I'm really enjoying The Big Short (excellent excerpt here: http://markenomics.com/item?id=750 ), but I'm surprised that Lewis isn't more upfront about his own misjudgments as he makes the talk show rounds.
>...but I'm surprised that Lewis isn't more upfront about his own misjudgments as he makes the talk show rounds.
Well, he's trying to sell books.
I imagine, at least for the general ("talk-show") population, exposing his misjudgments would probably hinder book sales. (Even though, I/we'd appreciate it if he did.)
Thanks for sharing this. I hadn't read Lewis' Bloomberg piece that is linked to in this article. It was interesting, to say the least.
From the Bloomberg article:
"And if they really believe the markets mispriced risk, or were about to adjust, they must also believe they could make vast sums of money if they quit their day jobs and opened a hedge fund to take the other side of stupid trades. But they don't really believe that, or at least some of them would be off doing it, rather than spilling the beans to Bloomberg News."
Well, some "little" guys did just that, which is whom he seems to feature in his new book (though, I have not read it yet).
Lewis is a good story teller, but I'd question any of his views or advice with regards to financial markets, as he does not have a successful public investing record (that I know of) which would make him a credible source.
