'Big Short' investor Michael Burry broke down his iconic bet against the US housing bubble during a 2008 meeting with a Warren Buffett acolyte - but his warning and advice were ignored.
from the collapse of the US housing market in 2008. The investor of"The Big Short" fame told a Warren Buffett acolyte that year exactly how to capitalize on the impending crash, but his warning and advice fell on deaf ears.
The Scion chief laid out why MBS were far riskier than they appeared, and spoke about"how real estate's going to blow up and everything is going to blow up, the whole Western world is going to blow up," Pabrai said. "Now all God could do is he could take the horse to the water," Pabrai said."He took the horse to the epicenter of the best lake. The horse was too dumb to drink."."And he tried hard to educate me. I was too dumb to absorb his sage advice!"to win Buffett's charity-lunch auction in 2008 and pepper the billionaire with questions over a meal. He could have saved a lot more money than that, and pocketed a fortune, by following Burry's free advice.
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