Lawrence G. McDonald | |
|---|---|
 Larry McDonald | |
| Born | Lowell, Massachusetts |
Lawrence 'Larry' G. McDonald is an author and CNBC contributor, currently founder of 'The Bear Traps Report', an investment newsletter focused on Political and Systemic Risk with actionable trade ideas and Macro perspective. Former Head of U.S. Macro Strategy at Societe Generale and former vice-president of distress debt and convertible securities trading at Lehman Brothers.
Lawrence McDonald was born in Lowell, Massachusetts and grew up in the Cape Cod region. He graduated from Falmouth High School. McDonald attended The University of Massachusetts Dartmouth and received a degree in economics in 1989.
Lawrence McDonald was COO/Co-founder of Convertbond.com. Property rights to Convertbond.com were sold to Morgan Stanley.
Lawrence McDonald joined Lehman Brothers in New York City, in 2004 as vice-president of Distressed Debt and Convertible Securities Trading.
Lawrence G. McDonald is currently a keynote speaker, founder of The Bear Traps Report Investment Newsletter and partner at ACG Analytics. He is also a financial consultant, global lecture speaker, and co-author of the book A Colossal Failure of Common Sense .
McDonald is the creator of The Bear Traps Report, [1] an investment newsletter providing weekly market insights, specific investments, and global trends.
McDonald is a frequent writer for Forbes Magazine and a guest contributor on Bloomberg, CNBC, and Fox Business News. He is the author of the new bestselling book, "How to Listen When Markets Speak."
McDonald was a special advisor to the Financial Crisis Inquiry Commission (FCIC), created by Congress in 2009 to investigate the causes, domestic and global, of the economic and financial crisis in the United States.
Lawrence McDonald was a cast participant in major financial crisis documentary Inside Job, [2] an Academy Award Winner for Best Documentary in 2010, directed by Charles H. Ferguson. McDonald was also a cast participant in documentaries: BBC's The Love of Money and CBC's House of Cards.
In an editorial for the Huffington Post , McDonald was critical of former United States Secretary of the Treasury Henry Paulson's decision to save Bear Stearns while allowing Lehman Brothers to fail. [3]
In the book A Colossal Failure of Common Sense, McDonald gives his account of the events surrounding the financial crisis of 2007–2010. The book has been ranked by the CFA Institute, a "Top 20" all time in finance. The book discusses JP Morgan Chase's purchase of Bear Stearns and the bankruptcy of Lehman Brothers. The book was co-written with Patrick Robinson. [4]
As of August 9, 2009, the book was 7th on the New York Times Best Seller list for hardcover nonfiction. [5]
"A CFA Institute Top 20 All-Time – This book is a risk manager's guide to the right and wrong moves on Wall St., and explains why investors must stay ahead of policies coming out of Washington, D.C., and Europe." – CNBC. [6]
A Colossal Failure of Common Sense is translated into 12 different languages.
Following the success of his previous novel, Lawrence published another book in spring of 2024. In How to Listen When Markets Speak [7] Lawrence proposes the world is entering a high inflationary paradigm, using anecdotes from previous conversations with famous investors throughout his career and various economic trends as evidence.
He suggests (some of) the factors driving this change are:
He suggests (some of) the effects will be:
He suggests that readers should (among other things):
He also suggests that its 'too early' to switch to renewables, especially for countries like India, and thus Petroleum will continue to be an essential resource throughout the next decade.
The book was published in audio format on Spotify, read by Larry himself.
A stock market crash is a sudden dramatic decline of stock prices across a major cross-section of a stock market, resulting in a significant loss of paper wealth. Crashes are driven by panic selling and underlying economic factors. They often follow speculation and economic bubbles.
Lehman Brothers Inc. was an American global financial services firm founded in 1850. Before filing for bankruptcy in 2008, Lehman was the fourth-largest investment bank in the United States, with about 25,000 employees worldwide. It was doing business in investment banking, equity, fixed-income and derivatives sales and trading, research, investment management, private equity, and private banking. Lehman was operational for 158 years from its founding in 1850 until 2008.
The Bear Stearns Companies, Inc. was an American investment bank, securities trading, and brokerage firm that failed in 2008 during the 2007–2008 financial crisis and the Great Recession. After its closure it was subsequently sold to JPMorgan Chase. The company's main business areas before its failure were capital markets, investment banking, wealth management, and global clearing services, and it was heavily involved in the subprime mortgage crisis.
James Joseph Cramer is an American television personality, author, entertainer, and former hedge fund manager. He is the host of Mad Money on CNBC, and an anchor on Squawk on the Street. After graduating from Harvard College and Harvard Law School, he worked for Goldman Sachs and then became a hedge fund manager, founder, and senior partner of Cramer Berkowitz. He co-founded TheStreet, which he wrote for from 1996 to 2021. Cramer hosted Kudlow & Cramer from 2002 to 2005. Mad Money with Jim Cramer first aired on CNBC in 2005. Cramer has written several books, including Confessions of a Street Addict (2002), Jim Cramer's Real Money: Sane Investing in an Insane World (2005), Jim Cramer's Mad Money: Watch TV, Get Rich (2006), and Jim Cramer's Get Rich Carefully (2013).
Henry "Hank" Merritt Paulson Jr. is an American investment banker and financier who served as the 74th United States Secretary of the Treasury from 2006 to 2009. Prior to his role in the Department of the Treasury, Paulson was the chairman and chief executive officer (CEO) of major investment bank Goldman Sachs.
