Lehman Brothers, every mention
84 scenes, the whole family · ← back to Lehman Brothers
tap a year for its mentions
every year anyone Ted Seides 13Andrew Tsai 10Michael Rees 8Taimur Hyat 7Charlie Ellis 7Jace Auby 6Steve Rattner 5Daniel Adamson 5Brett Barakett 5Tim McCusker 4
Verbatim, from the transcripts: the passages where Lehman Brothers comes up
Kieran Goodwin – Private Credit Concerns (EP.494)
- ▶ 13:56 Kieran Goodwin Lehman position, for instance, many of these distressed firms had for 10 years.
Gavin Baker – Truth-Seeking and Crossover Investing at Atreides (EP.489)
- ▶ 17:25 Gavin Baker I said, well, I have these exploding offers from Goldman Sachs and Lehman Brothers. 2 times in the scene
Jay Ripley – Emerging Manager Selection at GEM (EP.470)
- ▶ 9:44 Jay Ripley You had AIG and then ultimately Lehman a month later.
CIO Greatest Hits: Sovereign Wealth Funds – Raphael Arndt (Australia Future Fund)
- ▶ 52:50 Raphael Arndt Let's not lock into a particular asset allocation, and let's sort of approach this from first principles, and suddenly the financial crisis happened, and so fortuitously, and through some good decisions made by the people who were here…
Ben Forman – Unlocking Blockchain's Potential (EP.441)
- ▶ 4:52 Ted Seides Our conversation this time around dives into the evolution of blockchain over the last few years, including the industry's Lehman moment and subsequent recovery.
- ▶ 7:23 Ben Forman The industry had its Lehman and Enron moment, beginning with Luna, followed by BlockFi, followed by FTX, and then Genesis.
Meghan Reynolds – Art of Capital Formation (EP.438)
- ▶ 10:49 Megan Reynolds Just on the back of the financial crisis, TPG had raised a twenty billion dollar fund that it started to deploy very quickly into mega buyout deals right before Lehman fell and the financial crisis began.
Jase Auby - Risk, Size, and Talent at Texas Teachers (EP.404)
- ▶ 9:07 Jace Auby And I haven't been connected with a place like Goldman in a long time or Lehman in a long time, but
- ▶ 9:20 Jace Auby My progression is, I spent three years at Goldman, and then some folks left Goldman and went over to Lehman Brothers. 4 times in the scene
- ▶ 33:48 Jace Auby Sometimes I actually don't like to travel because there's so many people coming down to visit us in Austin that you end up missing meetings down there, but facing externally has really been my focus, and that's not something I've done for…
David Eichhorn - Serving Clients and Reducing Risk at NISA (EP.403)
- ▶ 29:39 David Eichhorn And they would argue we're double a rated or whoever it was could have been Lehman could have been anyone.
Brett Barakett - Digging for the Puck at Tremblant Capital (EP.386)
- ▶ 23:28 Brett Barakett And so we start to stress about counterparty risk, particularly as it relates to Lehman Brothers. 4 times in the scene
- ▶ 54:41 Brett Barakett We took our money away from Lehman Brothers in the summer of oh seven.
Michael Leffell – Opening Doors to Niche Private Opportunities at 10 East (EP.373)
- ▶ 13:23 Michael Leffell I think Goldman Sachs, Oppenheimer & Company, Lehman Brothers, Bear Stearns.
Morgan Housel – Same as Ever (EP.359)
- ▶ 36:17 Morgan Housel COVID, Lehman Brothers, Nine-Eleven, collapse of the Soviet Union, Pearl Harbor, Great Depression. 2 times in the scene
- ▶ 42:18 Morgan Housel What people missed is that if they had the same incentives as the banker from Lehman Brothers, and their boss said, hey, if you package these subprime bonds, we'll give you a four million dollar bonus.
Rick Heitzmann – New York Venture Investing at FirstMark Capital (EP.350)
- ▶ 13:45 Rick Heitzman And Lehman Brothers and Bear Stearns took them public.
Isaac Corre – Event-Driven Investing at Governors Lane (EP.344)
- ▶ 11:52 Isaac Corre I had done a fair amount of bankruptcy litigation, so it was a pretty natural fit for us, and we were involved in a lot of the large bankruptcies, Lehman, CIT, some of the auto stuff, a bunch of the financials.
Adam Karr – Extreme Alignment at Orbis (EP.338)
Kipp deVeer – The World of Private Credit at Ares (EP.329)
- ▶ 24:40 Kipp deVeer So we were fortunate that we were able to convince a couple of guys that had spun out of Lehman Brothers to start SSG to sell us the company a few years ago.
Aaron Sack – Branded Middle Market Investing at Morgan Stanley (Capital Allocators, EP.311)
- ▶ 36:26 Aaron Sack But I was in my office on a Sunday in the fall, September, watching people carry boxes out of Lehman Brothers, which is diagonally across Broadway from us.
