The most brilliant and chilling aspect of this scene, which I only just now noticed was the way they hungrily peruse the mortgages he’s willing to put at stake. They already feel with 100% certainty that they will utterly destroy him on this bet and yet when they see that his currency is the very livelihoods of entirely unaware and innocent businesses and families they don’t even bat an eye about the morality of it all. To paraphrase Brad Pitt’s character later on: “people are reduced to numbers.” Subtle, but powerful!
sorry both you and JUSTINPDX, but that is the nature of the beast...if you are willing to enter the arena of finance, those that win most likely means someone has lost...don't buy stocks unless you know a lot about it OR you are certain your investor knows a lot. Since 99.999999% of the population, from experts to investors, thought the housing market was going to be fine, it just shows you that there are really very few experts.
Yeah these bankers are greedy pigs. Unfortunately it's likely so are the people Dr. Murray represented with his hedge fund. Those investors would do the same if they were on the opposite side.
Is this why he always drastically increases the amount of money after they agree to the initial relatively smaller sum. Once he’s gotten them to the point of taking his 5 mil he feels confident enough that their egos will make them accept the hundred thinking of it as free money. You can see each of the bankers reactions whenever he raises the stakes. Interesting though as I never noticed his relief in these scenes.
The jet launching is a stylish symbol of doing the trade. You could also look at it as the BoA banker getting off on supposedly taking advantage of Dr. Burry
The thing is, If a guy comes in into your bank, offers you free money, then when you agree he hands you a dossier so carefully prepared, you should know something is missing. You should know this is too good to be true.
@Peter Lohnes - Exactly how were they incompetent? The guy was betting against AAA rated bonds supported by first ranking mortgages over real property. In hindsight he is a genius but how many people over time who predict the end of the world are actually right? Their job was to sell not to second guess the contrarian opinions of 0.0000001% of the investment community. @jemeel adams - I would argue it takes a bigger ego to insist that you are right (and gamble all of your investors' money) when 99.9999999% of the investment community thinks you are wrong?
You would think ONE just ONE of those analysts would leave the meeting and do some research... I certainly would. Maybe not to stop the transaction, maybe to short it myself...just seems like you'd want to be sure betting that much.
actually, he stated before that "no one actually reads"..........he knew they were just pretending to look smart and reading and understand what they were reading.........so basically, they were NOT reading a shit.
Killah Priest but I read that Goldman Sachs paid back government with interest And they were forced to take money by the government so that other bank would take it.
keshav very convinient hey, uncle sam saves the day, screw other businesses individualise profit socialise losses. prints off more money promises to pay government back so far no action. see you in 2028 when uncle sam will use tax payers money to bail it out again. once its printed off you forever took the money from savings account of people by devaluing dollar GJ
@@JDothan May or may not be true. If you loan out $100 MM and get back $110 MM you may have still incurred a real loss. The Federal reserve bought these homes, probably for full market price.
This movie shows more than any other the absolute criminality of Wall Street Investment Houses. I love at the end where Dr. Burry tells them...right, you are ready to pay once you have sold your shit laden CDO's and crap mortgage bundles.
Henry Zhang In reality there was probably a whole lot of paper work that needed to be done and it likely needed some sort of government stamp of approval. That stuff is probably just too boring to bother putting in the movie.
No. Not the same. Vegas is gambling; purely driven by chance and luck. Shorting the housing market was based on numbers and data that Dr. Berry (a math wiz) and a handful of others were able to see and capitalize on. It's the difference between someone gambling, and someone playing poker.
at 1:30, the bank tells him he will have to pay a monthly fee if the opposite of what he expects happens. He agrees to it. A question here is, how did the bank know he had the potential to make such payments? Was he already a very wealthy man? If not, then, how did the bank guarantee that he would pay if he lost his bet?
I mean at 1:30, they (bank) said he (berry) would have to make payments to the bank if the value of the mortgage fund goes up. But what did the bank do to guarantee that he would pay in such scenario. Was berry already so wealthy that they trusted his word? Or did he have to submit something as a guarantee?
Great simple explanation - one clerical correction. When you cover your short at $90 you're actually buying the security back, not selling. Mechanically, when you short sell a security you "borrow" the shares/bonds/notes/etc. and sell them immediately - eventually you must return them to the original owner by purchasing the security back again at the current price. Your realized profit (or loss) is the difference between the old price (where you sold) and the current price (where you bought back). To open a short position, you must keep a certain percentage of cash with your broker/bank, called margin. The bank can force you to close a short positions if the value increases so much that you don't have enough margin posted to buy them back. Finally, credit default swaps like the ones Dr. Burry traded are more like insurance policies. They aren't quite "borrowed" for short positions like shares are because they're derivatives (i.e. they derive their value from something else) - instead they are marked to market using your margin collateral, meaning every day you must transfer the daily gain/loss in cash to the investor on the other side of your trade (this is what they're talking about at 1:33). The most common examples of this are swaps and futures.
