Greg Lippmann Famous 2007 Short Subprime Presentation [PDF]

Via scmessina 

Famous Greg Lippmann Deutsche Bank presentation sent to hedge funds arguing for the bet against subprime, mentioned in  The Big Short: Inside the Doomsday Machine:

• The flipbook the FCIC interview mentions several times:”FCIC: It strikes me that the title of the flipbook is shorting home equity mezzanine tranches and not shorting subprime mezzanine tranches. Was there a focus on home equity mortgages or what was the reason for that?GL: That’s just a semantical issue. Home equity is a catch-all for subprime and home equity l[ie]ns, you know, which you...
  

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