David Abrams – Sports Ecosystem Investing at Velocity (Capital Allocators, EP. 303)
- ▶ 14:47 David Abrams Lehman went out of business.
Anthony Scaramucci – Another Winter and Another Rebirth (Capital Allocators, EP.292)
- ▶ 31:47 Anthony Scaramucci If you know the story of Lehman Brothers, that's actually how Lehman failed. 2 times in the scene
Gregg Lemkau - The Evolution of MSD (Capital Allocators, EP.291)
- ▶ 12:14 Gregg Lemkau There was a moment I remember sitting with my wife right around Thanksgiving at our dining room table and just kind of looking at each other like, I think Lehman had gone under at the time.
Charley Ellis - Figuring Out Investing and Vanguard (Capital Allocators, EP.286)
- ▶ 59:40 Charlie Ellis So you got to go work at Salomon Brothers and Lehman Brothers, and he did a couple of years at both.
Michael Rees – Inside GP Stakes at Dyal Capital (Capital Allocators, EP.278)
- ▶ 7:53 Michael Rees So had a great run, worked inside a lot of banks and really looking at how they were structured and, and what a financial services company was, and then was asked by a friend to give corporate development a try over at Lehman Brothers. 6 times in the scene
- ▶ 15:43 Michael Rees You look back, you know, it was a darn near four-letter word in the 2000 era when a big, bad institution like Lehman Brothers or Morgan Stanley or Merrill Lynch bought a 20% stake in a firm.
- ▶ 54:07 Michael Rees I think the two people that I credit with just being amazing professionals, one, Erin Callen, she was a banker that I worked with at Lehman Brothers, and the best combination of intellect and relationship capabilities of any professional…
Josh Friedman – Master Class in Credit Investing at Canyon (Capital Allocators, EP.263)
- ▶ 1:01:00 Josh Friedman There's the distressed situation, something's a total mess, and it's in the toilet, and everybody's selling it, like it's Lehman Brothers, and it's wildly complex, or it's the Puerto Rican bankruptcy.
Rob Citrone – Emerging Markets, Hedge Funds, and Staying in the Game (Capital Allocators, EP.261)
- ▶ 15:50 Rob Citrone I mean, during the crisis in oh seven, it was in the fall, and TARP had just fallen, and the market was a mess, Lehman had gone down.
Ben Forman – Opportunities in DeFi (EP.256, Crypto for Institutions 2, EP.03)
- ▶ 7:03 Ben Forman I started my career a few months after Bear Stearns went under and a few months before Lehman Brothers went under.
- ▶ 30:04 Ben Forman The TenQ of Lehman Brothers. 2 times in the scene
James Aitken – Market Implications of the Situation in Ukraine (Capital Allocators, EP.239)
- ▶ 18:38 Ted Seides I'm hearing many versions of Lehman going on in my head with the complexities of stopping the source of liquidity in this one sector.
Christopher Zook – Thematic Investing and Raving Fans at CAZ Investments (Capital Allocators, EP.226)
- ▶ 5:49 Christopher Zook Was quickly recruited to Lehman Brothers very soon after I actually started in the industry. 2 times in the scene
Jordi Visser – Analytics and AQ at Weiss (Capital Allocators, EP.221)
- ▶ 53:16 Jordi Visser This is Lehman. 4 times in the scene
Rick Rieder – BlackRock (Manager Meetings, EP.08)
- ▶ 12:32 Rick Rieder Started at BF Hutton, which became Lehman Brothers. 4 times in the scene
- ▶ 13:08 Tim McCusker Was there a mentor that you look back on who really helped you along the way, either at Lehman Brothers or even at BlackRock, helped either shape your investment philosophy or helped you as a leader along the way? 4 times in the scene
Bruce Martin – Still Lake Capital [Manager Meetings, EP.7)
- ▶ 16:56 Bruce Martin And then I had a friend who was a sales guy at Lehman Brothers in Boston.
Jonathan Lewinsohn – Diameter Capital Partners (Manager Meetings, EP.05)
- ▶ 19:57 Jonathan Lewinsohn Even between, frankly, when Bear Stearns went in March of oh eight and Lehman went in September of oh eight,
Charley Ellis – The Magic of David Swensen (Capital Allocators, EP.197)
- ▶ 38:05 Charlie Ellis So sure enough, Lehman was on the list years before the Lehman problem, and years before the Lehman problem, they were taken off the list. 6 times in the scene
Brian Bares – Qualitative Concentration at BCM (Capital Allocators, EP.191)
- ▶ 54:53 Brian Bares I have friends that, you know, ran funds that through oh eight, oh nine had Lehman brothers as investors and it sank the firm.
