The Big Short (2015) - Major Investor confronts Dr. Michael Burry [HD 1080p]
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- čas přidán 17. 11. 2016
- "Michael, give me my money back.
Michael, do you hear me? I want my money back..."
A major investor of Scion Capital (Character named Mr. Lawrence Field in the motion picture) pays Dr. Michael Burry a visit when he learns about Dr.Burry's position in housing market using CDSs. - Krátké a kreslené filmy
'all you care about is money.....this town deserves a better class of Investors and im gonna give it to em'
This is brilliant.
Ok Heath. Was that your Metallica Master of Puppets playing in the other room in the beginning of this video clip?
Scared Chicken that’s great, let’s see Paul Allen’s Card.
Jokerrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr
"You get what you fuckin deserve."
“We have no confidence in your ability to identify macro economic trends”
“You flew here to tell me that?”
A simple phone call would have sufficed.
@@Godzilla370
So how's the weather in Hong Kong? 😂
Lol
But yet, you've made us a shit-ton of money to this point."
@@norpriest521 how's the view from LCU?
Who else has basically watched this movie with all the recommended clips
Yes then I borrowed it from the library
I watched the movie, then I watched all the clips and read the comments because I only understood about 30% of it the first time around lol
Some of the people in the comments are accountants, investors etc., they can explain this stuff.
Yup! Glad someone else said it
4 years later, Lawrence has Michael drive his 1966 Ford GT-40 in the Le Mans.
Fucking awesome movie glad I saw it in theaters
That guy was like his anger translator😂
Chase Butler that's why it's so funny 😂😂
Best comment ever
He's like the Other speaking for Thanos :D Pity Michael didn't blow his head off like Ronin did.
Classic Good cop, Bad cop routine
The best part is his face actually reminds me of KMK 🤣
Hearing that guy yelling "the contracts are voided!?" over and over again would be the most torturous alarm clock I can imagine.
a really aching voice and tone
Lmfaoo
Hahahahahhahahahahha
"Wake up you motherfucker"
Someone make a 10 hour version
We all root for Michael Burry in the film, but let’s be honest in real life 99% of us would be the investors demanding our fucking money back 😂
99% of are suffering
@@mattsterh7740 paper handed bitches. History has a weird way of reoccurring..
Absolutely.
@@paulfroelich1024 0
Yeah, because most people are stupid. I completely understood his thought process, and he was right. WTF is your point?
Now, let's see Paul Allen's haircut.
But they have the same haircut
You know I’m looking forward to see this comment
Lmao! This made me laugh at a time I really needed it. Thank you!
Let's see Paul Allen's shoes.
'"So a guy who gets his haircut at Supercuts and doesn't wear shoes knows more than Greenspan and Paulson" this pretty much sums up how people assign value to things. People ignore logic and reason and follow what looks and sounds good. People are morons
Spot on
Raw Engineer Geniuses statistically have this tendency not to care of themselves.
In wallstreet sometimes looking good and athletic could land you a good job.
Everybody can be smart
@electronic alligator You're not getting the point of the comment. People are invested in perception and perception can put people at ease.
He's saying the people are unreasonable and that sometimes you have to play the game to provide that comfort
No reason to have a freakout friend
"Lawrence and I even go to the same SuperCuts salon, although I have a slightly better haircut."
Avraham Hayashulam very underrated comment
GENIUS!
Brilliant
American Psycho yesssss
I get my haircut on the Base. I'm retired Army.
One of the best parts of this scene is that the investors ask a series of rational and thoughtful questions before asking for their money back. The big short wasn't obvious to everyone.
If the same people that jumped on the Shorts bandwagon for CDS had thought it all the way out ...... and shorted the stock for the investment banks .......... they would have REALLY owned the situation.
SayNoToTroll that's cuz u suck bro
And that's why you worked as a research analyst and not on the trading desk as a professional trader... No offense meant. Research analysts and professional traders, who themselves are fundamental analysts, are two very different types of positions.
they asked for their money back because having tons of liquidity was normal at that point. Investing in 98-2008 was not like investing at any other period. The system was so fucking crazy you could be considered an 'investor' without actually having any savings. Simply owning a home meant you had access to a money-printing factor due to the ease of mortgage loans. Private "investors" weren't long on anything, investing no longer meant having a ton of money tied up in single funds, It meant owning a bunch of houses (which other people were paying the notes on) which you had multiple loans on giving you a ton of money in the bank, while holding a very small amount of money in funds which you could just pull out of at a moments notice. They were all living in a fantasy world. They had just become so accustomed to having their cake and eating it too, with zero risk loans and appreciating assets which had been the norm for a decade by this point that no one even factored in being told no to something. Or that the party might be ending.
