Michael Burry – The Financial Crisis WAS Foreseeable AND Preventable

See Michael Burry, subject of Michael Lewis’ best-selling book “The Big Short” give ac ommencement speech at UCLA. Covered topics:

  • He was not “lucky” in his bet against financials in 2007-2008, he asked a lot of QUESTIONS
  • Government agents investigated him after he made his money (obviously government types were angry over his success)
  • It is better to risk short term for long term gain than to do wrong for short term gain and experience long term regret
  • graduates are inheriting another coming crash and a debt default/currency devaluation

Among other things:

On a side note – market made a heroic attempt to erase today’s losses and the DOW almost came back to breakeven. The market isn’t moving up but also doesn’t want to see to break support lower. We could be in for a short term rally here. Who knows!