..” 😂😂😂
fuckin' A Jared
"Shut your fuckin mouth" xD
THIS MOVIE IS THE BEST DEFINITION OF "EXPLAIN IT LIKE I AM FIVE"
When I first saw this movie and scene, I lost it because I thought he said “Mike Kwan, Mike Kwantitative!” 😂😂😂
I believe investors should focus on under-the-radar stocks, especially given the present rollercoaster nature of the stock market. 35% of my $270,000 portfolio consists of collapsing stocks that were previously respected, and I don't know where to go from here.
Explore the option of engaging financial advisors, estate planners, or tax experts. Their specialized expertise can assist you in navigating intricate financial decisions.
Accurate asset allocation is crucial, and some individuals use hedging strategies or allocate part of their portfOlio to defensive assets for market downturns. Expert guidance is vital for achieving this. This approach has helped me stay finan-cially secure for over five years, yielding nearly $1 million in returns on invest-ments.
Pls can you leave the info of your Financial advisor here, I am really in need of one.
The popular lady Melissa Jean Talingdan comes to mind. You'd find her basic info. on the web to set up appointment as she offers free consultations.
Thank you for sharing, I must say, Melissa appears to be quite knowledgeable. After coming across her web page, I went through her resume and it was quite impressive. I reached out and scheduled a call.
6:13 It's all about this, epic scene lmao
AAA. They told us back then and here it comes again.
Well, that's why they also want to make us addicted to lifestyles we can't afford so that we stop caring about our financial futures.
Boom bust boom
This movie changed entirely how i view economics. I used to thought there was a kind of control in everything, a control that would keep things balanced, i was wrong
There can be control. But people wouldn't make money. Control requires responsibility.
Theoretically there should be until the big pocket ones start manipulating and exploiting the market.
0:12 i smell MONney
The repeal of the Glass-Steagall Act in the late 1990s paved the way for the 2008 financial crisis. To prevent future disasters, reinstating this legislation and similar regulations is crucial. The recent banking failures are just a glimpse of what could happen if we fail to address systemic risks.
Some banks were attempting to restructure their bond portfolios by selling low-yielding bonds and buying higher-interest-rate bonds on the open market, despite the potential for losses. This strategy, while risky, could have been motivated by a desire to improve their yield and overall financial performance
Seeking the guidance of a financial advisor is essential during periods of market volatility. While the economy has shown resilience, the recent banking crisis highlights the ongoing impact of Federal Reserve rate hikes. As investors, we must remain vigilant and adapt to changing market conditions
I'm intrigued by your experience. Could you possibly recommend a trustworthy advisor you've consulted with?
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with “Sonya Lee Mitchell” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.
1:20 “and the Oscar for best Gum Chewing in a supporting role…” THIS GUY
I mean too be fair coming in 2nd in a national math competition in China is still fucking amazing
So nostalgic. In case you're wondering, the movie is "The Big Short" and it's based on the 2008 global financial market crash caused by the Lehman Brothers scandal.
I rewatched this movie 5+ times, its not an action movie and does not have insane CGI, its just good story, acting and suspense based on finance and nothing else
He's not explaining how to turn debt into money, he's describing how a multi-billion dollar fraud was being implemented in the housing market. What he's describing is 100% illegal.
It is now.
@@JoshSweetvale It was then.
If they make money on the short then they’re making money off the… debt of people defaulting their mortgage
It was illegal back then. You’re willfully ignorant 😂 he’s describing how the housing market is a fraud and giving them the opportunity to short the stock. Which is exactly what happened in the movie and in reality. Then the government bailed out the banks and created the laws that now deem those actions illegal
Correct
Buying swaps as collateral for a mortgage bond, which no-one waits is going to crumble for sure was a move that made rich a lot of people then. They turn information into lots of money
“I’ve seen bonds rated at 65% AAA rating. When I know it’s filled with 95% subprime shit with FICO’s below 550!” Idk why I love that line
It made the hard to understand understandable and relatable
1:45 My first time watching this: "Who the hell is Mike Want?"
ryan gosling’s face cracks me up when he says “his name’s yang!”
The accuracy of this is so great, best depiction of the IB community in a movie lol
So relevant now. And even at end of the movie, they basically say everything the government did to supposedly prevent this from happening again, is essentially the same practices just with a different name.
