大空头
The big short
Michael Lewis · 初版 2010 年
99人推荐
201位读者提及
234次提及
为什么值得读
- 详述几位提前洞见危机并成功获利的人物
- 揭露银行高管利用免费支票账户牟利的内幕
- 叙事流畅好读且视角极具启发性
《New York Times》畅销榜榜首之作：以丰富的人物刻画和黑色幽默，精彩记述了美国经济如何被推向深渊。当 2008 年秋季美国股市崩盘尽人皆知时，这早已是旧闻。真正的崩盘——那场无声的崩盘——在过去一年里早已悄然发生于阳光照不到、SEC 甚至不敢或不屑涉足的怪异次级市场中：在债券和房地产衍生品市场里，极客们发明了晦涩难懂的证券，通过无法偿还其债务的中下阶层美国人的痛苦来谋取暴利。
Hacker News 上怎么说
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……在那里。如果我想避开那 5 美元倒很容易——换用我的信用卡就行了。但那些信用额度不够、办不下信用卡的人现在就得被薅两遍羊毛。我在《大空头》（迈克尔·刘易斯写的一本关于金融危机的神作）里读过一段很有意思的话，讲一个高管洋洋自得地吹嘘他们靠“免费支票”（Free Checking）账户赚了多少钱。远比他们靠……赚得多。
…there. If I want to avoid the $5 that's easy- I'll just switch to my credit card. But people who don't have enough credit to get a credit card now get punished twice. I read a fascinating passage in The Big Short (an excellent book on the financial crisis by Michael Lewis) that told the story of a top banking exec boasting about the amount of money they made on "Free Checking" accounts. Far more than they made…
……“你都跟我们念叨这问题有多严重念叨到第四个年头了吧？要是真像你说得那么糟，这事儿不早就发生了/我们怎么可能还赚这么多钱？”如果你去读读迈克尔·刘易斯的《大空头》，就会看到对五六个人的精彩人物刻画，他们不仅预见到了危机的到来，而且时机抓得极准，赚得盆满钵满。这种问题光靠说服一个“大人物”是解决不了的……
…on year number four of telling us what a problem this will be? Surely if it was as bad as you say, it would have happened already/we wouldn't be making all this money." If you read Michael Lewis' The Big Short, you'll get a nice profile of five or six guys who not only saw this coming, but actually timed it perfectly and made fortunes. You can't solve problems like these by convincing one "important" person…
……对于消费者来说，高频交易（HFT）根本不是我的竞争对手，而是我的订单撮合者。大量股票交易的价格其实都被做市商“改善”了，目的就是为了吃下这些交易流。我很喜欢迈克尔·刘易斯，《大空头》读起来非常过瘾。他的书我都读过。我还在杂货店偶遇过他本人呢。但《快闪大盗》（Flash Boys）纯属扯淡。就算你信了他那一套，被“颠覆”的那个也绝不是散户……
…consumer, HFT is not my competition it is my order facilitator. A huge share of equity trades get their price IMPROVED by the market makers in order to capture the trade flow. I love Michael Lewis. The Big Short was a very enjoyable read. I've read all of his stuff. I've run into the guy at the grocery store. But Flash Boys was just silly. Even if you believe it, the guy getting "disrupted" was not a retail trader…
……它是如何运作的以及为谁运作；阿瑟·莱维特（2003）《直面华尔街：如何为你的财务未来而战》（Take on the Street）；迈克尔·刘易斯（1989）《说谎者的扑克牌：华尔街的浮华与崩溃》（Liar's Poker）；_________（2010）《大空头：末日机器内部》（Big Short）。统计学类：伊恩·艾尔斯（2007）《超级数字天才：为什么数字化思考是聪明的新法则》（Super Crunchers）；彼得·伯恩斯坦（1996）《与天为敌：风险的奇妙故事》（Against the Gods）；卡尼曼……
…It Works and for Whom Levitt, Arthur (2003) Take on the Street: How to Fight for Your Financial Future Lewis, Michael (1989) Liar's Poker: Rising Through the Wreckage on Wall Street _________ (2010) Big Short: Inside the Doomsday Machine STATISTICS Ayres, Ian (2007) Super Crunchers: Why Thinking by Numbers is the New Way to Be Smart Bernstein, Peter (1996) Against the Gods: Remarkable Story of Risk Kahneman,…
有好几个人当年都预见到了 CDO 市场上正在酝酿的问题。迈克尔·刘易斯的《大空头》一书对其中的不少人进行了详尽的刻画。跟往常一样，哪怕有人明知道大众普遍接受的常识纯属胡扯，也没人会听。脑海中浮现出的另一条评论是……
There are a number of people who foresaw the problems brewing in the CDO market. The book "The Big Short" by Michael Lewis provides a detailed portrait of a number of them. As usual, even when someone knows that the generally accepted wisdom is bunk, no one listens. Another comment that comes to mind is…
……收购方和评级机构。但是——这一点非常关键——评级机构在他们的评级方法论上存在失职。聪明的买家是能看出问题的。《大空头》这本书对这方面进行了相当详细的讨论。
…the purchases and the ratings agencies. BUT - and this is pretty important - the ratings agencies were negligent in their rating methodology. Intelligent buyers could see the problems. The book The Big Short covers this in some detail.