It was though, people just didn’t want to believe that such greed and stupidity, and blatant fraud could occur in our country at the time. It was actually really simple what was happening, the big banks were handing out hundreds of thousands of dollars in mortgages to people who had no ability to pay them back. It was that simple, gave a lot of expensive stuff to people who couldn’t afford it. And then the ratings agencies committed mass fraud and lied about how bad the loans were.
Christian Bale spent some time with the real Dr Michael Burry and asked if he could borrow the sweatshirt and cargo pants that he was wearing. Yes - the clothing in the film really belongs to Dr Burry.
He even is in the background at 0:16
Wow, I've seen this movie 15 times and i didn't even know this, super cool, thank you for sharing!!
That explains why they’re so baggy.
@@muabyt7333 no way
@@Cadavu2 The blue shirt guy on the phone, that's him
Dr. Burry was right but the risk was insane to the point where the investor was right also. At that point it was no longer economics but alchemy, and the danger was that the banks and investment houses could figure out a way to prop up and extend the value of these already worthless instruments.
Which they usually do.
True, he said it himself that he made the trade a little too big
Yeah like the Morgan Stanley guy that shorted them and still lost cause he got in too early, . . . .
@@kenanaojacob2854 Exactly
Alot of people saw the bubble. Many went broke trying to short it in 2006. The hard part was the timing of the strategy.
"Lawrence, that would be so stupid". Genius line. Burry is so frustrated that people can't keep up with his expertise. It's awesome. One of my favourite movies of all time.
Jarrett Mazza yeah but if you listen to the conversation he expects the crash to happening in 5 years i think and if the crash happends 1-2 years later all the money will be gone and the deal will default so he has very little marginal to be right.
It was a very risky bet. If investors had withdrawn their money, he wouldnt have had enough for the fees so the shorts would have been voided. Like wtf
Mysticsam86 No, he expects them to crash in 2 years.
This movie downplayed how badly this guy was abused by his investors whom he'd made millions of dollars before in the past on trades similar to this one. They should be ashamed tbh. These two I actually understand because they had their own investors who were calling their money back and Burry was holding it, so they were on the hook for it. But most of Burrys investors were just being dicks.
@@CHURCHISAWESUM It's natural to be a dick to someone who is losing you serious money in the hope that a bet on something that's never happened, happens. That morgan stanley dude kathy talks about in the end did the same thing but lost serious amounts of money and had to resort to covering his shorts with upper trache cdos. If burry was smart he would have structured his bet better or hired sales/marketing staff who would explain it better than he ever could. The movie was pro-burry. The book creates a better picture. Burry tried to start his own fund based on just shorting the hoysing market and failed because selling and being persuasive is the other half of his work. This investor stuck his neck out to give him this job amd he goes on the whim to make a huge risky bet.
Bale is a generational talent. Every single micro-expression is absolutely spot-on and conveys an entire personality. Amazing, amazing actor - one of the best of the last few decades, for sure.
To be honest... no matter how smart Michael Burry was, to bet 1.3 billion, with just 550 million is reckless. If a portion of the investors withdraw, that leverage goes thru the roof.
Yes and as that dude said being early and being wrong are often the same thing. Burry's skill allowed him to predict an imminent housing crash but let's be real: his timing was definitely pretty lucky
I don't know, for him it was kind of like betting that a coin would land on either heads or tails. The ultimate risk to him was that instead of letting the coin land on a face, the person flipping the coin would snatch it away mid-air, take his and your money, and leave.
That's how you make the big bucks. Being reckless has its perks!
It's not reckless when you have insider information.
@@scottmatlock6169 he didn’t have insider information. It was information that was available to anyone who looked for it
Michael's expression when the standing investor screamed the contracts are voided was priceless.
Only if the Fund's capital dropped too much then the contract would be voided
That would actually SAVE the fund, contractiaklly, from being bleed totally dry.
It's a fail safe idea. Said here like it's in the bank's favor.... If the fund cant make premium payments, then it's game over, contracts are voided no matter what.... if you are not making payments, the electricity gets shut off too.
That is how I felt when my dad found out I invested in Bitcoin in 2017. He isn't cringing now.
@@Robertperezshow NICE!!!! Hopefully you took money and got out but good job! I'll admit I was too scared to do it. I put some money in reits and S&P back in 2020 but I didn't do crypto.
Ugh why is family always such haters? I bought doge before the boom was gonna buy more but my family said don’t
Notice how easy it was for the other guy to turn off the music at 0:36
The efficiency and directness of that click implies that it hasn't been his first time turning of Michael's loud music.
noticed
This is justbhow they turn music off in movies. You're over analysing
@@nardinit
Bug off
@@ereklechakvetadze1648 ok Mr exaggerater
Nah, you are overanalysing. They just need simple actions to take place efficiently in movies to move the story along.
Lmao at the real Michael Burry in the background looking socially awkward answering a fake phone call
Bruh i thought that was him
@@FASynergy It is.
