First of all, for those who have seen the movie, what did you think?
I had already seen Margin Call and The Company Men, so I must admit I was getting a little tired of the topic and not as eager to watch the movie as I should've been. However, I found that I really enjoyed it and had some laughs throughout, and keep trying to re-watch some of the scenes in youtube (haven't found much so far). My favourite scenes have to be where Mark Baum asks his blunt questions during the conference, and when he has dinner with Mr Chau in Vegas. Loved those two scenes lol.
Ok, now to some specific questions:
1. Michael Burry predicted the crash of the housing market by analysing some raw data. Is this type of data available for the public, and if so, where would we be able to find it? If not, is there something reliable and close to it?
2. How did Burry know that the adjustable rates would kick in from 2007 onwards?
3. Does the US still have private mortgage bonds that aren't guaranteed by the government? What about Australia?
4. From what I understand of the use of credit default swaps, were they just created to allow parties to bet on a particular thing? So for example (if I had the money), could I just approach a bank and bet on some outcome, and if they deemed it in their favour and thought I was an idiot, they'd draft an agreement for it? It doesn't actually add any value to anything does it, other than each party thinking they can make some money out of it?
Hope we can get some good discussion going about the movie and the related topics.