The re-emergence of Michael Burry reminds of me of some advice I give young analysts. The Big Short is a great book/movie. Absolutely read it. However:

1) It isn& #39;t a very good explanation for why the crisis happened
2) It offers terrible lessons on being a pro investor

On #1, it is just too narrow. For you to really understand the crisis (and how it might matter to future events including COVID) you have to understand the interconnectedness of banks.

@benbernanke memoir is much better for a fullsome view of what happened.

On #2, it glorifies hero trades. It implies you can dig through a prospectus and find that one tidbit that everyone else missed and make a fortune. It implies you should bet everything on one big idea. These just aren& #39;t good ways to make money consistently.

Most of the time if you think you know something that everyone else doesn& #39;t, you are wrong. If you bet everything on your genius idea, you will lose. They won& #39;t write a book about you. You& #39;ll be looking for another career.