David Baran and Kazuhiko Shibata – Friendly Activism in Japan at Symphony (Capital Allocators, EP.176)
- ▶ 6:44 David Baran So when I graduated, boarded a plane for Tokyo and sat down at the desk at first in Lehman Hutton, I mean, right when Nippon Life purchased steak in the company, and that was the start of everything. 2 times in the scene
Collette Chilton – Humility and Loyalty at Williams College (Capital Allocators, EP.174)
- ▶ 23:21 Colette Chilton We had just moved the files from Williamstown to Boston, and I don't know if it was the weekend of Lehman or Bear Stearns.
Mathieu Chabran – Good Deals Have No Wheels at Tikehau Capital (First Meeting, EP.23)
- ▶ 51:52 Mathieu Chabran On Friday, September the 13th, 2008, Lehman Brothers were singly raided. 2 times in the scene
Diversity, Equity & Inclusion 1: Jacob Walthour – A Blueprint for Diversity (Capital Allocators, EP.151)
- ▶ 4:55 Jake Walthour I was a investment banking analyst at Lehman Brothers, and I sort of got there through a non-traditional route. 4 times in the scene
- ▶ 10:15 Ted Seides And what was the step you took out of Lehman? 3 times in the scene
Taimur Hyat – After the Great Lockdown (Capital Allocators, EP.149)
- ▶ 4:41 Ted Seides We cover Timer's lessons from academic research in economics, management consulting, and working at Lehman Brothers through the financial crisis, PGM's business, and the Megatrends series.
- ▶ 10:58 Taimur Hyat The first step outside of McKinsey was Lehman Brothers, an interesting choice in 2006 when I joined them, but a company that had both asset management and Neuberger Berman in those days that had the capital markets business that had… 7 times in the scene
Sustainable Investing 10: Hiro Mizuno – Changing the Game (Capital Allocators, EP.148)
- ▶ 58:58 Hiro Mizuno And that's what we did during the, uh, the Lehman crisis. 2 times in the scene
Daniel Adamson – Innovation from Asset Giants at Capital Constellation (EP.136)
- ▶ 6:44 Daniel Adamson And while even at 26, 28, when I was at McKinsey, 29, when I was at Lehman getting my real education, I still might not have said yet that investing was for me.
- ▶ 9:05 Daniel Adamson And then from there, I had the wisdom and foresight to join Lehman Brothers in 2006, which, while obviously a disaster in terms of what happened with the business, turned out to be invaluable to me personally in my education. 4 times in the scene
Andrew Golden – Navigating Princeton's Endowment Through (Another) Crisis (Capital Allocators, EP.133)
- ▶ 4:52 Andy Golden But there's this little thing called fiduciary responsibility, and during what I think is objectively the most volatile markets in my career, even compared to the Lehman days, you gotta understand 2 times in the scene
Eric Peters – Trading and Evolution at One River (First Meeting, EP.18)
- ▶ 12:20 Eric Peters So I spent two years in Chicago as a pit trader and was, was introduced to a pretty senior person at Lehman Brothers who persuaded me that I need to do something more with my career than be standing in a pit for the rest of my life. 3 times in the scene
- ▶ 18:41 Eric Peters I think it was September of 2008, same month that Lehman went under.
James Aitken – Systemic Risk in a Crisis (Capital Allocators, EP.126)
- ▶ 12:20 Ted Seides One of them that I think, as you take a broad brush, there's a lot of topics we can talk about, but the one that has to be most on people's minds is this notion of, of the system and the potential for the system to be broken in a left-tail…
- ▶ 37:24 James Aitken It is difficult to imagine a Lehman-esque type event.
Greg Fleming – Building and Running Rockefeller Capital Management (Capital Allocators, EP.125)
- ▶ 15:35 Greg Fleming You know, at first it was Bear Stearns that was in trouble, and then Lehman, and all the dialogue around, well, Merrill's the next firm, and how much exposure do they have?
Mike Mauzé - Escape Velocity for CPG Brands at VMG Partners (First Meeting, EP.16)
- ▶ 10:23 Mike Mauze So I came back in 97 right after the handover, and then I was recruited by Lehman Brothers to go join them as they were expanding their consumer effort. 3 times in the scene
James Aitken – Tour Around the World from a Small Island (Capital Allocators, EP.122)
- ▶ 46:11 James Aitken From the G-twenty meeting in Pittsburgh way back in 2009, the whole process of post-crisis regulation has been about ensuring we never have another Lehman. 2 times in the scene
Peter Kraus - Widening the Aperture on Alpha (First Meeting, EP.14)
- ▶ 20:14 Peter Kraus And it was a beautiful blue sky day, and Lehman was very volatile at that time.