The guy at 0:16 ?
@@SBRS47 It is him
This whole story is crazy and the craziest part is it actually happened. The real guy's name is Joel Greenblatt, and the crazy thing about it? He's ALSO a billionaire contrarian value investor, who helped Michael start his fund and who also had a crazy good track record betting against the market's supposedly good judgement. Just goes to show you just how wild of a bet this was that a man who agreed with him 100% was still this aggressively against it. And how hard it must have been on Michael to have his own mentor turn against him like this.
so in the end did greenblatt benefit from michael's wild bet?
Did he get his money back?
@@aerohk
Not all of it, not immediately. Burry blocked withdrawals of most of the investment (so that only a portion could be withdrawn by investors), which was a highly irregular action given the circumstances.
Once the housing market crash started, and Burry swaps begun to be valuable (once his bet became evidently profitable basically), he allowed withdrawals.
I am not sure what Greenblatt did then, but either way he made a lot of money thanks to Burry, and would have lost a lot of money had he withdrawn the money.
I was trying to find someone who knew this
@@mito88 Yeah, hugely
Man, I love the way Lawrence's companion says: ''OH, MOTHERFUCKER!!'' It's just delivered so on point.
"I may have been early but I'm not wrong"
"It's the same thing"
He's right. Your analysis may be correct but your position will never materialise if the market just pretends everything's fine.
Its like options trading. If you have a long call on a stock that expires in june and the stock begins to take off in july, your analysis was right the stock moved in the right direction, but a month past your contract so it’s wrong
That's the problem that nearly got Burry bankrupted, yep.
I love the Moody's lady later in the film saying she had to delay downgrades until all the fancy people got their money out.
The gulf between being right and making money in the markets is immense.
@@oLevLovesLove Example: Enron was a huge energy company with millions of customers that could have turned steady profits, but their stock became overvalued, and they took the money and had Coke and who're parties every day until the money was gone. The most serious, experienced analyst would have said the company was rock solid.
Most people don't know this, but the investor who wants his money back is supposed to be Joel Greenblatt (The Little Book of Investing). He gave Mike Burry $1,000,000 to start Scion Capital. The other guy his business partner. In real life they flew all the way out from New York.
I read scion was started with a small inheritance and loans from family. He did not become associated with Greenblatt until scion had a proven track record
Lawrence is Joel Greenblatt and the other guy is White Mountain insurance CIO I believe
@@tungduong8084 thank you great actors as well
So Mike Burry made these guys a ton of money in the end? I bet they weren’t mad then.
@@Apollyon83 They still were. Never said a thank you, and remained pissed at him
"THE CONTRACTS ARE VOIDED? THE CONTRACTS ARE VOIDED?" This line is stuck in my head for weeks now and I don't understand why
Mine too. It's because his voice is so hilarious
Its so cheesy
@@taxfree4603 Not cheese imo. The scene exhibits determination of all of those men in almost perfect way
i literally searched this dialogue
@@taxfree4603It’s not.
Is the guy standing an anger translator? Reminds me of Luther.
Too bad they didn't show the investor's reaction after the crash
Eric that’s because according to the book there wasn’t one. Nobody thanked him (Michael) nobody said he was right. The selfish greed persisted so far that even when the market did crash, all they saw were returns on the short and the human element once again disappeared. Really depressing shit.
Anyone see the real Michael Burry on the phone at 0:16?
Great observation Mr.Nichthomas.
Here is a thumbs up for you.
nice i didnt notice when i saw this last year.
nice catch!
Simmilar to the wolf of wallstreet, where the real Jordan belfort introduces leonardo di caprio at the final scene.
Damn I was just about to type "I think I saw the real Michael Burry at the beginning of this clip", then I saw this comment.
LOL, how he says "The contracts are voided?"
LMAO
HAHAHAHAHAHA "OHHH.... MOTHERFU****!!"
It was a very risky bet. If investors had withdrawn their money, he wouldn't have had enough to remargin fees so the shorts would have been voided. Like wtf
Ya appeared to be a pretty scummy thing to do. Doing an all or nothing gambit under a theory. A theory that luckily landed well but dam I’d be pissed to it my financial prospects we’re held hostage like that.
@@hisham7679 essentially he is betting for the market to fail. If his prediction is wrong or if the investors pull their money out he made an agreement to pay the banks whatever money was left from the fund to the investment he made with the bank. So its an all or nothing game and their in it for the ride.
These guys knew the risks involved. They just didn't have any balls
2:32 - I love Tracy Letts in this scene. Like he's crossed over into a rage that's made him so crazy he's laughing instead of yelling.
I sometimes feel he's underrated as an actor. People definitely respect him as a playwright, but since he's not a typical leading man and mostly plays supporting roles, he tends to go under the radar. However, he absolutely kills every part he plays. He goes from a role like this to the depressed father in "Lady Bird," and he's completely unrecognizable.
