Sunday, April 4, 2010

Michael Burry Asks How Greenspan and other Economists Could have Missed the BOat

I'll tell you how:
Greenspan and many economists didn't realize they were neck-deep in water.

Were Burry and the handful of non-mainstream economists and business gurus that called the crisis a bunch of "lucky coin flippers?" I don't think so.

What they were were realists - not held down by textbook models of overly-applied math and unrealistic theories of finance and money.

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