Inflation at crazy heights, salary growth is minimal, mortgage rates crazy high, yeah things are getting worse and no sign of improving
The trump admin fucking with dodd-frank is what is allowing this to happen again. 2008 is happening all over again. Wall street using the same mechanisms as they did last time. Only this time it's worse than 2008, much worse. I do not look forward to when it all comes to fruition. The greed of wall street will once again be responsible for suffering, bankruptcy and death. Also, If people knew how rigged the stock market was they'd never invest another dime into it.
"Shut your fucking mouth." Best way to end this scene.
Ryan gosling has always been one of my favorite comedic actors. He is comedy gold in this movie.
The way he pronounces money got me rolling 😂😂😂😂
MAHNE. You smell MAHNE.
I rewatch this and Margin Call every time I see a video of it😂
Having Bourdain explain the 08 market crash really is a fever dream
This movie should be #1 in the horror movies rankings.
why lol
You mean in documentaries
Excuse my ignorance, what’s the name of the movie??
Background: I was a player in 2007 and 2008… not the biggest one, but one of them, and I saw that problem since 2000… those loans were so crazy!! 580 SI/SA in a 2nd to a 115% CLTV??? You will made a ton of money but you were fueling the coming disaster…. All that smelled so bad!! And the values were crazy!! We change all our strategy in 2004, staying away of subprime (and subprime was an understatement!)…
Thank you for your answer, I am very interested in buying that movie!!
@@jlbarrera "The big short"
Well,if you add the facts and truth behind…I can say yeah it should rank up there in the upper tier of horror movies…🤔
4:58 that actually makes a CDO sound a lot better than it actually is.
ngl most restaurants do a thing like that, three day old fish ain't THAT bad either. Stew's probably fine.
CDO is fine too, as long you know what's in it. That was the whole problem. None of the financial instruments were inherently bad, it's just nobody knew what they were and they were misrepresented by the ratings agencies. There are funds that literally trade nothing but dog shit debt. But they don't go bust because they what they're trading. Aaaand that dog shit debt can't end up in retirement funds and pensions like the CDOs did because they were considered investment grade.
Most interesting role Gosling ever played
What?? I guess it depends on the definition of 'interesting'. His roles in 'Drive', 'Blade Runner 2049', 'La La Land' were all interesting. It does come down to 'most' interesting though.
The bathroom scene was worthy of every award an actor can possibly receive. I agree with you.
i just love how chris says "opportunity" and is corrected into "no, money!", then later jared says "and that... is an opportunity" xD
I have seen this movie so many times but when I just re watched the clip I caught that also. I think this was written in to show the Gosling's character in a dog eat dog style, not to be bested by his support guy.
Greatest finance movie of all time
Name it
The "look at my quant" scene will never get old, and will always make me laugh like a maniac
Having an occasional housing market crash is still preferable to everything just continually rising in value. That's how you end up with a housing market like that of my country, Australia, where almost no-one who just wants to buy their first home so they can live in it and avoid paying rent can do so. Real-estate here has been the golden goose for investors for far too long and now most that don't own even one property can't, thanks to all those who own two properties or more and borrow against their portfolio to buy up even more property.
The crash doesn’t help first time buyers. When the housing market crashes it crashes the loan markets too, and it makes it impossible for first time buyers to get loans. The crash only helps the rich buy up more properties because they don’t have to borrow the money or have enough assets to borrow against.
@@DavidSanchez-zq8fplol this scene is literally about this, guys with money making even more money off the crash
@DavidSanchez-zq8fp Do you think this is why so many inner city properties are now in the hands of rich landlords instead of private owners compared to before? Existing rents are insane and getting worse. Seems to be a problem in every single medium to large city around the globe. Does it trace back to 2008?
@@DavidSanchez-zq8fp Bro you can buy a house for $20,000 when that happens. People with $20,000 in the bank are not rich.
@@LarsLarsen77 I’m not your bro, grow up. You can’t buy houses for $20K after a market crash. The house values drop sharply, maybe as much as 50%, but the value doesn’t go to nothing. If the average house in your market sell for $600K before the crash they will still cost $300K after, so yes, you have to be rich to have $300K in cash sitting in the bank.
I forgot how good the Anthony Bourdain cameo was in this.
