Michael Burry: My Man Week Man of the Hour
He may not fit the title of Warrior or King, and neither is he somebody you’d want to go and have a rager with, but if Joel Greenblatt's wanting to invest with you after reading your blog doesn’t make you the man, then I don’t know what does.
Here he is at his Alma Mater, talking about the financial crisis, its history and his solutions as well as Benocide, Fiat money, and what he sees going forward in the current state of the economy.
Most of what he’s saying isn’t really new, at this point we’re all surrounded by bears but nevertheless, it still is a must see.
Anyways, without further ado, monkeys I present you my Man Week Man of the Hour; Dr. Michael Burry.
Video after the jump.
I know some of you may not agree with his solutions, but seriously, can anyone of you tell me he's wrong?
Have a good one WSO.
I've watched WSO develop over the years and just wanted to say that you guys are doing a fantastic job with this site.
Not educated enough to comment on this particular video, just absorbing as much as I can.
Keep up the good work!
"the toxic twins: fiat currency and an activist FED" - love it Homeownership gets more attention then it should. People need to realize that the high housing prices associated with pre-recession boom were only a result of cheap interest rates and government policies that encouraged homeownership paired with willingness by banks to lend to people who couldn't afford to pay off their mortgage if housing prices didn't double every couple years.
sorry about the double post. my browser is wigging out
Burry just took delivery of an 18-wheeler full of nickels to melt down and sell for scrap. Turns out the base metal in a nickel is actually worth over 7 cents. The guy knows how to think outside the box.
Did he actually do that? I thought that was Kyle Bass's idea...
Isn't it a federal offense and highly illegal to do this?
oh grow up.
In fact it is. He had to get special clearance from the Treasury to do it. Treasury actually assembled the shipment for him.
According to Michael Lewis he did. And they're practically neighbors, so I guess he'd know.
He's also heavily investing in almond farms in California (as of 2010) as an alternative to investing in water. Quite an abstract thinker.
So the future is in alternative investment?? Most school in US and the rest of world is teaching bond and equity investments. Or they will teach you financial engineering. what about AI? Anyone knows about CAIA? Do you think it is worth to pursue such a designation?
I don't think it takes someone creative to realize that there is more nickel in nickels than face value and then act on it. The fact that he supposedly got clearance to do that is amazing, if not unbelieveable. Hell, if I had that kind of capital I would've done that a long time ago as many people have been doing with pre -'82 copper pennies.
When I started out bank roll hunting in college, I wanted to keep every single pre-'82 copper but couldn't afford to. If you frequent EBay, you might have notice 50lb's bags of those pennies selling for almost double if not more in some cases. I had someone earlier this week that wanted to sell me 500lb's of those and I seriously considered it.
Either way, thanks for the video.
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You think you can't corner the bottled-water market? Check out what Boon Pickens has been doing about that for the last few years. I'm not familiar with the details but I do know that he has angered A LOT of home and land owners in Texas.
Was just reading on this, so far I'm really impressed on how he's doing it. Can't put an old raider down.
That's only the iceberg of that issue as well Jorge. The entire Bush family owns similar land except in one of the South American countries. I think it's either Uruguay or Argentina. Largest underground water aquifers in the world I think, but don't quote me on it. The idea is the same though as what Pickens is busy with except in Texas. Let's also not forget about water just dissapearing from the Great Lakes as well. It's been awhile since I paid attention to any of this so I might be off on somethings, I'm just recalling things off the top of my head but it makes you think either way.
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