Fans of the 2015 film The Big Short will recognize the character of Jared Vennett. But is he based on an actual person? Who is it? And what is he doing now?
Adam McKay directs The Big Short, which stars Christian Bale, Steve Carrell, Ryan Gosling, and Brad Pitt. It is based on Michael Lewis’ nonfiction book, written in 2010, that describes the 2000s real estate market, namely the 2007-2008 financial crisis.
Paramount Pictures released the picture in December 2015 to critical acclaim, grossing $133 million and earning the Academy Award for Best Adapted Screenplay.
The Big Short ©Disneyplus
Ryan Gosling plays Jared Vennett, a trader at Deutsche Bank who makes money by selling credit default swaps.
Is Jared Vennett based on an actual person?
Greg Lippmann, the character Jared Vennett is based on, is a real person. Lippmann was Deutsch Bank’s worldwide head of asset-backed securities (ABS) and collateralized debt obligation (CDO) trading when the financial crisis began. Bloomberg stated that he won $1.5 billion by betting against subprime defaults to offset losses on mortgage assets.
What’s Greg Lippmann’s background?
Lippmann grew up in New York City and attended the University of Pennsylvania, where he studied economics and English.
He began his career with Credit Suisse in 1991, rising to the position of director and head of ABS and CDO trading before joining Deutsche Bank. He worked there as a trader of non-investment grade asset-backed securities (ABS) and residential mortgage-backed securities (RMBS). In 2003, he became the worldwide head of ABS and CDO trading.
What has Greg Lippmann done since “The Big Short”?
Lippmann left Deutsch Bank in April 2010, joining Fred Brettschneider to launch a hedge fund. Brettschneider was previously the president of global markets at Deutsche Bank, and they co-founded LibreMax Partners, which began with $900 million and today oversees $8.6 billion (as of writing in 2022). Greg Lippmann is a portfolio manager and chief investment officer.
He is a member of the South Fork Natural History Museum board of directors and the American Museum of Natural History advisory council.
How did Greg Lippmann feel about being portrayed by Ryan Gosling in The Big Short?
He was actually rather pleased with it. As he explains:
“There are far fewer intriguing actors to play you in a movie than Ryan Gosling. It’s difficult to complain when one of the sexiest men alive plays you in a movie.