The Big Short (2015)
John Magaro: Charlie Geller
Photos
Quotes
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Charlie Geller : People hate to think about bad things happening so they always underestimate their likelihood.
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Casey : What am I supposed to do? Write a piece called "We're all fucked"?
Charlie Geller : Yes! That's a perfect title!
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JP Morgan Employee : Ted had asked me to do some meeting prep but I couldn't find any marketing material on you guys.
Charlie Geller : Oh, we just moved here from Boulder.
JP Morgan Employee : Yeah. Well, can we see your offering documents
Charlie Geller : Well, Brownfield is its own money.
Jamie Shipley : It's our money.
JP Morgan Employee : Well, can you tell us how much you manage?
Charlie Geller : Of course. We're doing 30 million right now, uh, but we started four years ago with 110 thousand. So, as you can see, that's pretty phenomenal returns.
Jamie Shipley : We want to get an ISDA agreement so we can deal in long-term options.
[subtitled: ISDA Agreement: An agreement that lets an investor sit at the 'big boy table' and make high level trades not available to stupid amateurs.Trying to be a high stakes trader without an ISDA is like trying to win the Indy 500 riding a llama]
JP Morgan Employee : [in a slightly condescending tone] That's really cool. That is SO cool.
Charlie Geller : Thank you.
JP Morgan Employee : But, uh... you guys are under the capital requirements for an ISDA.
JP Morgan Employee : By how much?
JP Morgan Employee : [thinking] Uh... how much? One billion, four hundred seventy million. So... a lot.
Charlie Geller : This makes us look bad, doesn't it? That we didn't know what the capital requirements were?
JP Morgan Employee : Uh... it's not great. But keep up those returns and give us a call way down the line, you know. Okay?
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Charlie Geller : Our investment-strategy was simple. People hate to think about bad things happening so they always underestimate their likelihood.
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Casey : Thanks for coming guys, totally fucking awesome to see you.
Charlie Geller : Yeah. Casey, I've always hated you because you were a prick in college and you are a prick today!
Casey : Thanks Charlie! Still living with your mom?
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Charlie Geller : Did you get a chance to take a look at what we sent you, Ben?
Ben Rickert : Alright, Charlie, I did. Hang on.
[Long pause]
Charlie Geller : Ben, are you still there?
Ben Rickert : Yeah. I'll be honest, gentlemen; it scared the shit out of me.
Charlie Geller : That's a good thing, right? That means that Vennett guy is not wrong?
Ben Rickert : No, he's not.
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Charlie Geller : Look, either we're right or we're wrong in a giant, giant way. And if we're wrong, then we gotta find someone to help us get out of this trade.
Jamie Shipley : I'm not feeling remotely confident that we're right. and if we're wrong, who's gonna tell us? who understands this stuff? It makes no sense!
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Charlie Geller : This isn't how I pictured it.
Jamie Shipley : What did you think you'd find?
Charlie Geller : I don't know. Grown-ups.