The Big Short evaluation action
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Gracie 2022-03-21 09:01:12
Unexpectedly, it is quite hard core. It is understandable to say that it is pretending to be compelling, and it is definitely because it is not understood that it is empty. Commander High is so cute~ But the short sellers are all good guys. What the hell is this setting? Hedge funds are all cynical veterans? Tease me?
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Monica 2022-03-19 09:01:02
Big short head means that the brain is empty and the head is too big to see
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JP Morgan Employee: Ted had asked me to do some meeting prep but I couldn't find any marketing material on you guys.
Charlie Geller: Oh, we just moved here from Boulder.
JP Morgan Employee: Yeah. Well, can we see your offering documents
Charlie Geller: Well, Brownfield is its own money.
Jamie Shipley: It's our money.
JP Morgan Employee: Well, can you tell us how much you manage?
Charlie Geller: Of course. We're doing 30 million right now, uh, but we started four years ago with 110 thousand. So, as you can see, that's pretty phenomenal returns.
Jamie Shipley: We want to get an ISDA agreement so we can deal in long-term options.
[subtitled: ISDA Agreement: An agreement that lets an investor sit at the 'big boy table' and make high level trades not available to stupid amateurs.Trying to be a high stakes trader without an ISDA is like trying to win the Indy 500 riding a llama]
JP Morgan Employee: [in a slightly condescending tone] That's really cool. That is SO cool.
Charlie Geller: Thank you.
JP Morgan Employee: But, uh... you guys are under the capital requirements for an ISDA.
JP Morgan Employee: By how much?
JP Morgan Employee: [thinking] Uh... how much? One billion, four hundred seventy million. So... a lot.
Charlie Geller: This makes us look bad, doesn't it? That we didn't know what the capital requirements were?
JP Morgan Employee: Uh... it's not great. But keep up those returns and give us a call way down the line, you know. Okay?
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Mortgage Broker: So, is Morgan Stanley recruiting us? Is that...
Porter Collins: Oh, no. No. The bank owns our hedge fund but we're not really a part of it. We invest in financial service companies and we're trying to understand the residential mortgage business.
Mark Baum: How many loans do you write each month?
Mortgage Broker: Pffft! About sixty.
Mark Baum: What was it four years ago?
Mortgage Broker: Ten... maybe fifteen.
Mortgage Broker: Yeah, I was a bartender. Now I own a boat.
Danny Moses: You own a boat? So how many of these are, uh, adjustable rate mortgages?
Mortgage Broker: Well, most. Yeah, I'd say about ninety percent. The bonuses on those skyrocketed a few years ago. Adjustables are our bread and honey.
Danny Moses: So do applicants ever get rejected?
Mortgage Broker: [laughs] Seriously? Look, if they get rejected, I suck at my job.
Danny Moses: Even if they have no money?
Mortgage Broker: Well, my firm offers NINJA loans - no income, no job. I just leave the income section blank if I want. Corporate doesn't care. These people just want homes, you know, and they just go with the flow.
Danny Moses: Good for you.
Mark Baum: Your companies don't verify?
Mortgage Broker: If I write a loan on Friday afternoon, big bank will buy it by Monday lunch.