@@jkta97 He's a SUPERB actor. Loved him in Homeland too.
Lmao, anyone else laugh at how pissed the dude gets at 3:22?
He made this guy $489 million.
valar 489 but yeah I would have loved to his face at that news.
@Manuj Madan he made Lawrence 489 million (as stated in the email he wrote him), but what's interesting is that this same number is the growth of the fund at the end, 489%. In total, the fund's profits were 1.69 billion dollars.
Good lord! *PROFITS* were 1.69 billion!
$600 million.
i may be wrong but he actually made him 389 millions because the guy invested 100,000,000. thus, 489% return of 100,000,000 is 489 million. you can do the math by multiplying 100,000,000 x 4.89 (equivalent of 489%).
"I just did what i do best, i took your little investment and i turned it on itself. Look what i did to this market with a few shorts of stock and a couple of credit swaps hmm? You know what i noticed? Nobody panics when things go according to Plan. Even when the plan is horrifying. If tomorrow i told the investors that theres a housing bubble and millions of people are fucked, nobody panics. Because its all part of the plan. But when i say that one little old contract is voided, well then everybody loses their minds!!!"
The Best Comment on this video. Right here.
This comment deserves way more likes.
"was shorting the stocks part of your plan!?"
"Of course"
@@Coaltergeist "Well, congratulations. You shorted the stocks. Now, what's the next step of your master plan?"
@@michaelsong5555 CRASHING THIS MARKET!!!...WITH NO SURVIVORS!
SO it's super interesting to note that Burry was way, WAY ahead of the curve with shorting the housing market. So far ahead that he could have held off on purchasing his shorts for almost two years, saving money and stopping this investor panic. He bought two early, and the investors rightfully lost their minds.
Exactly. If he had waited he would have made billions more
Hindsight is 20/20
That's very easy to say with the benefit of hindsight, because when Dr Burry bought his shorting options it looked like an unstable house of cards to anyone who really looked into it, but at the time, the majority of traders and famous market leaders were treating the sub-prime loans as though there was nothing wrong and never would go wrong.
Makes you wonder how many other Burrys bought too earlier and had to pull the plug before the crash, or shorted other bubbles that didn't collapse because of fraud in valuation that didn't get uncovered.
@@pnut3844able how much did he make?
My uncle had 105,000 USD dollars with Scion from May 2005. He retired at the age of 42 in late 2008. It’s been almost 11 years since Dr. Burry made him God knows how much, and that Uncle of mine is still chilling. He also never got married, and never had any kids. He is living the life.
it would be greay getting more stories on how they felt before it paid off.. is it possible to interview him?
That’s awesome. They deserved every penny for hanging in there. To invest with Burry now you need a million dollars and status as a certified investor.
Payout of a lifetime.
He will never, never have the happiness that comes from being married and raising children. No amount of money can subsitute. Sorry, but he's living a life, but not "the" life.
Khalid did you re uncle trusted Dr M. Burry? Like i m with you all the way 🙌💎?
Our did he freak out like the big fat cat in this clip?
3:45 when the arcade machine eats your 50 cents
lol
Jacked Up Reviews lol
😂
Hilarious
negative twenty degrees fack
Being a super cuts devoted customer, I found that statement offensive.
Matt Cinnamo 😀😁😂
Lmao
this is why I go to Great Clips instead.
Matt Cinnamo shocker. You guys find everything offensive.
I bought a pair of Clippers years ago and kept the money in my damn pocket. Who's the dummy now?
“The market can stay irrational longer than you can stay solvent”
Exactly. Others shorter and failed by being too early. Those premiums are sinkholes.
The scene setup is brilliant. The ill tempered investor provides a way for the fury and frustration against Burry to be heard, and helps the audience understand how insane that trade was without understanding the details. Meanwhile, a calm but sinister Lawrence enables an actual dialogue with Burry, helping the audience understand a bit of what’s going on, but also seeing the professionalism from the investors and Burrys inability to fully grasp their frustrations or see beyond “the numbers”.
Flawless.
Simon you are spot on! Good scenes in screenplays feature four emotions; anger, frustration, happiness and sadness. This scene illustrates this concept perfectly. Each time I see this movie I pick up something.
@@mattgrey1373 watch The Man From Earth
@@napoleonbonerfarte6739 good movie. The sequel to it was downright horrible.
@@JohnS-il1dr not gonna disagree with you on that one lmfao
@@mattgrey1373 What about terror, despair? why did you single out those 4 only?
Handling the Fisher account isn't all that it's cracked up to be eh, Halberstram?
KiloByte top kek
Marcus and I even go to the same barber, although I have a slightly better haircut.
CMY187 at Supercuts!
