Who is Mark Baum from The Big Short?

The Big Short, directed by Adam McKay, has a star-studded line-up including Christian Bale, Steve Carrell, Ryan Gosling and Brad Pitt. It is based on the non-fiction book written in 2010 by Michael Lewis, which describes the real estate market of the 2000s, in particular the financial crisis of 2007-2008.

The film was released by Paramount Pictures in December 2015 to critical success, grossing $133 million and winning the Academy Award for Best Adapted Screenplay.

The character of Mark Baum is an investor and businessman who shorted CDOs (collateralised debt obligations) and was played by Steve Carrell. He was credited with predicting the financial crisis, contrary to what many of those around him believed.

Is Mark Baum based on a real person?

Mark Baum is based on a real person who asked his name to be changed for the film, Steve Eisman. While at FrontPoint Partners LLC, which was a trust fund of Morgan Stanley, Eisman managed more than $1 billion. Based in Greenwich, Connecticut, FrontPoint Partners bet against subprime mortgages during the 2007-2008 financial crisis.

What is Steve Eisman’s background?

Eisman grew up in New York city before attending the University of Pennsylvania, where he was awarded a BA. He then went to Harvard Law School.

Earlier in his career, he was a managing director and senior financial services analyst at Chilton Investment Co. He then moved onto Oppenheimer & Co., where he was also a financial services analyst within the Investment Bank, Asset Management and Specialty Finance divisions.

What has Steve Eisman done since The Big Short?

Eisman left FrontPoint Partners in 2011 and founded Emrys Partners in 2012, with $23 million in seed capital. The fund did not perform very well however, and in 2014 he shut it down.

He then joined Neuberger Berman as a managing director and senior portfolio manager for the Eisman Group within the Private Asset Management division.

How accurate is Steve Carrell’s portrayal of Steve Eisman in The Big Short?

Although Steve Carrell’s character is Mark Baum, how close to Steve Eisman is he in this portrayal?

One aspect of his personalty shown in the film is his tendency to be rude. Eisman’s wife, Valerie Feigen (Cynthia in The Big Short, played by Marisa Tomei) had this to say about her husband:

“Even on Wall Street people think he’s rude and obnoxious and aggressive.”

In The Big Short the following exchange takes place:

Mark Baum (on the phone): OK, I want you to walk back in there and very calmly, very politely tell the risk-assessors to f**k off!

Vinny Daniel (walking into the room): Gentlemen, I just spoke with Mark Baum and he says to ‘f**k off’.

Here are some frequently asked questions (FAQ) about Mark Baum:

General Questions

Who is Mark Baum?

Mark Baum is a fictionalized character in the 2015 film The Big Short, played by Steve Carell. He is based on Steve Eisman, a real-life hedge fund manager who profited from the 2008 financial crisis by betting against (shorting) subprime mortgage-backed securities.

Is Mark Baum a real person?

No, Mark Baum is not a real person. He is a character inspired by Steve Eisman, a former money manager at FrontPoint Partners.

What does Mark Baum do in The Big Short?

In the film, Mark Baum leads a small hedge fund team under Morgan Stanley and is initially skeptical of the mortgage market. However, after investigating, he realizes the financial system is built on unstable subprime loans and decides to short the housing market, which leads to significant profits during the 2008 crash.

How accurate is Mark Baum’s portrayal in The Big Short?

While The Big Short takes some creative liberties, Mark Baum’s character closely follows Steve Eisman’s real-life actions and outspoken criticism of Wall Street’s unethical practices.

Career and Finance

What was Mark Baum’s (Steve Eisman’s) role in the 2008 financial crisis?

Steve Eisman (the real-life inspiration for Mark Baum) was one of the early skeptics of the subprime mortgage industry. He and his team at FrontPoint Partners researched and discovered that many mortgage-backed securities were built on high-risk loans likely to default. This led them to bet against these securities, resulting in substantial profits when the housing market collapsed.

What happened to Mark Baum after the financial crisis?

Since Mark Baum is a fictional character, there is no direct post-crisis story. However, Steve Eisman continued his investment career. After leaving FrontPoint, he worked at Neuberger Berman before starting his own fund, Emrys Partners. He later joined Neuberger Berman again as a portfolio manager.

Did Mark Baum (Steve Eisman) regret shorting the market?

In the movie, Mark Baum struggles with the moral implications of profiting from a crisis that devastated millions of lives. In real life, Steve Eisman has expressed frustration over the lack of accountability for those responsible for the financial collapse.

Did Mark Baum predict the 2008 crash?

Yes, Mark Baum (Steve Eisman) and his team were among the few investors who correctly predicted that the housing market was a bubble and acted accordingly by shorting mortgage-backed securities.

Personal Life and Beliefs

Was Mark Baum as outspoken as Steve Eisman?

Yes, both Mark Baum and his real-life counterpart, Steve Eisman, were known for their blunt and critical opinions on Wall Street’s corruption and greed.

Is Steve Eisman still in finance?

Yes, Steve Eisman continues to work in finance as a portfolio manager at Neuberger Berman.

Did Mark Baum actually confront Wall Street executives like in the movie?

While some of the confrontations in The Big Short were dramatized, Steve Eisman was vocal about his criticisms of Wall Street and often spoke publicly about the issues leading up to the financial collapse.

Read Also: Jared Vennett from The Big Short