大空头

Yeah. Okay.
我们也要马上行动
Let’s get on this quickly too.
因为如果他是对的
Because if he’s right,
手握几百万债券的
every loser with a couple million
亏损者们都会疯狂抛售的
bucks and a fund is gonna be jumping on this.
我们走
Let’s go.
就在那个早上
Just that morning…
摩根大通 摩根大通
JPMorgan Chase. JPMorgan Chase.
好了 别一个劲摩根大通了
Okay. Stop saying “JPMorgan Chase”.
我有很好的预感
I got a good feeling about this.
但这只是个会面
It’s just a meeting though, you know?
这只是普通的会面 就好像
It’s just a meeting. It’s something like…
人们总是在开会
people have meetings all the time. You know?
喝着咖啡开个会
People drink their coffee, they have a meeting.
-是布朗菲尔德基金吗 -是的
– Brownfield Fund? – Yes!
-你好 -泰德你好
– Hey. Hello. – Ted.
我是克里斯 我代泰德来的
Chris. I’m on Ted’s desk.
克里斯 好吧
Chris. Okay.
-我是查理 查理·盖勒 -查理你好
– I’m Charlie, Charlie Geller. – Charlie.
-我是杰米·希普利 你好 -杰米你好
– Jamie Shipley. Hi. – Jamie.
很高兴可以加入你们的交易平台
We’re so excited to get set up on your trading platform.
好的
Cool.
在这坐一会儿
Here, have a seat a second.
好的
All right.
泰德让我做点会前准备
So, I… Ted had asked me to do some meeting prep.
但是我找不到你们的营销资料
But I couldn’t find any marketing material on you guys.
我们刚从博尔德搬过来
We just moved here from Boulder.
-是的 -知道了
– Yeah. – Got it.
能看看你们的报价文件吗
Could we see some of your offering documents?
布朗菲尔德是自费成立的
Well, Brownfield is its own money.
-是我们自己的投资 -是的
– It’s our money. – Yeah.
可以说说你们掌管多少资产吗
Can you tell us how much you manage?
当然 我们现在有三千万
Of course. We’re doing $30 million right now.
但是四年前刚起步的时候只有十一万
Um, but we started four years ago with $110,000.
所以你也能看得出 效益很显著
So, as you can see, that’s pretty phenomenal returns.
我们想和摩根大通签订ISDA协议
We want to get an ISDA agreement with JPMorgan so we can
来做长♥期♥期权
deal in long-term options.
-真棒 -是的
– That’s really cool. – Yeah.
真的做得很好
That is so cool.
谢谢
Thank you.
但你们没达到签ISDA协议的资金门槛
But you guys are under the capital requirements for an ISDA.
多少钱
By how much?
十四亿七千万 是笔大数目
Uh… One billion four hundred seventy million, so… a lot.
我们是不是看起来很傻
This makes us look bad, doesn’t it,
连资金要求都不知道
that we didn’t know what the capital requirements were?
确实不太好
Uh… It’s not great.
但是
But, uh,
保持现在的盈利
keep up those returns and give us a call
等达到要求了可以再联♥系♥我们
way down the line. You know.
好吗
Okay?
-好的 -谢谢你 克里斯
– Okay. – Thanks, Chris.
祝你们过得愉快
Have a good one, guys.
谢谢 克里斯
Thank you, Chris.
该死
Shit!
谁会把会面时间
Who the fuck schedules a meeting
-定在下午四点五十啊 -天啊
– 4:50 in the afternoon? – Oh, my, God.
太伤人了
That was so painful.
老兄 美国银行和贝尔斯登甚至没回电
Dude, B of A and Bear didn’t even return our calls.
连该死的美联银行都拒绝了我们
And even fucking Wachovia blew us off, man!
我知道
I know.
这都是其他没有通过这关的
Here’s the prospectuses of all the other losers
失败者们留下的募股文件
who didn’t make it past the lobby.
我♥干♥不下去了
I don’t think I can do this anymore. You know.
我还年轻 我还能改变一下我的生活
I’m young, yet. I can still do something with my life.
我想念科罗拉多 那里的大♥麻♥好多了
I miss Colorado anyway. The weed’s better.
先生们 请你们离开
Gentlemen, I need you to leave.
是的 我们这就走 我们走吧
Yep, yep, we’re going. Let’s go.
看这个 看这个
Look at this. Look at this.
这个人说房♥地♥产♥市场是巨大的泡沫
This guy says that the housing market’s a giant bubble.
好了 其实这部分不完全符合事实
Okay, so this part isn’t totally accurate, you know.
