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by damian2000
5230 days ago
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A better book is "The Big Short" (http://en.wikipedia.org/wiki/The_Big_Short) its got some incredible stories regarding the market for CDOs and the GFC. A few people in the know actually saw it happening, bet against the whole system, and won. |
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> A few people in the know actually saw it happening...
IMO you didn't need inside information to understand that the American real estate market was a bubble as it was operating in plain sight. Sure if you want to bet against credit default swaps, it helps if you have a hedge fund behind you, but anecdotally I knew a number of people who didn't buy into the property bubble on the way up, but saved their cash and bought a house at a reasonable price after the bubble popped.
The Australian real estate is in a similar bubble, but it's remarkable to me how few people recognize that here.