Steve Rattner – Overseeing Michael Bloomberg's Family Office (Capital Allocators, EP.113)
- ▶ 4:19 Ted Seides Steve's career has ranged from a journalist for the New York Times, to investment banking at Lehman Brothers, Morgan Stanley, and Lazard Frere, to founding private equity firm Quadrangle Group, and lastly, to serving in the Obama…
- ▶ 8:08 Steve Rattner Lehman Brothers back then, and so it was a trial by fire. 3 times in the scene
- ▶ 18:16 Steve Rattner Been a colleague of David Swenson's at Lehman Brothers. 2 times in the scene
Scott Kupor - Andreessen Horowitz (First Meeting EP.07)
- ▶ 14:10 Scott Kupor September oh eight, literally the weekend Lehman goes bankrupt.
Mark Baumgartner – Luck, Risk and Uncertainty at the Institute for Advanced Study (Capital Allocators, EP.77)
- ▶ 20:45 Mark Baumgartner And Lehman had happened, Bear had happened.
Karl Scheer – Competing Sensibly as CIO of the University of Cincinnati (EP.74)
- ▶ 12:47 Karl Scheer We were just a couple weeks before Lehman went Banco, and we had some initiatives in the portfolio.
Andrew Tsai – Catching a Theme on the Chalkstream (EP.73)
- ▶ 4:18 Ted Seides Andrew's fascinating background started on Lehman's ARB desk in the early 19 nineties, after which he formed a quantitative hedge fund in 1997, built a dot com logistics business in 1999,
- ▶ 9:41 Andrew Tsai Was able to get an offer at Lehman Brothers in their fixed income arbitrage group, and that was the beginning for me in finance.
- ▶ 10:21 Andrew Tsai And my first boss at Lehman was, was kind of one of the, the wave of, of kind of early quants to come in to say, hey, let's use some computing power and let's really study these relationships between cash and swaps and Ted spreads and… 3 times in the scene
- ▶ 13:33 Andrew Tsai And it was nothing about Lehman. 5 times in the scene
- ▶ 47:35 Andrew Tsai And so going back to that Lehman certificate on the back of my wall here, Lehman traded at 17 basis points.
Raphael Arndt – Australia's Sovereign Wealth Fund CIO (Capital Allocators, Episode 70)
- ▶ 53:33 Raphael Arndt And so fortuitously, and through some good decisions made by the people who were here before me, we were sitting with about 80% in cash when layman's went broke.
Josh Wolfe – Seeing the Lux (Capital Allocators, EP.65)
- ▶ 13:27 Josh Wolfe He was at Lehman Brothers in Equity Research.
Manny Friedman – Non-Linear Financial Systems (Capital Allocators, EP.61)
- ▶ 17:47 Manny Friedman Of the government to take that last bit of action because they got nervous when Lehman failed. 3 times in the scene
Andy Redleaf - Evolution of Markets (Capital Allocators, EP.46)
- ▶ 36:29 Andy Redleaf I mean, all of Lehman's employees 2 times in the scene
Clare Flynn Levy and Cameron Hight - Moneyball for Managers (Capital Allocators, EP.43)
- ▶ 42:39 Cameron Hight I, uh, graduated from UNC Chapel Hill, and then I moved up to New York where I was an equity analyst for, uh, CIBC, then DLJ, and then Lehman Brothers.
Jim Dunn – Protect, Perform, Provide (Capital Allocators, EP.24)
- ▶ 12:50 Jim Dunn Jamie Dimon calling me at home wanting his Lehman, his Bear Stearns, one 30 30 seed fund money back.
- ▶ 13:00 Jim Dunn I had to go to file LBIE bankruptcy on the portable alpha swaps in person.
- ▶ 35:01 Jim Dunn But if the three managers are all doing the same trade, so historically, one example would be Lehman trade claims. 2 times in the scene
- ▶ 51:40 Ted Seides One of the things you mentioned, you're talking about the LBIE example.
Jeffrey Solomon – Vision, Tenacity, and Empathy (Capital Allocators, EP.09)
- ▶ 12:09 Jeffrey Solomon If you think about the way the hedge fund business evolved, it evolved from people who were on the prop desks, you know, Goldman Sachs, Lehman Brothers, you know, all these different places in the eighties, and they spun out and started…
Josh Brown – When Witchcraft Failed (Capital Allocators, EP.06)
- ▶ 15:06 Josh Brown In the fall of 2008, all my friends work at Bear and Lehman, and they're done too.
The Bet with Buffett (Capital Allocators, EP.05)
- ▶ 15:46 Ted Seides The hedge funds after Lehman, it was a big difference before and after, but after Lehman had a tough time, but were down, I don't remember the number, maybe it was 24%. 2 times in the scene
- ▶ 48:56 Ted Seides The other thing that happened was, and it really started post Lehman, hedge funds disappointed.