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Maps in the collection address a wide range of messages: religious, political, military, commercial, moral and social.

Wall Street's bond traders will suffer further fee falls before the end of September, continuing a tough period for investment banks' chief revenue drivers, according to analysts at Fitch Ratings.

He didn’t talk to anyone about what became his new obsession; he just sat alone in his office, in San Jose, California, and read books and articles and financial filings.

He wanted to know, especially, how subprime-mortgage bonds worked.

The collection reflects a variety of persuasive tools: allegorical, satirical and pictorial mapping; selective inclusion or exclusion; unusual projections, graphics and text; and intentional deception.

Investors who bought mortgage bonds had to decide in which floor of the tower they wanted to invest, but Michael Burry wasn’t thinking about buying mortgage bonds.

He was wondering how he might short, or bet against, subprime-mortgage bonds. stood for “residential-mortgage-backed security.” hel stood for “home-equity loan.” heloc stood for “home-equity line of credit.” Alt-A was just what they called crappy subprime-mortgage loans for which they hadn’t even bothered to acquire the proper documents—to, say, verify the borrower’s income.

Michael Burry always saw the world differently—due, he believed, to the childhood loss of one eye.

So when the 32-year-old investor spotted the huge bubble in the subprime-mortgage bond market, in 2004, then created a way to bet against it, he wasn’t surprised that no one understood what he was doing.

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