{"id":19017,"date":"2024-02-05T15:57:45","date_gmt":"2024-02-05T15:57:45","guid":{"rendered":"https:\/\/gufosaggio.net\/i\/why-did-michael-burry-sell-his-swaps\/"},"modified":"2024-02-05T15:57:45","modified_gmt":"2024-02-05T15:57:45","slug":"why-did-michael-burry-sell-his-swaps","status":"publish","type":"post","link":"https:\/\/gufosaggio.net\/i\/why-did-michael-burry-sell-his-swaps\/","title":{"rendered":"Why did Michael Burry sell his swaps?"},"content":{"rendered":"<p><strong>Background and Key Players<\/strong><br \/>\nIn 2005, Ben Hockett joined as head trader, bringing extensive knowledge of capital markets, derivatives, and fixed income trading. Charlie Ledley left Cornwall in 2009 to join a large Boston-based hedge fund. Ben Hockett has remained at the firm as the head trader and chief risk officer.<\/p>\n<p><strong>Understanding CDOs<\/strong><br \/>\nA collateralized debt obligation (CDO) is a complex structured finance product that is backed by a pool of loans and other assets and sold to institutional investors. A CDO is a particular type of derivative because its value is derived from another underlying asset.<\/p>\n<p><strong>Financial Worth of Individuals<\/strong><\/p>\n<ul>\n<li>\n<p>Net worth Year Financial Review Rich List Rank Net worth (A$) <\/p>\n<\/li>\n<li>\n<p>2017 $1.56 billion <\/p>\n<\/li>\n<li>\n<p>2018 45 $1.63 billion <\/p>\n<\/li>\n<li>\n<p>2019 58 $1.55 billion <\/p>\n<\/li>\n<li>\n<p>Michael Burry Net Worth: $300 Million<\/p>\n<\/li>\n<li>\n<p>Date of Birth: (50 years old)<\/p>\n<\/li>\n<li>\n<p>Place of Birth: San Jose, California<\/p>\n<\/li>\n<li>\n<p>Gender: Male<\/p>\n<\/li>\n<li>\n<p>Profession: Investor\/Hedge Fund Manager<\/p>\n<\/li>\n<\/ul>\n<p><strong>Character Motivations<\/strong><br \/>\nThe character of Mrak Baum wanted to wait, making counterparties suffer, which doesn&#8217;t make sense as they would have had to pay the same amount regardless of who held the swaps.<\/p>\n<p><strong>Role of Jared Vennett<\/strong><br \/>\nJared Vennett (based on Greg Lippmann), the executive in charge of global asset-backed securities trading at Deutsche Bank, is one of the first to understand Burry&#8217;s analysis, learning from one of the bankers who sold Burry an early credit default swap.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Background and Key Players In 2005, Ben Hockett joined as head trader, bringing extensive knowledge of capital markets, derivatives, and fixed income trading. Charlie Ledley left Cornwall in 2009 to join a large Boston-based hedge fund. Ben Hockett has remained at the firm as the head trader and chief risk officer. Understanding CDOs A collateralized &#8230; <a title=\"Why did Michael Burry sell his swaps?\" class=\"read-more\" href=\"https:\/\/gufosaggio.net\/i\/why-did-michael-burry-sell-his-swaps\/\" aria-label=\"Per saperne di pi\u00f9 su Why did Michael Burry sell his swaps?\">Leggi tutto<\/a><\/p>\n","protected":false},"author":1883,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-19017","post","type-post","status-publish","format-standard","hentry","category-w"],"_links":{"self":[{"href":"https:\/\/gufosaggio.net\/i\/wp-json\/wp\/v2\/posts\/19017","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gufosaggio.net\/i\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gufosaggio.net\/i\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/gufosaggio.net\/i\/wp-json\/wp\/v2\/users\/1883"}],"replies":[{"embeddable":true,"href":"https:\/\/gufosaggio.net\/i\/wp-json\/wp\/v2\/comments?post=19017"}],"version-history":[{"count":0,"href":"https:\/\/gufosaggio.net\/i\/wp-json\/wp\/v2\/posts\/19017\/revisions"}],"wp:attachment":[{"href":"https:\/\/gufosaggio.net\/i\/wp-json\/wp\/v2\/media?parent=19017"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gufosaggio.net\/i\/wp-json\/wp\/v2\/categories?post=19017"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gufosaggio.net\/i\/wp-json\/wp\/v2\/tags?post=19017"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}