If you’re a movie buff like me, chances are you were drawn into the whirlwind world of “The Big Short” back in 2015. And let’s be honest, who could forget Jared Vennett, right? But here’s the real head-scratcher: Is this slick character actually based on someone real? And if so, what’s their deal these days?
Picture this: Adam McKay’s directorial genius brings together a powerhouse cast – Christian Bale, Steve Carrell, Ryan Gosling, and Brad Pitt – to tell the tale straight from Michael Lewis’s gripping book. Published in 2010, Lewis’s book dives deep into the chaotic real estate scene of the 2000s, shining a light on the infamous financial meltdown of ’07-’08.
In December of 2015, “The Big Short” premieres on large screens, thrilling both reviewers and viewers. Not surprisingly, it generated a cool $133 million at the box office and won the Academy Award for Best Adapted Screenplay.
Let’s now focus on the ever-entertaining Ryan Gosling as Jared Vennett, the astute Handelsman at Deutsche Bank. This is where the fascinating part begins: Is Jared not who he seems to be? Now let’s investigate.
What is The Big Short?
“The Big Short,” a compelling biographical comedy-drama helmed by Adam McKay, was a hit film back in 2015.
The film explores the turmoil of the 2008 financial crisis and was inspired by Michael Lewis’s compelling book “The Big Short: Inside the Doomsday Machine,” published in 2010.
The film presents a vivid image of one of the biggest economic revolutions in recent memory, and stars Christian Bale, Steve Carell, Ryan Gosling, Brad Pitt, Melissa Leo, Hamish Linklater, John Magaro, Rafe Spall, Jeremy Strong, Finn Wittrock, and Marisa Tomei.
Could Jared Vennett be inspired by a living, breathing individual?
Indeed, Jared Vennett draws inspiration from a living individual, Greg Lippmann. Back when the financial storm brewed, Lippmann held the esteemed position of global head of asset-backed securities (ABS) and collateralized debt obligation (CDO) trading at Deutsch Bank. According to reports from Bloomberg, he masterminded a staggering $1.5 billion gain by hedging losses on mortgage investments through strategic bets against subprime debts.
Could you provide some background information on Greg Lippmann?
Before starting his studies at the University of Pennsylvania, Lippmann spent his formative years on the bustling streets of New York City, where his story begins. He prepared for his future endeavours by pursuing a double major in economics and English there.
When Lippmann started working at Credit Suisse in 1991, it was his first job. He ascended the corporate ladder over time, becoming head of ABS and CDO trading and a director in the end. He thereafter made the wise decision to join Deutsche Bank, where he became an expert in trading ABS and RMBS instruments that weren’t investment grade. His ascension to the prestigious post of worldwide head of ABS and CDO trading by 2003 solidified his standing as a powerful figure in the financial industry.
What has Greg Lippmann been up to since his involvement with “The Big Short”?
After bidding farewell to Deutsche Bank in April 2010, Lippmann teamed up with Fred Brettschneider to dive into the hedge fund world. Together, they launched LibreMax Partners, a venture that initially handled $900 million but has since grown impressively to oversee assets totaling $8.6 billion by 2022.
At LibreMax Partners, Lippmann wears multiple hats as both portfolio manager and chief investment officer, steering the fund with his seasoned expertise.
Lippmann’s passion is philanthropy, which is outside the financial realm. He is actively involved in community projects; he is on the advisory council of the American Museum of Natural History and serves on the board of the South Fork Natural History Museum.
What were Greg Lippmann’s thoughts on being portrayed by Ryan Gosling in The Big Short?
Interestingly, Lippmann expressed contentment with the portrayal. He remarked, “Having Ryan Gosling play you in a movie is certainly flattering. There are definitely worse options out there!”
Final Words
The Big Short” really grabbed people’s attention with its intense portrayal of the 2008 financial crisis. Ryan Gosling’s character, Jared Vennett, was actually inspired by a real guy named Greg Lippmann. Lippmann used to work at Deutsche Bank and made some serious money by predicting the subprime mortgage mess. After that, he got into hedge funds, starting LibreMax Partners, which now handles billions of dollars in assets. Besides all that finance stuff, Lippmann is also big on giving back through charity work. And even though the financial world can be pretty complicated, Lippmann thought it was pretty cool that Gosling played him in the movie. “The Big Short” still hits home with a lot of people because it reminds us of the huge impact the crisis had and the folks who navigated through it.
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