Rereading The Big Short and waiting for the movie!

I'm a big fan of Michael Lewis and just reread his The Big Short, on a few people who saw the financial crisis coming and cashed in on it hugely.

I only started trading options in 2009, shortly before this book came out. So I was able to read it this time with fresh eyes, seeing details that I missed the first time.

Bear Stearns deserved to die: they sold a bunch of 8-year puts to the protagonists on credit default swaps, which were tied to the subprime mortgage financial engines of the day. This gave the holders of these puts the right to sell at whatever price was specified at the time of that sale ... before the prices of all this stuff collapsed to very near zero.

The movie comes out this Friday the 11th "at select theaters" (not anywhere near me as far as I can tell) but opens just before Christmas everywhere. I can't wait!