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Three separate but parallel stories of the U.S mortgage housing crisis of 2005 are told. Michael Burry, an eccentric ex-physician turned one-eyed Scion Capital hedge fund manager, has traded traditional office attire for shorts, bare feet and a Supercuts haircut. He believes that the US housing market is built on a bubble that will burst within the next few years. Autonomy within the company allows Burry to do largely as he pleases, so Burry proceeds to bet against the housing market with the banks, who are more than happy to accept his proposal for something that has never happened in American history. The banks believe that Burry is a crackpot and therefore are confident in that they will win the deal. Jared Vennett with Deutschebank gets wind of what Burry is doing and, as an investor believes he too can cash in on Burrys beliefs. An errant telephone call to FrontPoint Partners gets this information into the hands of Mark Baum, an idealist who is fed up with the corruption in the financial industry. Baum and his associates, who work at an arms length under Morgan Stanley, decide to join forces with Vennett despite not totally trusting him. In addition to Burrys information, they further believe that most of the mortgages are overrated by the bond agencies, with the banks collating all the sub-prime mortgages under AAA packages. Charlie Geller and Jamie Shipley, who are minor players in a $30 million start-up garage company called Brownfield, get a hold of Vennetts prospectus on the matter. Wanting in on the action but not having the official clout to play, they decide to call an old "friend", retired investment banker Ben Rickert, to help out. All three of these groups work on the premise that the banks are stupid and dont know whats going on, while for them to win, the general economy has to lose, which means the suffering of the general investor who trusts the financial institutions. That latter aspect may not sit well with Baum. Some of these assumptions may be incorrect and may be far more manipulative than they could have ever imagined, which in turn may throw curves into the process.
Based on the book by Michael Lewis (writer of Moneyball, Liars Poker and Flash Boys, among others), the true story of a handful of investors who bet against the US mortgage market in 2006-7. Through their own research they discovered that the US mortgage backed securities market was a bubble about to burst, and they invested accordingly. What they didnt initially know was how structurally flawed the MBS system was, the level of corruption in the market...and the impact on the average person when the bubble burst.
Christian Bale
Michael Burry
Steve Carell
Mark Baum
Ryan Gosling
Jared Vennett
Brad Pitt
Ben Rickert
Rudy Eisenzopf
Lewis Ranieri
Casey Groves
Fund Manager
Charlie Talbert
Lewis Bond Trader
Harold Gervais
Lewis Bond Trader
Maria Frangos
Exotic Dancer
Hunter Burke
Analyst
Bernard Hocke
Coach
Shauna Rappold
Michael Burry's Mom
Brandon Stacy
Michael Burry's Dad
Aiden Flowers
Young Michael Burry
Peter Epstein
Paul Baum
Anthony Marble
Therapy Businessman
Silas Cooper
Therapy Businessman
Leslie Castay
Therapist
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