It's funny how those actors are pretending they are wall street bankers with MBAs from Harvard and Wharton....like when they're going through the binders, you know damn well they don't know about any of this lol!
With a name like "Bilal" let me guess, from Pakiland? And let me guess, the "C" most likely stands for Chaudhary or some other stupid ass muslim name? Sure sure, you know more than us - or at least in your (bald) head you think you do. But, whatever the case may be, you cannot change the fact that you're a muslim and most likely from Pakistan. Just EW! Gross.
I like how Bruce Wayne collected the cups like they were trophies.
Arturo Yodemire that's scene is copied from The Civil Action where the weird lawyer collects cups and pens from each meetings.
Oh nice. Gracias. I will go check that movie out too!
And that's how Batman took out Goldman Sachs.
Gullpped these comments need to stop
It's like the end of Batman beigins ... When he explains how he bought majority shares in Wayne enterprises
And put all the profits into the Applied Sciences Division.
The most brilliant and chilling aspect of this scene, which I only just now noticed was the way they hungrily peruse the mortgages he’s willing to put at stake. They already feel with 100% certainty that they will utterly destroy him on this bet and yet when they see that his currency is the very livelihoods of entirely unaware and innocent businesses and families they don’t even bat an eye about the morality of it all. To paraphrase Brad Pitt’s character later on: “people are reduced to numbers.”
Subtle, but powerful!
Like she says in this scene, “this is Wall Street dr Burry, if you offer us free money we will take it”. That probably lets her sleep at night...
sorry both you and JUSTINPDX, but that is the nature of the beast...if you are willing to enter the arena of finance, those that win most likely means someone has lost...don't buy stocks unless you know a lot about it OR you are certain your investor knows a lot. Since 99.999999% of the population, from experts to investors, thought the housing market was going to be fine, it just shows you that there are really very few experts.
Yeah these bankers are greedy pigs. Unfortunately it's likely so are the people Dr. Murray represented with his hedge fund. Those investors would do the same if they were on the opposite side.
Its so cool how relieved he is while going out. He was truly concerned, they could be too clever to bite...
Is this why he always drastically increases the amount of money after they agree to the initial relatively smaller sum. Once he’s gotten them to the point of taking his 5 mil he feels confident enough that their egos will make them accept the hundred thinking of it as free money. You can see each of the bankers reactions whenever he raises the stakes. Interesting though as I never noticed his relief in these scenes.
This movie is epic, super entertaining and educational.
Henry Zhang no longer effective. Now you need to own mbs or ambs to buy cds to hedge your position.
@@comenerv is this still true?
I love that cut from the female BoA smiling slyly to the fighter jet launching
Could you explain why it's good?
The jet launching is a stylish symbol of doing the trade. You could also look at it as the BoA banker getting off on supposedly taking advantage of Dr. Burry
Like trying to win a geurilla war using WW1 hardware and strategy.
let's see paul allen's mugs
You do not bet against Bruce Wayne.
Never gets old!
'I'm sorry are you for real?' And then there were solvency issues!!!
best line in the whole movie lol
You know what I love? The fact that Batman sat there and used his detective skills to completely fuck all the major banks
Dr. Berry is collecting mugs because he's a money maker
Thanks for the clip!
The thing is, If a guy comes in into your bank, offers you free money, then when you agree he hands you a dossier so carefully prepared, you should know something is missing.
You should know this is too good to be true.
This movie perfectly shows that 95% of people are incompetent at their jobs.
Peter Lohnes its not they are incompetent.. No no. They believe they know everything and have a big ego.
@@cryptobuzz1680 very true
Crypto buzz Isn’t possessing those flaws what makes them incompetent though.
@Peter Lohnes - Exactly how were they incompetent? The guy was betting against AAA rated bonds supported by first ranking mortgages over real property. In hindsight he is a genius but how many people over time who predict the end of the world are actually right? Their job was to sell not to second guess the contrarian opinions of 0.0000001% of the investment community.
@jemeel adams - I would argue it takes a bigger ego to insist that you are right (and gamble all of your investors' money) when 99.9999999% of the investment community thinks you are wrong?
You would think ONE just ONE of those analysts would leave the meeting and do some research... I certainly would. Maybe not to stop the transaction, maybe to short it myself...just seems like you'd want to be sure betting that much.
My dream is to become a hedge funds manager.
the man who saw the future......
that smile driven by confidence 2:07
darkbrian ' i
actually, he stated before that "no one actually reads"..........he knew they were just pretending to look smart and reading and understand what they were reading.........so basically, they were NOT reading a shit.
the sad thing.... goldman and sachs didn't actually paid him... the taxpayers did.
