I have seen several documentaries and web videos about the recent collapse of the American housing market, but the actual details about what happened still seemed a bit fuzzy. I don’t think I’m alone in this, especially since Wall Street economists tend to pepper their explanations with obtuse acronyms and industry-speak rhetoric.

The new movie, “The Big Short” seeks to give average, everyday audiences a look behind Wall Street’s curtain and explain why the housing market failed. That sounds like the basis for a boring documentary, but it turns out to be a very entertaining docudrama that’s filled with humor and, dare I say it, a genuine education about how Wall Street works.

The film focuses on three groups of traders who recognized that our housing market was built on deceptive numbers and was about to collapse—an inconceivable concept just 10 years ago. Smug bankers laughed at them when they began to short housing stocks. Of course they all stopped laughing when the market failed and these men made billions.

It’s no small trick to make heroes out of men who are betting against America, and “The Big Short” masterfully paints these men as dogged outsiders who are going up against the big banks. We tend to cheer on the underdogs, but if that’s not enough to cement our loyalty, the film also hammers home the point that while these men have reason to celebrate, their success nevertheless means that thousands of Americans will lose their jobs and their homes. It proves to be a sobering thought that keeps this comedy grounded in painful reality.

“The Big Short” also takes several moments to pull away from the action and explain the complex mechanics behind what’s happening. At one point the filmmakers even admit that some of it is so complex and boring that, just to keep the audience interested in the explanation, they have it explained by actress Margot Robbie while sipping champagne in a bubble bath. Anthony Bourdain and Selena Gomez also pop up for some of these standalone moments before the film gets back to the main story.

That main story is very well done, with an all-star cast that is uniformly superb. That acting is combined with one of the best screenplays of the year (also written by director Adam McKay, based on Michael Lewis’ book.) and some very tight editing that keeps the story momentum going despite its subject matter.

The end result is a film that is a master class in filmmaking. I am very impressed with McKay’s storytelling abilities, and while “The Big Short” may not feature the flashiest acting or cinematography, at its core this is superb cinematic craftsmanship.

For my money, “The Big Short” is the best film I’ve seen all year.

Movie reviews by Sean, “The Movie Guy,” are published bi-weekly in “The Port Arthur News” and seen weekly on KFDM and KBTV. Sean welcomes your comments via email atsmcbride@sbgtv.com.com.