KiloByte OMG THIS IS WHY YT COMMENTS
Evelyn Williams? She goes out with that loser Patrick Bateman. What a dork!
guy randomly hits space bar and expects music to stop. Good call bru
actually works on most pc's
Perhaps this was not their first time visiting Dr.Michael Burry's office at Scion Capital with death metal music blasting from his computer speakers and dealt with such situation many times.
Actually all investors use Winamp is 2008. It was a smart way to go. Space bar is the universal sign on PC to pause.
Master is not death metal
ha, so did I just realize the huge pun, "the scions of shannara" (from the shannara chronicles) being a play on words for the investment capital group xD
The brilliance of Michael Burry's arc in this story is to see how right he was about everything. He saw it first, and he invested anyways, even as the big spenders on Wall Street were laughing all the way to the bank, they did everything but lock the doors and turn off the lights when he came to collect after the value of his investment quadrupled, that's why the stipulation to void the contract was there, he knew they'd try to get out of it. And when Lawrence tries to sue him, that falls flat on its face when Michael makes him a billionaire, "you're welcome". One of the most fascinating and terrifying stories ever told.
the investors were right too. being early and being wrong could results in the same thing, no matter how right he was.
Mmm...not really. Yes, the fees looked big and scary, but what something looks like isn't always what it is. Burry wasn't stupid, the bet was very much so a matter of timing, and a little luck. Had he bet on the housing market 4 years before he did, then yes, he probably would have wound up losing money, but the bubble also wouldn't have been nearly as big, or obvious at the time, so there would have been no reason to make the bet.
@@ConstantChanger1000 he's right that there's a bubble, but he had no way of seeing when exactly it will burst. as we can see in the movie, they pretends that everything's alright, and delay the burst for as long as they could. for all they know, it could be 5, 10 more years before the burst. as someone else said in the comment section, "the market could stay irrational longer than you could stay solvent"
Burry was lucky. What if the market keep going up? He would lose his job.
Even though he was right, it was a pretty huge risk. Its like going to the casino and the casino says, "There's no low wining or middle winning bets..its just one random jackpot a year..and you have to lose every day all day until you win the jackpot"
"The contracts are VOIDED? The Contracts are VOIDED??"
How is this not a meme
"Holy shit... oh motherfucker!" xD I love his tone
RengokuTM me too man great acting seriously though
@@jakubnike66 Yeah, truly great acting. Don't know why I always come to this scene to watch these two guys? Both 'Lawrence' and his brother were awesome here. The oldest is the same actor that portrays Henry Ford II in 'Ford vs Ferrari' and ironically Ken Miles portrayed by Cristian Bale ends up driving his GT40 at LeMans! That old guy is a great great actor!
@Softy I've come over this clip a few times only because of that. It's is musically pleasing, dramatically efficient and ideologically fulfilling.
OK, i give u the money back but I want a card like Paul Allen's....
HEY PAUL!
Me too 😎😎😎
Something wrong, Patrick? *You're sweating* (#:#)
Papi Blanco Do you like Hugh Lewis and the news?
Sean Braasch Listen I've got a lunch meeting at Hugh Bears in 20 mns..'.
3:28 His reaction is hilarious. 😂😂
he just turned towards the otherside..knows whats coming hahaha
This is one of my favourite scenes in the movie. The commenting from the assistant guy, while no one listens or responds to is brilliant. Its as if he isn't there. He represents the typical market analyst who follows the press and the market sentiment, but doesn't actually understand the market. While the 2 major players carry on without giving him the time of day. Thats how/why Burry was so successful.
Michael is just mad Lawrence gets seats at dorsia
Steven Harbeson he does have a slightly better haircut
No he’s just mad about his new business cards
Nobody goes there anymore
I'm trying to listen to the new Metallica tape, but Lawerence, my supposed fund partner, keeps buzzing in my ear.
Lawrence, do you like Huey Lewis and the News?
"I'm on the verge of tears, as I'm certain they'll never record another album, but they do, and relief washes over me... in an awesome wave."
@aAaa aAaa No. I can't take the time off work.
@@VivaMessico Wait....whatdyamean?
"Would you like to hear today's specials?"
Not if you'd like to keep your spleen.
Honestly, I'm unsure if investing is a wise move right now. Take note of how frequently things fail. As I still have some time before I retire, I'm still looking for a better strategy to invest my money despite reading charts and predictions from well-known investors from the past and present. In order to generate passive income, I want to build a solid and reliable portfolio.
The issue is this! Individuals with little to no experience in the stock market commonly try to buy on their own. Prior to acting appropriately and getting in touch with financial advisor Ruth Loralann Brennan in the US, I had the notion, but things have changed since then. I began seeing incredible returns on my investment.
@Davies McCamey Keep an eye on Ruth; she received a lot of attention in 2020. I'm not sure whether I have the go-ahead to speak, but okay. She oversees my portfolio and serves as my mentor.
