Mark Baum is a fictional character based on the real-life hedge fund manager Steve Eisman, who is best known for betting against the subprime mortgage market during the 2007-2008 financial crisis. Steve Carell portrayed him in the 2015 film adaptation of Michael Lewis’ book The Big Short, which chronicled the events and the people who foresaw the collapse of the US housing bubble.
Early Life and Education
Mark Baum was born Steven Eisman in New York City on July 8, 1962. He attended Yeshiva schools and graduated magna cum laude from the University of Pennsylvania in 1984. He then earned his Juris Doctor degree from Harvard Law School with honors. His parents, Elliott and Lillian Eisman, were both brokers for Oppenheimer.
Career and Achievements
Mark Baum started his career as a lawyer but soon realized he was unhappy with his work. His parents arranged a position for him at Oppenheimer as an equity analyst. Where they paid his first year of salary due to the anti-nepotism rules. He quickly rose to prominence as a savvy and outspoken investor who was not afraid to challenge the conventional wisdom and expose the flaws of the financial system.
Baum joined FrontPoint Partners in 2004, a Morgan Stanley hedge fund subsidiary, where he managed more than $1 billion in assets. He became famous for his contrarian bets against the subprime mortgage industry, which he believed was riddled with fraud and corruption. Baum used credit default swaps to short the collateralized debt obligations (CDOs) backed by these risky loans and made huge profits when the market crashed in 2007-2008. He was among the few people who predicted and profited from the financial crisis, later dubbed “the greatest trade ever.”
Baum left FrontPoint Partners in 2011 amid investor withdrawals following an investigation of illegal insider trading by one of his colleagues. He then founded his hedge fund, Emrys Partners, with $23 million in seed capital. However, he struggled to replicate his previous success and underperformed in the market in 2012 and 2013. He shut down his fund in 2014, citing that “making investment decisions by looking solely at the fundamentals of individual companies is no longer a viable investment philosophy.”
Baum joined Neuberger Berman in 2014 as a managing director and a portfolio manager for the Eisman Group, which is run by his parents and specializes in managing portfolios of stocks for wealthy clients. He oversees about $500 million in assets and focuses on financial sector stocks.
Personal Life
Mark Baum is married to Valerie Feigen, an investor and a former analyst at JPMorgan Chase. They reside in New York City and have three kids together. He eats kosher food and is Jewish. He is also an avid reader and a fan of baseball.
Mark Baum Net Worth
Mark Baum net worth is estimated at around $300 million as of 2023. He earned most of his wealth from his successful trades during the financial crisis and his fees and commissions as a hedge fund manager. He is considered one of the world’s most influential and respected investors.
Age & Height
Steve Eisman is 61 years old as of September 2023, having been born on July 8, 1962. His height is 1.67 meters (5 feet and 6 inches), and his weight is 70 kilograms (154 pounds).
Conclusion
Mark Baum is a fictional character based on the real-life hedge fund manager Steve Eisman. Who is best known for betting against the subprime mortgage market during the 2007-2008 financial crisis. Steve Carell portrayed him in the 2015 film adaptation of Michael Lewis’ book The Big Short. Which chronicled the events and the people who foresaw the collapse of the US housing bubble.
Mark Baum is a successful and influential investor who has made a fortune from his contrarian and courageous trades. He is also a vocal critic of the financial system. The for-profit education industry, which he believes are corrupt and harmful to society. He is a complex and fascinating character who has inspired many people with his story and his insights.
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