大空头

我不开心的时候就很开心
I am happy when I’m unhappy.
维尼·丹尼尔
Vinnie Daniel.
你知道怎么做松饼吗
You know how to make a muffin?
在马克手下负责数据
Mark’s numbers guy.
怎么洗衣服
Do you even know how
-你总知道吧 铺床呢 -够了
– to do laundry? Make a bed? – Okay…
维尼小时候
Vinnie lost his father
他父亲在一起暴♥力♥犯罪中丧命
to a violent crime when he was young.
跟马克一样 他也不谈这事
Just like Mark, he didn’t talk about it.
我不谈那事
I don’t talk about that.
辛西娅没开玩笑
Cynthia’s no joke.
她真的可以把他弄去佛蒙特
She could actually make him move to Vermont.
她都可以让我系安全带
I mean, she made me start wearing a seatbelt.
-你想让我 -波特·柯林斯
– Hey, you want me to… – Porter Collins.
前奥林匹克划船手 读了布朗大学
Former Olympic rower who went to Brown.
他在前一家公♥司♥就跟鲍姆合作
He worked with Baum at a previous firm
他弄不明白怎么没人听鲍姆的
and couldn’t figure out why no one listened to Baum.
他什么好点子都有
The guy with all the good ideas.
抱歉 我想你找错FrontPoint了
Sorry. I think you have the wrong FrontPoint.
因为这幢楼里
‘Cause there is another
还有一家FrontPoint 搞债券的
FrontPoint in this same building that is bonds.
至于丹尼·摩西
And Danny Moses.
这伙人里最乐观的
The optimist of the bunch.
也是做交易的好手
And a hell of a trader.
这是大家能忍♥受他无来由乐观的唯一原因
Which is the only reason they put up with his bullshit optimism.
好奇怪的来电
That was a weird call.
你接个打错的电♥话♥时间都比别人长
You take longer with a wrong number than anybody else.
是德意志银行的那家伙
It was this guy from Deutsche
说什么关于做空房♥地♥产♥债券的
who was talking about shorting housing bonds.
说到一半
And then in the middle of the
我才意识到他找的是另一家FrontPoint
call I realized he had the wrong FrontPoint.
然后 因为他想找八楼的那家
And then… ‘Cause he wanted the one on the 8th floor.
他想做空房♥地♥产♥债券
He wanted to short housing bonds?
每天得有五次
Uh-huh. That happens like five times a day
找FrontPoint找错的
that somebody gets the wrong FrontPoint.
-我们应该改名 -慢着
– We should change our name. – Wait. Wait.
他想做空房♥地♥产♥债券吗
He wanted to short housing bonds?
什么人会反赌房♥地♥产♥啊
Who bets against housing?
ABX现在多少
What’s the ABX at?
什么是ABX
What’s ABX?
用来追踪次级抵押证券价值的指数
It tracks subprime mortgage bond value.
回去歇着吧
Go back to sleep.
ABX现在是
The ABX is at, uh…
下跌了 过去一年下跌了三个点
Wow, it’s down! It’s down three points since last year.
太奇怪了 我还没听到这方面的风声呢
That’s weird. I haven’t heard a peep about that.
这家伙叫什么名字
What was this guy’s name?
杰瑞德·温尼特 温尼特
Jared Vennett. Vennett.
没错 这些幸运的混♥蛋♥
That’s right. These lucky sons of bitches
通过一通错误来电知道了华尔街史上的
caught wind of one of the best trades in Wall Street history
最佳交易
from a wrong number.
他们该给我那个蠢货助理分10%
They should have paid 10% to my fuckstick assistant.
他叫杰瑞德·温尼特 温尼特
His name was Jared Vennett. Vennett.
德意志银行的杰瑞德·温尼特
Jared Vennett from Deutsche.
听着就很肤浅
Sounded very sketchy.
听起来像个蠢货
Sounds like a douchebag.
你闻到了吗
Do you smell that?
你闻到了吗
Do you smell that?
我闻到钱的味道
I smell money.
这就是你们的基本抵押贷款
This is your basic mortgage…
好的 你好
Okay, hi. How are you?
请坐
Have a seat.
