The Big Short Quote
Michael Burry: It's only a matter of time before someone else sees this investment. We have to act now.
Lawrence Fields: And how do you know these bonds are built on subprime crap? Aren't they filled with hundreds of pages of mortgages?
Michael Burry: I read them.
Lawrence Fields: You read them? No one reads them. Only the lawyers who put them together read them.
Michael Burry: I don't think they even know what they made. The whole housing market is propped up on these bad loans. It's a time bomb, and I want to short it.
Lawrence Fields: Through what instrument, Michael? There are no insurance contracts or options for mortgage bonds! The bonds are too stable. No one would buy them.
Michael Burry: I'm going to get a bank to make me one. Then I'm going to buy a ton of them.
Lawrence Fields: And how do you know these bonds are built on subprime crap? Aren't they filled with hundreds of pages of mortgages?
Michael Burry: I read them.
Lawrence Fields: You read them? No one reads them. Only the lawyers who put them together read them.
Michael Burry: I don't think they even know what they made. The whole housing market is propped up on these bad loans. It's a time bomb, and I want to short it.
Lawrence Fields: Through what instrument, Michael? There are no insurance contracts or options for mortgage bonds! The bonds are too stable. No one would buy them.
Michael Burry: I'm going to get a bank to make me one. Then I'm going to buy a ton of them.
Movie: The Big Short