@@danieljackson87 I looked up Ruth’s profile online since I was curious. I saw her website, her credentials, and how tight she came across. At first, I thought this was overblown nonsense.
@@andrewlogan7737 Bullshit
I made a buck off of the SVB crash. Six months ago, i had quite an accurate prediction of its collapse. Speculation really does get you paid.😉
Does anyone else realize Michael Burry wears the exact same t-shirt through the entire movie? And this movie takes place over like 3-4 years LoL 😂🤣
It’s a very common trait of people with Aspergers. I was diagnosed with a mild form of it when I was young, and while I don’t wear the same things every day, I do have a small group of clothes that I can rotate through in like a week and I always prefer soft t shirts and shorts like he’s wearing.
There was a kid I went to high school with though that had what seemed liked a much more severe form of Aspergers, and he literally wore the same thing as Burry to school, every single day: blue t shirt, black athletic shorts, and flips flops. Every single day.
It's his trading shirt.
You don't have a trading shirt?
I was the same thing well into my teenage years. I would sleep and go to school in the same clothes.
The contracts are voided! The contracts are voided!
one of my favorite scenes from the movie.
That’s actually genius to have master of puppets playing. It fits with his character but it also represents him as he is the one who is largely pulling the strings on this shit.
Even though he was right, he bet way too much on it. There is a fine line between picking an investment and allocating to it, and going all in.
The line between genius and crazy is extremely thin
Well it paid off so no he didn't bet too much on it. That's why he was the fund manager and they made a movie about his work and you're an Internet expert critiquing on CZcams videos.
@@cerberus1321 A bet paying off doesn't retroactively make it a good bet... You can bet way too much and just get lucky. Obviously Burry's investment thesis was correct. But it's irresponsible to take such a large position with relatively limited capital because NO ONE can see the future, no matter what.
@@cerberus1321 this comment gives me hope
@@lucasmeredith4017 You are not Burry, don't take the same insane gamble that he did unless you're absolutely 100% sure of it.
This scene is actually hilarious
The dude freaking out haha
The little angry guys kills it. Superb acting in this entire scene, you feel like that is exactly how it went in real life! Great movie
he feels a lot bigger than he actually is
100% - great acting, the desperation really came through.
he's not little the other guy is 6'2 lol
He literally brought a heckler hype man with him. 😂 Unfortunately his bark was bigger than his bite. For real though, he added a lot of energy and comedy to this scene.
Lol yes, Wayne Péré if you want to google him. Made me laugh my ass off 😅
lmfao the way he says "hey lawrence!!!" like he's coming to have some crumpets and tea
Lmao
I love how while the major investors are definitely condescending, they're not immediately dismissive. They clarify and asked good questions. It's not like either side is wrong here -- making a bet is one thing but then to have everyone put in the same risk is a big undertaking that a lot of people may be uncomfortable with. If there's anything I've realized, this is a clever parallel with the CDO manager that Mark Baum meets who "represents the investor" but "assumes no risk." We something similar here.
Boy if anyone told me that one of these actors was going to play Dick Cheney I wouldn't have guessed that it would be Christian Bale.
Great movie!
Letts was Lawrence and Bale was Burry in 'The Big Short' and then Bale was Miles and Letts was Ford in 'Ford vs Ferrari'. Quite a turn around for two incredible actors performing together two different awesome roles each in two great movies.
Burry named his company after the book Bale is reading here-The Scions of Shannara.
THE CONTRACTS ARE VOIDED. THE CONTRACTS ARE VOIDED. Lmao that was hilarious
The actors cast in this scene and the entire film are so F-ing great -
Who came here after gamestop?
The contracts are voided!?!?!?! the contracts are voided?!?!?!?!
I just wanna hear "the contracts are voided?!?!?!" as my alarm... wont snooze that anytime soon :))
Or ringtone!
It's hard for people to believe you when you think your right. It's even harder for people to say they're sorry for not believing you when you were right.
Most people don't look at the markets, but they should! Because not only are there gaping flaws but there's also ridiculously large amounts of corruption at every layer! Hey Lawrence!
aAaa aAaa YES IT IS
You can't make profit out of a corruption market if you dont have inside information . Also if you make profit out of that market , your expense should also increase a lots ( bribe fee , fee for information blah blah )
TRY GETTING A MEETING WITH ALAN GREENSPAN NOW YOU FUCKING STUPID BASTARD!
It was a very risky bet tbh. If investors had withdrawn their money, he wouldn't have had enough to remargin fees so the shorts would have been voided. Like wtf
So investors did not only depend on this one short position, they were also dependend on the decision of the other investors. From portfolio theory perspective it was totally insane. 500m aum and 80m fees p.a. for a short position. thats just insane. And keep in mind that people tend to overrate their ability to predict future outcomes... e.g. trump presidency or the Brexit. No one in the city actually believed it might happen and yet here we are
Loved the acting in this movie. Just fucking fantastic.
