2017 Annual Forecast Dinner - Keynote Speaker 

roe = profit/equity equity = (assets - liabilities)

123 How to reach to the leverage?

@@taylorkisilevich5633 37 to 1 based on this formula? I for some reason thought that by leverage he meant that how much credit you can issue for 1 dollar on the Federal Reserve account.

Ken Lewis from Bank of America. He's referring to the purchase of Countrywide (bubonic plague) and Merrill Lynch (bubonic plague part deux).

@@MacauleyDuration Good guess!

Definitely, Ken Lewis.

Soaring Hawk Vintage , You made me laugh! So true 😃

Well, he caught wind of the selling of the swaps from a wrong number, but he did more research than sending a team to Florida.

It’s spelt schmuck and it means an idiot or a fool or just an asshole. It’s usually said by Jewish people

You should have that checked out

Luke Jolley is it private debt/household debt that matters more?

Awenda18 absolutely, private debt like household/corporate debt can be a serious problem. In fact, state government debt and municipal/city debt can be a real problem, but for some reason ppl fixate on federal government debt which is really low down on the list of priorities. Federal government debt is literally just the sum of private savings invested in government savings bonds, that’s it, that’s all.

@@lukejolley8354 Problem is, to pay the interest rate the government needs money, and that money comes from taxes.

That's just not entirely true. Eisman worked as an analyst in the bonds industry for a long time and was vocal about the abuses. IIRC he was in the game by betting against companies that had something to do with the housing bubble - lenders, construction companies and the like, he was looking for a way to short the mortgage bonds directly but couldn't find one. You shouldn't take everything from the movie literally, they made it entertaining so they changed details and timelines so that the audience could follow the plot better, like every movie does. The book explains things way more in depth and really if you had taken anything from the movie you would follow Dr. Michael Bury's 'advice' and actually read things, not just assume. And even if that would be all wrong, you really don't want Dr. Micheal Bury to hold speeches - he just isn't that guy, Eisman has the most charisma of the bunch I assume. The Cornwall guys didn't like the limelight so they stayed out of it, also they are maybe a bit small time to be keynote speakers. Then you'd have Greg Lippman from Deutsche Bank left and he would be really interesting, though I don't know if he is the same "big picture" kinda guy like Eisman is.

Keep saving your money under the mattress.

Oliver North read the book, not watch the movie. Eismans team was already looking for ways to short the housing market before vennet called them by accident.

Really? Wake up