Brew Markets Michael Lewis: Revisiting Insights from “The Big Short”
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Jan 2, 2026 
Bestselling author Michael Lewis, known for his explorations of finance and crisis, revisits insights from his iconic work on the 2008 financial disaster. He discusses how today’s social media could have impacted the crisis and compares current market dynamics to the internet bubble. Lewis highlights the faith many have in Bitcoin, likening it to a religious conviction. He shares his investment philosophy, a cautionary tale for young investors, and reflects on the economic and societal repercussions of AI.
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Opacity And Incentives Fueled 2008
- The 2008 crisis stemmed from opaque complexity, misaligned incentives, and toxic mortgage-linked instruments.
- Those factors created distrust that froze credit markets and required government rescues.
Michael Burry's Lone Research Journey
- Michael Burry started as a doctor who obsessively analyzed mortgage bonds and posted his research online.
- He correctly predicted the subprime collapse and profited massively but later refused outside money.
Meme Stocks Are Social, Not Valuation-Driven
- Meme-stock moves are a social herd phenomenon divorced from valuation and driven by momentum.
- That contrasts with Burry-style value research, which focuses on underlying numbers.