Killah Priest but I read that Goldman Sachs paid back government with interest
And they were forced to take money by the government so that other bank would take it.
keshav very convinient hey, uncle sam saves the day, screw other businesses individualise profit socialise losses. prints off more money promises to pay government back so far no action. see you in 2028 when uncle sam will use tax payers money to bail it out again. once its printed off you forever took the money from savings account of people by devaluing dollar GJ
@@keshav4203 You're absolutely correct. Taxpayers actually made a profit on the bank bailout.
@@JDothan May or may not be true. If you loan out $100 MM and get back $110 MM you may have still incurred a real loss. The Federal reserve bought these homes, probably for full market price.
The smile att 2:06... Christian Bale is one of the best actors... /See the Machinist!
This movie shows more than any other the absolute criminality of Wall Street Investment Houses. I love at the end where Dr. Burry tells them...right, you are ready to pay once you have sold your shit laden CDO's and crap mortgage bundles.
Never saw the movie but read the book. It was good.
money changers. i recall when trim was 2x12 oak. now its 2 1/4 pine.
real quick to work out 100mil deal.
Henry Zhang
In reality there was probably a whole lot of paper work that needed to be done and it likely needed some sort of government stamp of approval. That stuff is probably just too boring to bother putting in the movie.
the goldman sachs lady is beautiful
Dr. Michael Burry.
shhhhhh, they're on a roll. or a troll. or a troll roll.
the madman
Look on his stupid banker face when Burry said "can you make it a 100 mil" . Fkin badass🤘🤓
He looks JUST like Al Pacino in Scarface
Wall Street, Vegas, same betting floor.
No. Not the same. Vegas is gambling; purely driven by chance and luck. Shorting the housing market was based on numbers and data that Dr. Berry (a math wiz) and a handful of others were able to see and capitalize on. It's the difference between someone gambling, and someone playing poker.
kxmode there's math in poker too. And blackjack for that matter.
Except the house doesn't always win, and most people make profits. It's also much easier to gage and follow.
But they were/are betting with OTHER PEOPLE'S MONEY. Big difference.
@@tomfurgas2844 they think it's theirs
*Burry
what happened did the banks go bust and have to pay up
who is she ?
Vanessa Cloke
if only dr Berry held on a little longer..$$$
at 1:30, the bank tells him he will have to pay a monthly fee if the opposite of what he expects happens. He agrees to it. A question here is, how did the bank know he had the potential to make such payments? Was he already a very wealthy man? If not, then, how did the bank guarantee that he would pay if he lost his bet?
I mean at 1:30, they (bank) said he (berry) would have to make payments to the bank if the value of the mortgage fund goes up. But what did the bank do to guarantee that he would pay in such scenario. Was berry already so wealthy that they trusted his word? Or did he have to submit something as a guarantee?
He already purchased 100m worth cds. If he did not pay the premium, they would simply cancel his insurance.
He was a hedge fund manager, so he invested his clients' money.
I dont understand. Can somebody explain me this scene?
P.S I love CB...
WinningThisOne
Ohhh I see..
Thanx dude...
Nice explanation... Got it now.
Great simple explanation - one clerical correction. When you cover your short at $90 you're actually buying the security back, not selling. Mechanically, when you short sell a security you "borrow" the shares/bonds/notes/etc. and sell them immediately - eventually you must return them to the original owner by purchasing the security back again at the current price. Your realized profit (or loss) is the difference between the old price (where you sold) and the current price (where you bought back). To open a short position, you must keep a certain percentage of cash with your broker/bank, called margin. The bank can force you to close a short positions if the value increases so much that you don't have enough margin posted to buy them back. Finally, credit default swaps like the ones Dr. Burry traded are more like insurance policies. They aren't quite "borrowed" for short positions like shares are because they're derivatives (i.e. they derive their value from something else) - instead they are marked to market using your margin collateral, meaning every day you must transfer the daily gain/loss in cash to the investor on the other side of your trade (this is what they're talking about at 1:33). The most common examples of this are swaps and futures.
had to pause this to say..what is that hairdo on the indian man..?haven't seen something similar in reality
The female investment banker is a babe
The movie was good but those wigs were horrible.
It's funny how those actors are pretending they are wall street bankers with MBAs from Harvard and Wharton....like when they're going through the binders, you know damn well they don't know about any of this lol!
It's almost like actors pretend to be things they're not
What...the.... heck....
With a name like "Bilal" let me guess, from Pakiland? And let me guess, the "C" most likely stands for Chaudhary or some other stupid ass muslim name? Sure sure, you know more than us - or at least in your (bald) head you think you do. But, whatever the case may be, you cannot change the fact that you're a muslim and most likely from Pakistan. Just EW! Gross.
....and the award for the most obtuse comment on ‘you tube’ goes to.....
thats acting... you idiot
This idiot rap "music" is so annoying.