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Investors were blind to the impending collapse from "summary" of The Big Short by Michael Lewis

The investors, with their billions of dollars at stake, were supposed to know what they were doing. They were supposed to be the smartest guys in the room, always one step ahead of the game. But as it turned out, they were blind. Blind to the warning signs that were flashing right in front of their eyes. Blind to the impending collapse that was about to shake the very foundations of the financial world. They were blinded by their own arrogance, their belief that they were invincible, that they could never fail. They were blinded by the herd mentality that swept through Wall Street like a plague, causing them to follow each other off the cliff like lemmings. They were blinded by the complex financial instruments that they themselves had created, instruments so convoluted and opaque that even they didn't fully understand how they worked. But most of all, they were blinded by their own greed. Greed that clouded their judgment, that made them ignore the warning signs and plow ahead regardless. Greed that made them turn a blind eye to the risks that were mounting all around them, risks that would eventually come back to haunt them in the most spectacular fashion. And so they marched blindly towards the edge of the cliff, unaware of the abyss that lay just beyond. They were like sleepwalkers, stumbling through the dark, oblivious to the danger that lurked just around the corner. And when the collapse finally came, when the house of cards that they had built came crashing down around them, they were left stunned and bewildered, wondering how it had all gone so wrong. But the signs had been there all along, for those with the eyes to see. The warning bells had been ringing, loud and clear, for those willing to listen. The collapse was not some unforeseeable catastrophe, some random act of God. It was the inevitable consequence of a system that had become bloated and corrupt, a system that had lost touch with reality and was careening towards disaster. And as the dust settled and the smoke cleared, those who had seen it coming stood amidst the wreckage, shaken but not surprised. They had been the ones who had dared to look, who had refused to be blinded by the illusions of Wall Street. They had been the ones who had bet against the house, who had seen through the lies and the deceit. They were the ones who had seen the collapse coming, while the rest of the world had been blind. And as they surveyed the ruins
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    The Big Short

    Michael Lewis

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