The script and acting was superb and hilarious 🤣
I love how Dr. Burry calmly explained the risks associated with withdrawing money early from the fund 😀
Good screenplays demonstrate one of four emotions in each scene: Anger, sadness, happiness or anxiety. This scene works so well because it has two of the four: Anger and anxiety. Love the way the actors work off each other. Bale is such a good actor because he lifts the other actors up. Watch how he turns around so he doesn't have to face them in the scene.
I love the "hair cut at Supercuts and doesn't wear shoes" line. Yeah, most geniuses are not trying to doll up to present something. They just are.
and the guy who said that has a worse haircut than Burry
Presentation is important. How you present yourself shows your self respect. It is not important to geniuses. But to the rest of us normal folk it is.
czcams.com/video/x_9hYMVVv_Q/video.html
@@naughtyskywalker9292 not as if he dressed or smelled like he was homeless, so i don't think there was a self-respect problem going on.
tho as you point out, at least one of the panicked men, it was important.
my own question: how else would this scene have played out if he was dressed to the 9s in a suit?
My wife's first boyfriend at Princeton was a crazy genius who aced his math and physics classes without studying. He also wore the same clothes for days on end and stunk with the worst body odor she had ever been around.
I come back to watch this just for the part when they realize that the contracts are voided.
The investor was absolutely correct. Being right and too early is the same as being wrong.
I was shorting Tesla late 2021 thinking it HAD to go down. It went up for a bit, I got out, then in completely crashed in 2022. I was right, just early and ended up losing money instead of making a fortune.
@@mattwalter6207 sorry to hear that, hope your other investments proved fruitful.
Underrated comment... that was the whole point of this film, it's easy to be chicken little, it's HARD to be chicken little at just the right time
Best scene of the movie so far
That minion banker that goes in the office is so annoying with his rage. He’s basically Lawrence’s anger translator 😂
I know, just yelling and swearing if i was Michael I'd ask him to stfu
The big thing most people entirely miss out on was not that he "made a big bet", but that the fund very likely had a specific investment mandate (think: written paper saying let us invest your money, and we promise to invest it in this specific way) and that he violated it. This likely breach of fiduciary duty not only can be grounds for a lawsuit (thus the "I'm suing" scene), it can also get you in serious trouble with the government.
Yea, but then he made people a lot of money, so I guess they didn't care so much about suing afterwards :D
Wow, " movies...."
@@bogdanpatru2742 I heard they tried suing him anyways, but ending up losing.
1:23 the humility as he speaks, it’s one of the greatest moments of the movie
Huh... it just seemed totally fake to me, like a rehearsed speech. I have know a lot of genuinely awkward, semi-autistic, and fully autistic people though, so I know how those kind of people present.
For one thing, they don't give speeches about how they don't get people, because their social skills are so poor they don't understand when people don't get them.
Best line of the movie: "Actually no one can see a BUHBLE, that's what makes it a BUHBLE"
Just like DFV, people doubted him like crazy in his first YOLO post.
It is happening all over again except this time it is even more glorious
The guy saying "the contracts are voided" at 3:33 is hilarious.
3:28 when I get my report card back
rofl
😂😂
Bruh I’m weak 😭
😂😂😂
I wish I could like this more than once. I periodically come back to this video and scroll through the comments just for this one. It's one of my absolute favorites.
I like to dissect girls. Did you know that I'm utterly insane?
Not as insane as the guy who bet 1.3 billion on a housing crash prediction.
not insane. genius in a way 99.9 percent cant even comprehend. And big brass balls to go with it
It's not genius. It was only a few months from swallowing his whole fund.
As the 2nd guy says, early is same thing as wrong.
That mathematical certainty, was false if his capitol falls too far, and the largest 2 things to hurt the fund is beyond Dr Burry's control or prediction.
Investor nervousness and timing of the date the contract payments turn around.
So, it's not really a certainty. That is the point of this scene actually.
Pumpkin you're dating a tumbling, tumbling dickweed.
well, anyone investing in these hedge funds aren't putting their skin in the game. this scene tries to show that these two men actually had their real assets to burn. any cash that was flowed into that fund was cash that could be put to risk. any asset manager that will knowingly let a limited partner put his skin and shirt on the line wont allow it, and if he does, he should accept the consequences.
perfect casting of investors and excellent actors -
0:17 The real Michael Burry
"Home prices are soaring, it means they're debt not assets." Sounds familiar...
Bet these guys felt like total pricks when the market crashed given how they treated him. But knowing typical CEOs in the finance industry, they probably collected their earnings without even as much as thank you to Dr. Burry.
