Jim Letourneau's Blog

Retired Life

Investing, Technology, Travel, Geology, Music, Golf. I think that covers it.

Subprime Winner Michael Burry (and what he's been reading)

There were very few winners in the recent market crash but Michael Lewis tracked many of them down for his latest book The Big Short: Inside the Doomsday Machine.

In the lead up to the book's release, Vanity Fair featured an excerpt that described Michael Burry's evolution from medicine to stocks to figuring out a way to short the subprime time bomb. It includes a photo of Burry in his home office with a few piles of books laying around. I could identify a few of them and it occurred to me to try and figure out what they all were. Before I started that project, I decided to see if someone else had already done it. Fortunately someone had!

1.) Creative Cash Flow Reporting: Uncovering Sustainable Financial Performance

2.) Against the Gods: The Remarkable Story of Risk

3.) Benjamin Graham: The Memoirs of the Dean of Wall Street

4.) Poor Charlie’s Almanack: The Wit and Wisdom of Charles T. Munger, Expanded Third Edition

5.) Atlas Shrugged

6.) Security Analysis: The Classic 1934 Edition

7.) Guns, Germs, and Steel: The Fates of Human Societies

8.) America’s Great Depression

9.) Mistakes Were Made (But Not by Me): Why We Justify Foolish Beliefs, Bad Decisions, and Hurtful Acts

10.) Structured Credit Products: Credit Derivatives and Synthetic Securitization

11.) Why Stocks Go Up (and Down)

Book list via The Wall Street Informer