History of The Big Short (film) in Timeline

By Popular Timelines Editorial Team · Updated: April 16, 2025

The Big Short, based on Michael Lewis's book, dramatizes the lead-up to the 2008 financial crisis. A few astute investors – Michael Burry, Mark Baum, Jared Vennett, and Ben Rickert – independently discover the instability of the housing market, recognizing that mortgage-backed securities are built on subprime loans destined to fail. They decide to bet against the market by shorting these securities, facing skepticism and ridicule from the financial establishment. As the housing market crumbles, their predictions come true, exposing widespread fraud and irresponsibility within the banking system and ultimately leading to a global economic catastrophe. The film highlights the complex financial instruments and the individuals who profited from the crisis.

2005: Burry discovers housing market instability

In 2005, Michael Burry discovered that the United States housing market was unstable due to high-risk subprime loans.

2007: CDO prices rise despite loan defaults

In early 2007, as loans began to default, CDO prices rose. Baum's team learned the market for insuring mortgage bonds was significantly larger than the market for the loans, leading to the realization of a potential global economic collapse.

2007: Burry anticipates market collapse

In the second quarter of 2007, Michael Burry anticipated the United States housing market collapse as interest rates rose from adjustable-rate mortgages.

2008: 2008 financial crisis and Burry's fund success

As the 2008 financial crisis began, Michael Burry's fund increased in value by 489%, resulting in an overall profit of over $2.69 billion.

2008: 2008 Financial Crisis

The 2008 financial crisis, triggered by the United States housing bubble, is a central theme in The Big Short.

2008: 2008 financial crisis context in The Big Short

The Big Short film follows three separate but concurrent stories that are connected through their actions leading up to the 2008 financial crisis.

2010: Publication of The Big Short: Inside the Doomsday Machine

In 2010, Michael Lewis published "The Big Short: Inside the Doomsday Machine", the non-fiction book that would later inspire the film.

The Big Short: Inside the Doomsday Machine

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2010: Publication of The Big Short Book

In 2010, Michael Lewis published "The Big Short: Inside the Doomsday Machine", which later became the basis for the film.

The Big Short: Inside the Doomsday Machine

Check it on Amazon

2013: Paramount Acquires Rights to The Big Short Book

In 2013, Paramount acquired the rights to Michael Lewis's 2010 non-fiction book, "The Big Short: Inside the Doomsday Machine", to develop it into a film.

The Big Short: Inside the Doomsday Machine

Check it on Amazon

March 24, 2014: Adam McKay Hired to Write and Direct

On March 24, 2014, Adam McKay was hired to write and direct a film about the housing and economic bubble, which would become The Big Short.

January 13, 2015: Pitt, Bale, and Gosling Set to Star

On January 13, 2015, it was reported that Brad Pitt, Christian Bale, and Ryan Gosling were set to star in The Big Short, with Pitt also producing.

March 18, 2015: Principal photography begins in New Orleans

On March 18, 2015, principal photography for The Big Short began in New Orleans, Louisiana.

April 21, 2015: More Cast Revealed

On April 21, 2015, additional cast members were announced for The Big Short, including Melissa Leo, Marisa Tomei, Tracy Letts, Hamish Linklater, and others.

April 23, 2015: Max Greenfield joins the cast

On April 23, 2015, Max Greenfield joined the ensemble cast of the film The Big Short.

May 8, 2015: Karen Gillan confirms involvement in film

On May 8, 2015, Karen Gillan tweeted about her involvement in the film The Big Short.

May 20, 2015: Filming in Manhattan, New York City

On May 20, 2015, filming for The Big Short took place on Mercer Street in Manhattan, New York City.

September 22, 2015: Paramount sets release dates for The Big Short

On September 22, 2015, Paramount Pictures scheduled a limited release for The Big Short on December 11, 2015, and a wide release on December 23, 2015.

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December 11, 2015: Limited release of The Big Short in the United States

On December 11, 2015, The Big Short had a limited release in the United States via Paramount Pictures. The film achieved both critical and commercial success.

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December 23, 2015: Wide release of The Big Short

On December 23, 2015, The Big Short had its wide release after the limited release on December 11, 2015.

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2015: Banks Selling CDOs Under a New Label

As of 2015, the film notes that banks are once again selling CDOs, but under a new label called "Bespoke Tranche Opportunity".

2015: Awards for The Big Short in 2015

In 2015, The Big Short won the Critics' Choice Movie Award for Best Comedy and was named one of the Top 10 Films of the Year at the American Film Institute Awards. The producers also won the Producers Guild of America Award for Best Theatrical Motion Picture, and the cast won the National Board of Review Award for Best Ensemble.

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2015: Release of The Big Short film

In 2015, The Big Short, an American biographical comedy-drama film directed by Adam McKay, was released. The film depicts how the 2008 financial crisis was triggered by the United States housing bubble.

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March 15, 2016: DVD and Blu-ray release of The Big Short

On March 15, 2016, The Big Short was released on DVD and Blu-ray.

January 2021: Resurgence of The Big Short Amid GameStop Short Squeeze

In January 2021, The Big Short saw a resurgence in popularity due to the GameStop short squeeze, as the events depicted in the film provided reference points for understanding the stock market situation.