The second company for which Eisman was given sole responsibility was called Lomas Financial Corp. Lomas had just emerged from bankruptcy. “I put a sell rating on the thing because it was a piece of shit. I didn’t know that you weren’t supposed to put sell ratings on companies. I thought there were three boxes—buy, hold, sell—and you could pick the one you thought you should.” He was pressured to be a bit more upbeat, but upbeat did not come naturally to Steve Eisman. He could fake upbeat, and sometimes did, but he was happier not bothering. “I could hear him shouting into his phone...
every conceivable interest rate environment.’ I enjoyed writing that sentence more than any sentence I ever wrote.” A few months after he published that line, the Lomas Financial Corporation returned to bankruptcy.
Japanese businessman introductions. The interpreter conferred with the CEO. “In Japan it is not customary for management to own stock,” he said at length. Eisman noted that the guy’s financial statements didn’t actually disclose any of the really important details about the guy’s company; but, rather than simply say that, he lifted the statement in the air, as if disposing of a turd. “This…this is toilet paper,” he said. “Translate that.” “The Japanese guy takes off his glasses,” recalled a witness to the strange encounter. “His lips are quavering. World War Three is...
the question, Why isn’t someone smarter than us doing this?  
Note: The fundamental question when doing uncommon trades.