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An Investing Opportunity of a Life Time Is Staring At You
Recessions are golden opportunities for long-term investors
My favorite scene of The Big Short lasts for about nine seconds. Michael Burry, who’s one of the main characters of the movie, sits on top of his desk while he listens to 15 voice messages he received earlier.
This was during the 2008 crash. He’d just made over $100 million in personal gains and another 725 for his investors, not too shabby especially since almost everyone else lost money during that period.
In hindsight, people see Michael as a genius, but in 2006 when he first made his prediction, no one believed him. Bankers laughed at him and partners ditched him. Even the investors who deliberately put their money into his fund ended up insulting him — some went as far as threatening to sue.
But in the end, Burry was right — and the voicemail scene happens a few days after Michael's prediction came true.
We don’t hear much of the first two messages because Michael skips them as soon as they start playing. But the third one comes across loud and clear. “You’re buying stocks???” the caller says. “The market is at an all-time low!!! This is CRAZY!!!”
Except it’s not.
