The Big Short Gives You the Wrong Impression

During the o eight, o nine, fina a crisis, we saw very few people beforehand making warnings about housing. A pair of academics, reinhart and rogof very famously put out a paper in january o eighth, widely ignored afterwards. I can't tell you how many people have claimed to have seen it coming. Never in print, there's no recorded history. But they all knew this was going to go south. Pure hindside. This is really hindsid bias. And it's actually very pernicious, because it gives you the wrong impression.