Run don't walk to read this. It's gripping. About Steve Eisman, who started shorting every subprime play in sight back in 2005, while simultaneously proclaiming market insanity to anyone who would listen--in decidedly not-fit-to-print language.
It's long, but you won't be able to put it down.
The most amazing new insight I got from the piece: even the people who were shorting the insanity were feeding the insanity.
‘By shorting this market we’re creating the liquidity to keep the market going.’
“It was like feeding the monster,” Eisman says of the market for subprime bonds. “We fed the monster until it blew up.”