Trader asks famed ‘Big Short’ investor for some tips on playing the stock market, and he actually got a response
Sometimes, Twitter delivers.
Of course, it’s not often a random account gets a response from somebody with a recognizable name on Wall Street. Try asking Warren Buffet or Jeff Bezos for some insight.
Every once in awhile, however, it does happen.
Now, Michael Burry, in terms of recognizability, is no Oracle of Omaha, but he did enjoy a Hollywood moment, when his timely 2007 subprime mortgage call not only delivered huge profits, but also provided the storyline to the Oscar-winning film, “The Big Short.”
Since then, he’s garnered a solid six-figure following on Twitter
So when “Flippenem” asked for some good books on investing, he had to think an answer was a long shot. But Burry came back with a few recommendations, and then added a bit of advice that sheds some light on the studious approach he takes to evaluating potential opportunities.
Here’s the exchange:
“Liar’s Poker,” which gives an inside glimpse of Salomon Brothers in the mid-1980s, was written by Michael Lewis, who also wrote “The Big Short.” The Buffett book needs no explanation, of course. Then there’s “When Genius Failed,” about the rise and fall of Long-Term Capital Management. And lastly, “All the Devils Are Here,” which takes an inside look at the financial crisis.
“Flippenem” shared his exchange on Reddit, where he said he took Burry’s advice.
“Since then I’ve been tearing through 10ks and its definitely helpful to understand the subtle differences between companies,” he wrote. I also read “Financial Shenanigans: How to Detect Accounting Gimmicks and Fraud in Financial Reports,” in order to understand shady accounting.
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