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Big Short Movie Coming Soon

big-short-pitt-castBig Short movie based on Michael Lewis book of the same name (undoubtedly the best book by Michael) is a riveting inside perspective of behind the scene look at Wall Street in days leading to credit crises. The movie is an all star cast looks to be a winner and sure would turn out to be as entertaining and informative as the book.

Insightful and full of funny anecdotes, Big Short gives glimpse of how among all the chaos and recklessness during the days leading to credit crises in 2008, some people stood out for their bet against the doomsday…Surprising among the investment banks, it is Deutsche Bank which was the first among all major banks  for its accurate assessment of subprime mortgages, CDOs and housing market.

dbpix-jain-blog225Anshu Jain was the head of the investment banking at Deutsche Bank at that point of time and would go on to become the CEO. Anshu Jain is credited with making Deutsche Bank, one of the bulge bracket Investment Banks in the world. Anshu Jain is an Indian, who followed his wife to America for further studies.  He is widely considered and credited  as one of the finest bankers of our generation. (pic nytimes.com)

The Quiz question is which bank is known for innovating CDOs and the famous trader who spearheaded the team which …

In this scene Greg Lippmann, trader from Deutsche Bank along with his quantitative analyst and math genius Eugene Xu. Eugene a ABS ( asset backed securities ..CDOs are part of ABS) bond dealer whom Greg called a genius who was “responsible for every piece of hard data” in his presentations. Eugene presently works for a hedge fund according to my knowledge. 

This movie is a must watch not only for its great star cast ( looking forward to especially Steve Carell) but also to get a comprehensive understanding of credit crises.

Many economists could say that according to economics, subprime crises should not have occurred. The markets should have worked as a self correcting mechanism. Did it or maybe some influential people deliberately prevented the markets from doing so…

BUT THEN ECONOMICS IS NOT LAW OF NATURE…What do you say… 

The movie is releasing in January in India although it was released in America in December