In 2005, Michael Burry, a financial analyst social, and lover of metal music, discovers that the subprime loans used in real estate, are in fact products designed to implode. Against the advice of his superiors, he then decides to bet against, because he is convinced that the market will collapse. For his part, Jared Vennett also smells the wind to turn and talk to Mark Baum, a financial idealist whose brother committed suicide because of market losses, and his team. After extensive research, they discover that his fears are well founded and also decide to bet against the subprime. Jamie Shipley and Charlie Geller, head of an investment fund, also want their share of the cake.