A document I occasionally come back to: the presentation from Deutsche Bank on shorting subprime mortgages back in 2007. (If you watched the Big Short, this is the actual IRL bit corresponding to the Jenga scene. http://static1.squarespace.com/static/56e34fd9e707eb512223f372/56e89b00fd211959539d959d/56e89b02fd211959539d9669/1458084610683/2007_Subprime_Shorting-Home-Equity-Mezzanine-Tranches.pdf?format=original … )
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I don't say this to knock reporters. Michael Lewis, for example, is a sorta-kinda reporter, and the Big Short is a riveting dramatization of this story and seems to get most of the consequential details right. But then he wrote Flash Boys, which is... at least a dramatization.
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a thought which makes me feel less broken up about it is knowing that every now and then, the person who's done that much time on slide no. 7 is us
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