Michael Lewis: Lot and Burt

michael lewis: Burt makes a climate change and subprime lending connection in a recent interview with Vice There's a lot of parallels, it's a big real estate mispricing issue, according to Market Watch. At its core that presents a lot of the same risks. That's the view of David Burt, whose old firm and its timely escape from the financial crisis just over a decade ago featured in Michael Lewis's book The Big Short. A lot of real estate is massively overpriced and there's a lot of risk associated with that and the big risk is another foreclosure crisis. Burt was a consultant at Cornwall Capital, the firm that made about 80 million when it shorted the subprime mortgage market whose eventual implosion left the housing market in a shambles and lured well-positioned investors to pick through the bones. Now, it's a very different dynamic that's creating the mispricing, but actually magnitude-wise it looks pretty similar, maybe even bigger.' David Burt The first serious market ripples from industry nonchalance, Burt says, could materialize as early as next year. (news.financializer.com). As reported in the news.