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24 November 2023 Economics & Growth | US

Ep. 191: Greg Lippmann on The Big Short, Latest US Housing View, and Finding Alpha in Structured Products

Bilal Hafeez

Greg Lippmann is the Managing Founding Partner and the Chief Investment Officer of the $9.8bn asset management firm, LibreMax. Prior to founding LibreMax, Greg was head of all non-agency RMBS, ABS, and CDO trading globally at Deutsche Bank. His prescient call on the subprime crisis was immortalized in the book and film The Big Short. In the film, Greg is played by Ryan Gosling. In this podcast we discuss:

What led Greg to believe there would be a subprime crisis

Thinking about convex trades

Launching LibreMax

What makes structured products attractive

Framework for risk management

Dealing with liquidity risk

How regulation and low rates impacted markets

How strategy will perform with higher rates

Current thoughts on US housing

What people are missing about US developers

Thoughts on the macro outlook

Books mentioned: Reminiscences of a Stock Operator (Lefevre), Thinking in Bets (Duke), and Market Wizards (Schwager)

You can learn more about LibreMax here and contact them here.

Make sure to subscribe to the show on Apple, Spotify, YouTube, or wherever you go for your podcasts. You can follow us on Twitter and LinkedIn.

(The commentary contained in the above article does not constitute an offer or a solicitation, or a recommendation to implement or liquidate an investment or to carry out any other transaction. It should not be used as a basis for any investment decision or other decision. Any investment decision should be based on appropriate professional advice specific to your needs.)

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