Capital Allocators – Inside the Institutional Investment Industry Greg Lippmann – The Big Short and Structured Credit at LibreMax (Capital Allocators, EP.270)
Sep 12, 2022
In this engaging conversation, Greg Lippmann, co-founder and Chief Investment Officer of LibreMax, shares his journey from the subprime mortgage crisis to building an $8 billion asset management firm. He discusses the intricacies of structured products and his unique investment strategy. Greg reflects on his Hollywood portrayal in 'The Big Short,' his challenges transitioning from banking to entrepreneurship, and the evolution of the financial landscape, all while navigating the complexities of risk and return in structured credit.
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Unexpected Career Path
- Greg Lippmann's interest in Wall Street was sparked by Michael Lewis's "Liar's Poker",
- despite initially aiming for real estate.
Early Success at Credit Suisse
- Lippmann got a middle-office job at Credit Suisse, where he excelled at modeling mortgage-backed securities.
- This early success confirmed his aptitude for structured finance.
Getting Noticed
- To get noticed, Lippmann sat at traders' desks when they were away, demonstrating initiative.
- This led to a promotion to the B-piece trading desk.