好的 德意志银行的温尼特先生
Okay, Mr. Vennett from Deutsche Bank.
有什么
What do we have?
给你
There you go.
你跟多少人谈过这笔交易
So, how many people have you talked to about this trade?
有那么几个 好几个都感兴趣
A few. There’s definitely some interest.
-不行 -老板会收拾我
– No! – My boss would have my ass…
-不行 -你疯了吗 杰瑞德
– N.O.! – You crazy, Jared?
-你疯了 -滚蛋
– Get lost. – Fuck you.
所以你就来找我们谈 打错的电♥话♥
Which is why you’re here talking to us, a wrong number.
听起来确实很多人感兴趣
Sounds like there’s a lot of interest.
好吧 有些人请我们来
All right. A few people have invited us in
就是想笑话这笔交易 你们也是吗
just to laugh at me on this deal. Is that you?
就为了笑话我吗
Is that what this is?
不是的
That’s not what this is.
只是马克想这样
That’s just how Mark is.
-说说你的想法 -抱歉
– Let’s see what you got. – I’m sorry.
你闻到了吗 那是什么
You smell that? What is that?
-什么 -那是什么味道
– What? – What’s that smell?
你的古龙水
Your cologne?
不是
No.
机遇
Opportunity.
不 是钱
No. Money.
好吧
Okay.
-我闻到钱的味道 -好吧
– I smell money. – Okay.
-克里斯 见鬼 -抱歉
– Chris, God damn it. – Sorry.
这就是你们的基本抵押债券
This is your basic mortgage bond.
好吧 一开始很简单
All right? The originals were simple.
就是上千笔AAA级抵押贷款捆绑起来
They were just thousands of AAA mortgages bundled together,
由美国政♥府♥担♥保♥
guaranteed by the U.S. Government.
现代的却不一样了
The modern ones are different.
都是私人的 由各级别贷款打包而成
They’re private. And they’re made up of layers of tranches.
表示”东西的一部分”
最上面一级 AAA 最先给付
The highest level, AAA, is getting paid first.
最低级 B级 最后给付
The lowest rated, B, is getting paid last,
最先承担违约
taking on defaults first.
很明显 如果你买♥♥B级就可以赚更多钱
Now, obviously, if you’re buying B’s, you could make more money.
但有些风险
But they’re a little risky.
有时它们会违约
Sometimes they fail.
克里斯
Chris?
到某个时候 这些B级和BB级
Somewhere along the line, these B’s and BB’s
就从有一点风险
went from a little risky
变成了狗屎 垃圾箱在哪儿
to dog shit. Where’s the trash?
就在你身后
It’s right behind you.
我指的是信贷评分的最低分
I’m talking rock-bottom FICO scores.
无需收入证明
No income verification.
浮动利率 狗屁
Adjustable rates. Dog shit!
违约率已经从一个百分点上升到了四个
The default rates are already up from 1% to 4%, fellas.
如果升到八个 肯定会升到八个
And if they rise to 8%, and they will,
这些评级BBB的债券就会一文不值
a lot of these BBB’s are going to zero, too.
这 你离太近了
And that… You’re too close.
这就是机遇
…is an opportunity.
好吧
Okay.
你是说违约率达到8%债券就会崩♥盘♥
You’re saying that at 8% the bonds fail
现在已经4%了吗
and we are already at 4%?
对
That’s right.
达到8% 世界末日就来临了
If they go to 8%, it’s Armageddon?
对 是这样
Yeah. That’s right.
为什么没人谈起过
How come nobody’s talking about this?
你确定没有算错
You’re completely sure of the math?
看看他 他是我的宽客
Look at him. That’s my quant.
你的什么
Your what?
我的计量金融师
My quantitative!
我的数学专家 好好看看
My math specialist. Look at him.
发现特别之处了吗 看他的脸就知道
You notice anything different about him? Look at his face.
这也太种族主义了
That’s pretty racist.
看他精明的双目 给你个提示
Look at his eyes! I’ll give you a hint.
他姓杨
His name’s Yang!
他在中国拿过全国数学♥联♥赛冠军
He won a national math competition in China!
他甚至不会说英语
He doesn’t even speak English!
我确定没算错