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“Big Short” Investor Michael Burry Explains How Index Funds Will Trigger The Next Crash
“Big Short” Investor Michael Burry Explains How Index Funds Will Trigger The Next Crash After years of radio silence, Dr. Michael Burry – the small-time stockpicker who rose to fame for his bets against subprime mortgage bonds featured in the book (and later film) “the Big Short” – is once again doing the media rounds, […]
Subprime 2.0: Mortgages Now Available For Borrowers Without Credit Scores
Subprime 2.0: Mortgages Now Available For Borrowers Without Credit Scores Waterstone Mortgage Corporation, a national lender, based in Wisconsin with licenses in 48 states, announced Tuesday that it’s now lending to people with aboustely no credit history, reported HousingWire. Waterstone calls it the “Non-Traditional Credit Program” will use other forms of financial history, such as cell […]
Zero-Down Subprime Mortgages Are Back, What Could Possibly Go Wrong?
Zero-Down Subprime Mortgages Are Back, What Could Possibly Go Wrong? Ten years after the collapse of Lehman Brothers, banks are once again taking bets on the same type of loans that nearly collapsed the economy amid a flurry of emergency bailouts and unprecedented consolidations. Bank of America has backed a $10 billion program from Boston-based brokerage […]
Canada Has A Subprime Real Estate Problem, You Just Don’t Know It
Canada Has A Subprime Real Estate Problem, You Just Don’t Know It A few weeks ago, a real estate agent told me about his client. Relatively wealthy older dude, closed on not one but two townhouses he plans on flipping. After some questions regarding who financed such a deal, he explains it was a private […]
Wave of Corporate Bankruptcies Coming: GE Warns About its Subprime Mortgage Unit
Wave of Corporate Bankruptcies Coming: GE Warns About its Subprime Mortgage Unit Earlier today I commented to a friend about corporate bankruptcies. A few hours later, another friend Emailed about GE. Earlier today a friend pinged me with this story: U.S.Personal Spending Outpaces Income Growth For 26th Straight Month. He commented: “Hey, a lot of […]
NY Fed Warns about Booming Subprime Mortgages, now Insured by the Government
NY Fed Warns about Booming Subprime Mortgages, now Insured by the Government “Astronomical” default rates and losses. The New York Fed just warned about the ticking mortgage subprime time bombs once again being amassed, and what happens to them when home prices decline. But unlike during the last housing bust, a large portion of these time […]
The Subprime Auto Loan Meltdown Is Here
The Subprime Auto Loan Meltdown Is Here Uh oh – here we go again. Do you remember the subprime mortgage meltdown during the last financial crisis? Well, now a similar thing is happening with auto loans. The auto industry has been doing better than many other areas of the economy in recent years, but this […]
The Oil Crash Of 2016 Has The Big Banks Running Scared
The Oil Crash Of 2016 Has The Big Banks Running Scared Last time around it was subprime mortgages, but this time it is oil that is playing a starring role in a global financial crisis. Since the start of 2015, 42 North American oil companies have filed for bankruptcy, 130,000 good paying energy jobs have been lost in the […]
The Big Short
The Big Short QUESTION: Marty; I am curious what you thought of the Big Short especially since you are the one who got the timing right to the day. In markets, I do not have to tell you that being too early is more dangerous than being too late. Since that fateful day on the floor […]
The Big Short is a Great Movie, But…
The Big Short is a Great Movie, But… Paris — Michael Lewis is the chronicler of Wall Street. He takes the complexity behind which the inhabitants of the financial world hide and weaves a tale that is both understandable and compelling. Starting with the classic “Liars Poker” (1989), Lewis has produced a number of books about […]
Seek and Ye Shall Find
Seek and Ye Shall Find A man who wants to lead the orchestra must turn his back on the crowd.” – Max Lucado. So. Farewell then Jim Slater, who died earlier this month. We met Mr. Slater only once, at an investment conference at the height of the financial crisis in 2008. Just before going on […]
The Most Devious Liars in the Room
The Most Devious Liars in the Room There were a few different stories coming out over the last few days that reveal the true nature of government and the apparatchiks who use disinformation, devious machinations, fraudulent accounting, and taxpayer money to cover up their criminality, lies, and the true state of the American economy. The […]
Largest “Alternative” Mortgage Lender in Canada Plunges, Denies “Systemic Problem” in Housing Market
Largest “Alternative” Mortgage Lender in Canada Plunges, Denies “Systemic Problem” in Housing Market Home Capital Group, Canada’s largest non-bank mortgage lender, focuses on “alternative” mortgages, as they’re called euphemistically, that is high-profit mortgages to risky borrowers with dented credit or unreliable incomes, such as self-employed folks or new immigrants, who don’t qualify for mortgage insurance […]
