суббота, 9 января 2016 г.

Learn from Billionaire Investor Michael Burry - His Reading List

“We turned the tables on Wall Street and I became the 1% in a way I never imagined sitting where you sit today. I had bet against America and won.”

-Michael Burry, commencement address to economics graduates at UCLA, his alma mater.


One of the most interesting character in the movie The Big Short is Michael Burry who has been portrayed by Christian Bale also happens to be a real person. The former neurologist with a glass eye who loves heavy metal is a very intriguing guy to say the least. Burry has described his "natural state" as an outsider who "just likes to find my own ideas", saying, "no matter what group I'm in or where I am, I've always felt like I'm outside the group, and I've always been analyzing the group."
Burry was among a small group of money managers to recognize the structural flaws in the housing bubble and exploit it by wagering on its collapse. Through his former firm Scion, founded in 2000, Burry bought securities that would increase in value as subprime mortgage loans plummeted. He made $100 million for himself and $725 million for his investors, according to Lewis. Burry closed Scion in 2008. His fund returned 61% annualized between 2000 and 2008, when he closed the fund.



Here is a list of books recommended by Michael Burry

The Intelligent Investor by Benjamin Graham and David Dodd

The greatest investment advisor of the twentieth century, Benjamin Graham, taught and inspired people worldwide. Graham's philosophy of "value investing" -- which shields investors from substantial error and teaches them to develop long-term strategies -- has made The Intelligent Investor the stock market bible ever since its original publication in 1949.

Common Stocks and Uncommon Profits and Other Writings by Philip Fisher
 

Widely respected and admired, Philip Fisher is among the most influential investors of all time. His investment philosophies, introduced almost forty years ago, are not only studied and applied by today's financiers and investors, but are also regarded by many as gospel. This book is invaluable reading and has been since it was first published in 1958.

It is an in depth introduction to stocks and bonds. It explains the basics of of financial statement analysis, cash flow generation, stock price valuation, and more. Commonly misunderstood terms such as "capitalize", "equity," and "diluted earnings" are explained clearly. Stock valuation methods including price/earnings ratio, price/cash flow ratio, and Enterprise Value / EBITDA are covered. The book is about fundamentals; it is not an investment system or "how to make a million dollars in the market".

Buffettology: The Previously Unexplained Techniques That Have Made WarrenBuffett The World’s Most Famous Investor by Mary Buffett and David Clark

Absolutely the best book ever written on Warren Buffett's investment methods.

The Art of Short Selling by Kathryn Staley

"Kathryn Staley has done a masterful job explaining the highly specialized art of short selling. Her approach to telling the true stories of famous investment 'scams' will keep the reader spellbound, while teaching the investor many crucial lessons."--David W. Tice, Portfolio Manager, Prudent Bear Fund

The Rediscovered Benjamin Graham: Selected Writings of the Wall Street Legendby Janet Lowe

"The search for intelligent investing should begin with the remarkable Benjamin Graham's timeless teachings. Read Lowe's book and you'll learn to seek what the original master sought as she helps Graham reclaim his rightful place as the most important and extraordinary investment writer of any generation."-Kenneth Lee, author of Trouncing the Dow.

About his portrayal by Christian Bale in The Big Short

 
As for the movie, Michael Burry didn't want to say much before the release. Regarding Bale's characterization, Burry said he spent about 12 hours with the actor over the course of several phone calls and meetings, and he's pleased with the outcome.
"Christian is an incredibly professional actor," Burry said. "I certainly can't be unhappy with his portrayal or effort he put in."

Books featuring Michael Burry


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