That's indeed what happened. Dr Burry stated, after everything settled and everyone collected their handsome reward. Everything became quiet, no e-mails, phone calls, text messages of an apology.
it's understandable though.. can you imagine if you give 10 millions to a firm to invest but the firm use all of your money to bet against the housing market.. mind you that this was when the housing market was strong so why woulf you bet your money against it? you'd be safer if you invest your money in FD earning 2% you'd still earn a guaranteed profit of 200k a year.. they are handsomely rewarded after it all settled but all they know is during the 2 or more years the money that they invested in the firm is all gone
@Harryaceflyer I was working at a civil engineering firm in Southern California in the years before the crash. The firm partners were already calling it. They said the moment they start getting clients that have no business being in this arena, they know the bubble is about to burst. In short, when the market becomes so lucrative that anyone thinks they can have a go at land development and real estate investment, the end is near...
Sadly, as much as they called it year or two in advance, the crash completely decimated the firm. The entire company went under. They got used to the annual revenues that were in the millions and when the phone suddenly stopped ringing, all was lost in the blink of an eye.
Whatisthisplace Whatisthisplace and same thing with bitcoin. I’ve known about it and it’s swings since 2012 but everybody decideds to pull out loans and ride it up, putting life savings on it. It won’t last, boom they bust, smart investors caught the ride up and shorted the way down.
It was a very risky bet tbh. If investors had withdrawn their money, he wouldn't have had enough to remargin fees so the shorts would have been voided. Like wtf
Every time I watch a scene of this movie on CZcams, I'm disappointed that the clip ends.
Even without any prior knowledge, this is a THRILLER.
This is a great scene because the movie can make it "look easy" but as Burry tells him, if the cash position gets too low, the bank keeps all of it, and the short is worthless. So with 500 million, and premiums at 100 mill a year, they had less than five years before they hit that margin call (when banks begin seizing assets) for their bet to payoff, for markets to react to imploding bond valuations... but there is no guarantee that an asset traded in the marketplace will ever trade at what you think it is truly worth... it is an assumption you make... he got lucky... the coin came up heads rather than tail, as the markets finally reacted to the accounting fraud.. woke up. William Shatner (wearing a disguise) at a ComicCon Convention : "You paid how much for that Spock action figure? He's not worth that much!"
To use simpler language : shorting selling,
is akin to buying
insurance against a catastrophic event - as
long as you keep paying your premiums, if
and when the unfortunate event happens,
you collect. But , if you miss an insurance
premium , and the disaster hits, the insurance
company owes you nothing because missing
an insurance premium payment, voids the
contract. czcams.com/video/-AdGnADEqII/video.html
He knew he was right tho, it wasnt a gamble
@@enriquedelacal2814 "I might be early but I'm not wrong"
"It's the same thing"
That's the point of this comment. He thought the market would collapse earlier than it happened. And if he was even earlier on that trade he would lost all the money, no matter how right he would be. I think even real Burry said something like being too risky with it.
@@enriquedelacal2814 In the world of fiance and trading it's always a gamble.
It wasn't accounting fraud, it was bank fraud
3:31 😂 you can hear the desperation in his voice
dude standing up acts like an anger translator
He's a lawyer so, yeah.
He's so fucking annoying, I'd ask him to lower his voice tone at least Lawrence is willing to listen
One of my favorite scenes from the movie
This is the most iconic scene of the movie.
Lawrence's anger and fear are completely justified
in the end Mike Burry was smart AND lucky......he guessed right that a housing crash was coming, but he could've just as easily gotten the timing wrong and lost most of the fund to the banks
he knew when the adjustable rates kicked in on the loans...
Josh Merad
he took a huge gamble on whether enough people would default fast enough after the rates spiked.....
all these guys shorting the market were paying huge premiums or margins to the investment banks to maintain their credit default swaps, and they all ran a huge risk of not having enough money to hold onto the swaps until the bonds started failing
and Burry certainly didn't consider how badly the banks would try to cheat him once the market started to tank or how much his own investors would threaten his short position
so in the end Burry was smart enough to make the bet and lucky enough to be able to hold onto it to see it pay off
lars orloff fair enough. Interesting
Josh Merad
I recommend the reading the book. I had to go slowly and reread in a lot of places, but it's fascinating
I was a homeowner at the time in one of the biggest housing bubble ground zeroes in the country in California, and this book put a lot of what was happening around me into perspective
lars orloff I've been tempted to but I sort of felt it was a waste of time since I've already seen the film, but maybe the extra depth in the book will make it worth it still?
3:44 me when I return a broken product.
😂😂
I just noticed at 0:16 the real Dr Michael Burry is standing there on the phone 😂 Well played, sir.
"The contracts are voided? THE CONTRACTS ARE VOIDED?!" XD
Love how the dude says ‘mothafucka’ at 3:32
Those two investors are everyone long on Tesla right now.
Awesome soundtrack!!!
The acting is soooooo good !