Jared Vennett Net Worth (2024)

FAQs

How much money did Jared Vennett make? ›

Mark Baum, based on Steve Eisman, earned $1 billion from the market crash depicted in the film. Jared Vennett, based on Greg Lippmann, made $47 million from swap sales as shown in the movie.

While this is an impressive sum, and Burry is widely credited with being the first to predict the collapse of the red-hot housing market, Steve Eisman, upon which the Big Short character Mark Baum (played by Steve Carell) was based, made a staggering $1 billion shorting collateralized debt obligations (CDOs), a type of ...

Ryan Gosling as Jared Vennett: a salesman from Deutsche Bank who decides to sell Burry's credit default swaps for his own profit.

Played by the ever-charismatic Ryan Gosling, Vennett was a pivotal figure in the events that led to the 2008 financial crisis. But what you may not know is that Vennett is based on a real-life person — the equally fascinating Greg Lippmann.

Key Takeaways. Michael Burry is an investor who profited from the subprime mortgage crisis by shorting the 2007 mortgage bond market, making $100 million for himself and $700 million for his investors.

Factual errors. Mark Baum (in real life, Steve Eisman) never lost a brother. It was the death of his infant son that so changed him. This detail was intentionally altered by the filmmakers at Eisman's request.

Subprime mortgage crisis

Sometimes referred to as the greatest trade in history, Paulson's firm made a fortune and he earned over $4 billion personally on this trade alone. Paulson worked with Goldman Sachs to provide liquidity for low-performing home loans in Arizona, California, Florida and Nevada.

Eventually, Burry's analysis proved correct: He made a personal profit of $100 million and a profit for his remaining investors of more than $700 million. Scion Capital ultimately recorded returns of 489.34% (net of fees and expenses) between its November 1, 2000, inception and June 2008.

In Baum's eyes, if he sold his position, then he would be no better than those other people, whom he considered “crooks.” Baum was one of the main characters who was aware of what was going to happen and who would profit massively from the crash, so it initially seems confusing that he refused to sell.

FrontPoint Partners

In the movie adaptation of Lewis' book, The Big Short, Eisman's name was changed to Mark Baum, and was portrayed by actor Steve Carell. He left FrontPoint Partners in 2011 amid investor withdrawals following an investigation of illegal insider trading by portfolio manager Chip Skowron.

How accurate was The Big Short? ›

Summary. The Big Short contains inaccuracies due to creative liberties taken by writers and directors for entertainment value. Main characters' names were changed in the film, but their likenesses, personalities, and stories remained relatively true.

No, Ben Rickert (played by Brad Pitt) did not make any money from the Brownfield investment. He was a consultant to the other investors and did not invest himself. How come Brownfield Capital only netted $80m in "The Big Short"?

Lippmann worked for Deutsche Bank, as global head of asset-backed securities trading, until he left in April 2010, and was succeeded by Pius Sprenger. In February 2010, Lippmann announced that he would be joining a hedge fund started by Fred Brettschneider, who was formerly Deutsche Bank's head of global markets.

Michael Burry's moves tend to make headlines. The hedge fund manager famously bet against the U.S. housing market in 2008 and won big — a move that was depicted in the hit movie “The Big Short.” Since then his investments have been closely watched.

Ben Hockett is a former trader at Deutsche Bank who works closely with Charlie Ledley and Jamie Mai (of Cornwall Capital) to navigate the financial world from an outsider's perspective and short the subprime mortgage market.

How come Brownfield Capital only netted $80m in "The Big Short"?

The Ben Rickert character played by Brad Pitt was actually an investor named Ben Hockett. Hockett's work with Cornwall Capital made him $80m by shorting the housing market.

According to the book “The Big Short”, Jamie Mai and Charlie Ledley used options to turn $110,000 to $12mil.

Eventually, Burry's analysis proved correct: He made a personal profit of $100 million and a profit for his remaining investors of more than $700 million. Scion Capital ultimately recorded returns of 489.34% (net of fees and expenses) between its November 1, 2000, inception and June 2008.