我们不是在拒绝了我们的银行大厅里
We didn’t find Jared Vennett’s housing bubble pitch
发现的杰瑞德·温尼特的房♥地♥产♥泡沫宣传册
in the lobby of a bank that rejected us.
事实是
The truth is, um,
有个朋友和查理说起
a friend had told Charlie about it, and I read about it
我在《格兰特利率观察》上读到的
in Grant’s Interest Rate Observer.
真疯狂
This is crazy.
这东西好疯狂
This is crazy stuff.
天啊 他说投资基于信用违约掉期的
Shit, he’s saying that there’s 10-to-1 returns
住房♥抵押贷款支持证券可以带来十倍的收益
on credit default swaps for mortgage-backed securities?
而且整个房♥地♥产♥市场就要崩溃了
And the whole housing market is about to collapse?
对于杰米和查理来说
For Jamie and Charlie, the housing market
房♥地♥产♥市场末日的预言如同音乐一般悦耳
doomsday prediction was music to their ears.
快乐只因今日寻得挚友 于我心中
I’m so happy, coz today I found my friend, they’re in my head.
他们起初在杰米的车♥库♥里创业时
They had started working out of Jamie’s garage
用的是杰米驾驶帆船往返东岸
with $110,000 Jamie had saved
积攒下的十一万美元
taking sailboats up and down the East Coast.
我们的投资方案很简单
Our investment strategy was simple.
人们不愿预想坏事的发生
People hate to think about bad things happening,
所以他们总是会低估发生的可能性
so they always underestimate their likelihood.
他们的方案简单而精明
Their strategy was simple and brilliant.
正如他所说
What he said.
杰米和查理发现市场愿以极低的价格出♥售♥
Jamie and Charlie found markets will sell options very cheaply
自认为不可能发生的事情的期权
on things they think will never happen.
所以如果他们错了 损失也不大
So when they were wrong, they were wrong small,
但如果是对的 就能大赚一笔
but when they were right, they were right big.
几年内他们就把十一万变成了三千万
Within a few years they had turned $110,000 into $30 million.
然后他们就去了纽约
But then it was time to go to New York City.
但到现在为止 进展不太好
And so far, it wasn’t going very well.
如果真的有利可图呢
So what if it does seem interesting. No…
没有银行愿意和我们签ISDA协议
No bank will give us our ISDA.
我们没救了
We’re dead in the water.
这些交易完全做不起来
These kind of trades are totally out of the question.
我们可以给本打电♥话♥
We got to call Ben.
我们给本打电♥话♥吧
Let’s call Ben!
本·瑞科特曾在大通银行新加坡分部当交易员
Ben Rickert was a former trader in Singapore
后来厌恶了这一切 退出了金融业
for Chase who quit the whole game in disgust.
他是杰米住在科罗拉多时的邻居
He happened to be Jamie’s neighbor when they were in Colorado
二人的相遇缘于遛狗
and they met walking dogs.
但本很悲观
But Ben was dark.
他不仅觉得整个系统会崩溃
He didn’t just think the whole system would fail.
他觉得整个世界都会沦陷
He thought the whole world was going down.
里面的蔬菜都是从我花♥园♥里新摘的
Every one of these vegetables is fresh from my garden.
你们应该经营起自己的花♥园♥
You guys should start your own garden.
首先你要去除土壤里的石油化学物质
What you got to do is get your soil off the petrochemicals.
我用木屑和肥料来恢复土壤
I used wood ash and urine to help restore the soil.
它们会产生硝酸铵
It creates ammonium nitrate.
种子很重要
Seeds are gonna be the new currency.
不要买♥♥孟山都的弗兰肯种子
And not those Franken-seeds from Monsanto.
要有机的健康种子
I’m talking about good, healthy, organic seeds.
为自己种个菜园
Make yourself a garden.
-学会依靠土地生活 -你疯了
– Learn to live off the land. – You’re a fucking lunatic.
本有在大银行工作的经验
Ben had real experience in a big bank.
杰米和查理甚至连
Jamie and Charlie had
一个曼哈顿银行的卫生间都没去过
never even been in a Manhattan bank bathroom.
而本已经厌倦了银行业
But Ben was done with the banking world.
他很聪明
He was very clear.
好了 我们得算算数据
All right, let’s crunch some numbers
然后再谈给本打电♥话♥的事
and then maybe we’ll talk about calling Ben.
我们总是在算数据
We’re always crunching numbers.
要算到什么时候
When haven’t we crunched the numbers?
我们这次要算得再精细些