RIP chef 🫡
Because of the Margot Robbie cameo
The fact that no one went to jail for this is INSANE
One person, technically. And technically, that is an infinite improvement, lmao.
It's not illegal to take risks. Especially when the government is insuring everything.
In Law people like this don't get punished. Clearly.
This is one of the many reasons that when examined, we will find that ultimately: Law *impedes* Justice.
@@LarsLarsen77 Depends. When financial advisors sell products, they have a fiduciary obligation to their clients to disclose known risks associated with those assets. If the advisors knew that the assets were risky, or that ratings agencies had given the bonds fraudulent ratings (which they often did, as shown later in this movie), then they're defrauding their clients. Taking risks isn't illegal. Misrepresenting those risks while acting as a fiduciary on behalf of your client very much is. Not an easy thing to prove in a criminal court though.
It’s capital punishment; if you have the capital, you don’t do the punishment.
Gosling just nails this. Respect
the guy who plays Jared's assistant does an amazing job ... i love this scene, seen it a million times ... this is the first time I've noticed the assistant's physical timing, facial expressions while Jared is talking and the looks on his face when Jared insults or upbraids him.
I just spent 6 months getting licensed as an investment adviser representative. It's so nice to know what he's talking about.
I'll wager you totally missed the point of the film.
@@RideAcrossTheRiver Lol that profile pic
The really sad thing is Americans didn't understand it in 2008, and they still don't understand it. I bought my house in January, 2008, at what ended up being pretty much the worst time to buy. Because so many of these high risk borrowers defaulted on their loans, they dragged everybody down with them. My $350,000 house went down in value to $200,000. I took a huge hit from the crash.
You only took the hit if you needed to sell or took out equity loans. If you stayed there how much is your house worth now?
only if you needed to sell. otherwise you made out when the taxes on the house went down
Only if you were a house flipper. If it was a long term investment, or where you planned to live it didn't matter. It's the same mistake people make in thinking about the stock market. As long as you own the asset, you haven't lost anything.
Thank you to all the commenters who proved my point that Americans to this day don't understand the 2008 Stock Market Crash. One uniquely American trait in the modern era is to see themselves as (A) the only one whose opinion and whose loss matters and (B) temporarily displaced billionaires, they show no interest or empathy of the average working man's plight.
What the 2008 crash did was (1) raise interest rates on variable rate loans, (2) destroy 401(k) investments, and (3) close American factories. We lived near an IBM factory that shut down because of the downturn. It was crazy to see all the neighbors who just abandoned their houses. We were both facing being laid off and our 401(k) retirements were left pretty much useless, so we ended up doing a short sale and changing careers to keep from being homeless. We were professionals who I'd say were very comfortable, but we didn't come from money. Corporations got great bailouts. I went from a $100,000 career to starting a new career at $34,000. We're doing better, but my wife and I met almost every benchmark of people who'd be hit hardest by the 2008 Stock Market Crash.
350 back then, 3/4 mill right now.
" I can hear you judging me. " LOL
His wealth-building journey is a masterclass in dedication and discipline. He’s creating a legacy, not just an income
I lived through the crash, working in the Real Estate industry. I got in the industry in 2009 and it was a crazy time.
So much “Shut up, Meg” energy
And now we get to do this all over again with commercial real estate yay!!!
Actually its car loans this time.
@@LarsLarsen77 Commercial real estate is a $20 trillion market.
@@ShapeshifterOS it’s everything this time!
5:15 "Somehow you're like Dora the Explorer and you're the first person who found this thing" 😂😂😂
Yup the screen writer is a genius
Some people understood only 2 words from this video - DORA THE EXPLORER
Finally a movie that looks worth watching. I hope the library has it!
I MISS Anthony.
😔
He got HIllary'd
He defaulted
Me too. Every time I watch this scene, I get a little misty eyed when he pops on screen with that huge contagious laugh.
Every time I watch I learn something new
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Hello how do you make such monthly?? I'm a born Christian and sometimes I feel so down 🤦♀of myself because of low finance but I still
believe in God
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At the time, my coworker and I were talking about how people were getting home loans that they could not afford. The fed gov required banks make these loans. When it hit the fan, with $40K I picked up a nice house.
The casting for The Big Short was off-the-hook! Next level