Richard Severin Fuld Jr. is an American banker best known as the final chairman and chief executive officer of investment bank Lehman Brothers. Fuld held this position from 1 April 1994 after the firm's spinoff from American Express until 15 September 2008. Lehman Brothers filed for bankruptcy protection under Chapter 11 on September 15, 2008, and subsequently announced the sale of major operations to parties including Barclays Bank and Nomura Securities.
Naked short selling, or naked shorting, is the practice of short-selling a tradable asset of any kind without first borrowing the asset from someone else or ensuring that it can be borrowed. When the seller does not obtain the asset and deliver it to the buyer within the required time frame, the result is known as a "failure to deliver" (FTD). The transaction generally remains open until the asset is acquired and delivered by the seller, or the seller's broker settles the trade on their behalf.
Louis G. Navellier is Chairman and Founder of Navellier & Associates in Reno, Nevada, which manages approximately $1.0 billion in assets. Navellier also writes five investment newsletters focused on growth investing: Growth Investor, Breakthrough Stocks, Accelerated Profits, Power Options and Platinum Growth Club, and can frequently be seen giving his market outlook and analysis on Bloomberg, Fox News, and CNBC.
The subprime mortgage crisis impact timeline lists dates relevant to the creation of a United States housing bubble and the 2005 housing bubble burst and the subprime mortgage crisis which developed during 2007 and 2008. It includes United States enactment of government laws and regulations, as well as public and private actions which affected the housing industry and related banking and investment activity. It also notes details of important incidents in the United States, such as bankruptcies and takeovers, and information and statistics about relevant trends. For more information on reverberations of this crisis throughout the global financial system see 2007–2008 financial crisis.
Seth Andrew Klarman is an American billionaire investor, hedge fund manager, and author. He is a proponent of value investing. He is the chief executive and portfolio manager of the Baupost Group, a Boston-based private investment partnership he founded in 1982.
The bankruptcy of Lehman Brothers, also known as the Crash of '08 and the Lehman Shock on September 15, 2008, was the climax of the subprime mortgage crisis. After the financial services firm was notified of a pending credit downgrade due to its heavy position in subprime mortgages, the Federal Reserve summoned several banks to negotiate financing for its reorganization. These discussions failed, and Lehman filed a Chapter 11 petition that remains the largest bankruptcy filing in U.S. history, involving more than US$600 billion in assets.
The uniform net capital rule is a rule created by the U.S. Securities and Exchange Commission ("SEC") in 1975 to regulate directly the ability of broker-dealers to meet their financial obligations to customers and other creditors. Broker-dealers are companies that trade securities for customers and for their own accounts.
Timothy Franz Geithner is an American former central banker who served as the 75th United States Secretary of the Treasury under President Barack Obama from 2009 to 2013. He was the President of the Federal Reserve Bank of New York from 2003 to 2009, following service in the Clinton administration. Since March 2014, he has served as president and chairman of Warburg Pincus, a private equity firm headquartered in New York City.
The Last Days of Lehman Brothers is a British television film, first broadcast on BBC Two and BBC HD on Wednesday 9 September 2009. Filmed in London, it was written by Craig Warner and directed by Michael Samuels. It was shown as part of the BBC's "Aftershock" season, a selection of programmes marking the first anniversary of the collapse of the American investment bank Lehman Brothers. It featured James Cromwell, Ben Daniels, Corey Johnson, Michael Landes and James Bolam.
A Colossal Failure of Common Sense: The Inside Story of the Collapse of Lehman Brothers is a 2009 non-fiction book written by Lawrence G. McDonald and Patrick Robinson which chronicles the events surrounding the bankruptcy of Lehman Brothers in the context of the financial crisis of 2007–2010 and the subprime mortgage crisis. The work is divided into a prologue, an epilogue, and twelve chapters.
Inside Job is a 2010 American documentary film, directed by Charles Ferguson, about the late-2000s financial crisis. Ferguson, who began researching in 2008, said the film is about "the systemic corruption of the United States by the financial services industry and the consequences of that systemic corruption", amongst them conflicts of interest of academic research, which led to improved disclosure standards by the American Economic Association. In five parts, the film explores how changes in the policy environment and banking practices helped create the financial crisis.
Too Big to Fail is a 2011 American biographical drama television film directed by Curtis Hanson and written by Peter Gould, based on Andrew Ross Sorkin's 2009 non-fiction book Too Big to Fail. The film aired on HBO on May 23, 2011. It received 11 nominations at the 63rd Primetime Emmy Awards; Paul Giamatti's portrayal of Ben Bernanke earned him the Screen Actors Guild Award for Outstanding Performance by a Male Actor in a Miniseries or Television Movie at the 18th Screen Actors Guild Awards.
The 2007–2008 financial crisis, or the global financial crisis (GFC), was the most severe worldwide economic crisis since the Great Depression. Predatory lending in the form of subprime mortgages targeting low-income homebuyers, excessive risk-taking by global financial institutions, a continuous buildup of toxic assets within banks, and the bursting of the United States housing bubble culminated in a "perfect storm", which led to the Great Recession.
Agora Financial is a privately held publishing company, based in Baltimore, Maryland, that produces print and email publications, books, and conferences directed toward providing financial advice, commentary, and marketing predictions. They participate in several spam campaigns under several names such as Event Horizon LLC, Paradigm Publishing and several other suedo company names
Mark J. Hulbert is an American finance analyst, journalist, and author with a focus on expectations of stock market investment newsletters, contrarian investing, and quantitive or technical analysis.
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