This book provides an insider's view of the events leading up to the collapse of Lehman Brothers in 2008. Written by Lawrence G. McDonald, a former Vice President at the firm, and Patrick Robinson, the book offers a candid and detailed look at the internal dynamics, decision-making processes, and cultural factors that contributed to the bank's downfall. It is a critical examination of the failures in leadership, risk management, and regulatory oversight that had far-reaching consequences for the global financial system.
Danny Moses interviews Larry McDonald, a former distressed credit trader at Lehman Brothers during the Global Financial Crisis (GFC) and author of 'A Colossal Failure of Common Sense' and 'How to Listen When Markets Speak.' Larry discusses his career, which includes transitioning from retail to institutional finance and experiencing firsthand the collapse of Lehman Brothers.
The conversation covers several key topics, including the risks posed by government debt and high yields, the implications of expensive tech stocks fueled by passive flows, and the growth and potential risks of private credit. Larry also identifies investment opportunities in energy, commodities, and hard assets. He emphasizes the importance of focusing on sectors poised to benefit from a multipolar, inflationary world, like nuclear energy, natural gas, and metals such as copper and platinum. The episode concludes with insights into the potential impacts of government policies and the need for careful market analysis.
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ABOUT THE SHOW
For decades, Danny has seen it all on Wall Street and has built his reputation on integrity, curiosity and skepticism that he will bring with him each week. Having traded through the Great Financial Crisis and being featured in "The Big Short" is only part of the experiences Danny wants to share with the listener. This weekly podcast cuts through market noise, offering entertaining and informative discussions with expert guests giving their views of the financial world and the human side of it. Whether you're a seasoned investor or just getting started, On The Tape provides something for all listeners.
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The financial opinions expressed are for information purposes only. The opinions expressed by the hosts and participants are not an attempt to influence specific trading behavior, investments, or strategies. Past performance does not necessarily predict future outcomes. No specific results or profits are assured when relying on this content.
Before making any investment or trade, evaluate its suitability for your circumstances and consider consulting your own financial or investment advisor. The financial products discussed in 'On The Tape' carry a high level of risk and may not be appropriate for many investors. If you have uncertainties, it's advisable to seek professional advice. Remember that trading involves a risk to your capital, so only invest money that you can afford to lose.
Derivatives are not suitable for all investors and involve the risk of losing more than the amount originally deposited and any profit you might have made. This communication is not a recommendation or offer to buy, sell or retain any specific investment or service.
On The Tape with Danny Moses 
