Finance & Fury Podcast

Welcome to Finance and Fury Want to touch on passive investing versus higher conviction investing I watched the Big Short last weekend – many people asked me if I had seen it and were surprised when I hadn’t – don’t watch many finance movies or documentaries – find them to be liberal with the facts or only cover the rudimentary factors – so I watched it – good movie – did touch on some of the deeper points of the legislation and had some nods to the root causes – like when Michael Burry had the Fannie Mae/Freddie Mack prospectus on his desk – Those were the Government controlled lending institutions – that were mandated to give out at minimum 30% to lenders who couldn’t afford the loans - Most interesting character was Dr Michael Burry – Michael Burry – Christian Bale’s character – interested in the real-life man - Did some reading – Started his Hedge fund in 2000 – Quickly made large profits from shorting the overvalued shares in the DotCom bubble – Market fell buy about 12% while he made about 55% Also ca