How Michael Burry Predicted the 2008 Housing Crisis (The Big Short Explained)

In 2008, Michael Burry bet against the housing market... and won. Depicted in The Big Short by Christian Bale, Burry was one of the first investors to spot the weakness in US mortgage bonds in the early 2000's, and by buying credit default swaps in he height of the bubble, he made over $700 million in the crisis that followed. ★ ★ IN PARTNERSHIP WITH STAKE ★ ★ 💰Get $10 FREE credit and a FREE U.S. stock, use code NewMoney: https://on.hellostake.com/newmoney Stake Rewards T&Cs apply: https://hellostake.com/au/legal/stake-aus-rewards-terms-conditions ★ ★ LEARN TO INVEST ★ ★ Get started investing on the right foot with our step-by-step investing courses: https://newmoney.education/ ★ ★ CONTENTS ★ ★ 0:00 Michael Burry's Big Bet 1:38 Mortgage-Backed Securities 5:50 How Mortgages Blew Up the Economy 15:20 How Burry Made Millions with Credit Default Swaps My Podcast: https://www.youtube.com/c/TheYoungInvestorsPodcast Brandon van der Kolk is authorised to provide general financial product advice in Australia and is an Authorised Representative (Number 1305795) of Guideway Financial Services Pty Ltd, AFSL Number 420367. Any advice is general & does not consider your financial situation, needs or objectives so consider whether it's appropriate for you. Read Brandon's Financial Services Guide available from https://guideway.com.au/NewMoney.pdf. Past performance is not a reliable indicator of future investment returns. Contact email: [email protected] Note: I do not have the ability to answer all emails, but know that each email is read. If enquiring about sponsorship, New Money is currently only seeking sponsorship from established brands.