If you’re a fan of the 2015 film The Big Short, you might recognize the name Jared Vennett. But who is he really? Is his character based on a real person, and what is the real story behind him? The Big Short, directed by Adam McKay, boasts an impressive cast, including Christian Bale, Steve Carell, Ryan Gosling, and Brad Pitt. The movie is an adaptation of Michael Lewis’s 2010 non-fiction book, which dives deep into the real estate market of the 2000s and the financial meltdown of 2007-2008. Released in December 2015 by Paramount Pictures, the film was a critical and commercial success, grossing $133 million and winning the Academy Award for Best Adapted Screenplay.
Who is Jared Vennett?
Jared Vennett, portrayed by Ryan Gosling, is a trader at Deutsche Bank who profits by selling credit default swaps. His character is both charismatic and ruthless, navigating the chaos of the financial crisis with a sharp eye for opportunity.
The Real Person Behind Jared Vennett: Greg Lippmann
Jared Vennett is not just a fictional character; he’s based on a real person named Greg Lippmann. During the onset of the financial crisis, Lippmann was the global head of asset-backed securities (ABS) and collateralized debt obligation (CDO) trading at Deutsche Bank. According to Bloomberg, Lippmann made an astonishing $1.5 billion by offsetting losses on mortgage investments through bets against subprime debts.
Greg Lippmann’s Early Life and Career
Lippmann’s journey began in New York City, where he was born and raised. He later attended the University of Pennsylvania, studying economics and English. His career in finance took off in 1991 when he joined Credit Suisse. There, he rose to become a director and head of ABS and CDO trading. Later, he moved to Deutsche Bank, where he played a significant role as a trader of non-investment grade ABS and RMBS (residential mortgage-backed securities). By 2003, he had become the global head of ABS and CDO trading.
Life After The Big Short
In April 2010, Greg Lippmann left Deutsche Bank to co-found a hedge fund with Fred Brettschneider, who was previously the head of global markets at Deutsche Bank. Together, they established LibreMax Partners, a hedge fund that began with $900 million under management and has since grown to manage $8.6 billion (as of 2022). Lippmann currently serves as the portfolio manager and chief investment officer at LibreMax.
Beyond his professional achievements, Lippmann is also involved in philanthropy. He serves on the board of the South Fork Natural History Museum and is a member of the advisory council at the American Museum of Natural History.
How Did Greg Lippmann React to Being Portrayed by Ryan Gosling?
Lippmann reacted positively to Ryan Gosling’s portrayal of him in The Big Short. He humorously remarked, “There are a lot less appealing people to play you in a movie than Ryan Gosling. If one of the sexiest men alive plays you in a movie, it’s hard to complain about that.” This response shows Lippmann’s light-hearted attitude toward his Hollywood depiction. He recognizes the perks of being represented by a movie star on the big screen.
Conclusion
Greg Lippmann is the real-life inspiration behind Jared Vennett in The Big Short. He played a pivotal role in one of the most significant financial events of our time. From his early days in New York City, he rose to an influential position at Deutsche Bank. Lippmann’s actions during the 2007-2008 financial crisis left a lasting mark on the world of finance. His portrayal of Ryan Gosling in the film highlights the complexities of the crisis. It also showcases the personalities that shaped it.
Today, Lippmann continues to influence the financial world through his hedge fund, LibreMax Partners, while also contributing to philanthropic efforts. His story serves as a fascinating glimpse into the real people behind the financial turmoil, reminding us that behind every major event, there are individuals making critical decisions that can shape history.
For more info visit Word Business