Ben Hocket Net Worth

Having a Ben Hocket Net Worth can mean a lot of things. First, it can mean making a lot of money. Or it can mean being able to get out of Wall Street to trade derivatives.

Investing in credit default swaps

During the subprime mortgage crisis of 2007-2008, former Deutsche Bank trader Ben Hockett made a lot of money investing in credit default swaps. He was part of an investment management firm called Cornwall Capital.

The company started with $110,000 in the bank and grew to $135 million by the time the market crashed. Cornwall’s long shot paid off. By the end of the year, Cornwall’s swaps for $1 million sold for $80 million. The company had made an 80:1 return on its bet.

The credit default swaps Burry sold to investors were based on the assumption that subprime mortgages were full of MBSs (mortgage-backed securities). When Burry realized that the United States housing market was backed by subprime loans, he decided to short the market. He convinced Goldman Sachs and other investment banks to sell him credit default swaps.

Ben Hockett made his money trading credit default swaps from his home in the Berkeley Hills. In February 2007, he owned $205 million worth of credit default swaps against double-A CDO tranches.

Leaving Wall Street to trade derivatives

During the 2007 to 2008 subprime mortgage crisis, Ben Hockett made a good amount of money in the derivatives arena. He traded credit default swaps against double A CDO tranches. By the close of business, the swaps were worth $80 million.

Ben Hockett is a former Deutsche Bank trader who traded derivatives from his home in Berkeley Hills, California. He has a net worth of at least $100 million. He left Wall Street in 2006 to work for an investment firm called Cornwall Capital. During the ensuing financial crisis, Cornwall Capital went bankrupt, but Ben Hockett was able to profit from their losses.

Cornwall Capital started out in Charlie Ledley’s backyard shed in Berkeley, California. Ledley and Mai were not career Wall Street types. They were “garage band hedge fund” types. They were able to start out with $110,000 in a Schwab account. Using this amount, they were able to multiply it by 2,000 to become $205 million richer.

Making a fortune in the Powder Monkey

During a holiday in Devon in 2007, Wall Street guru Ben Hockett made a fortune in a pub. While it’s unlikely that he spent four nights in the same boozer, the venue he stayed in was the aforementioned Powder Monkey.

It’s no surprise that the aforementioned boozer popped up in the big screen for a good portion of The Big Short. The movie features a cast of characters who have the means to make big trades on their own – and not necessarily on the open market. While the group is hardly out of the woods, they are not the first to make a sizable profit – the aforementioned pub has been known to pull the wool over the eyes of Wall Street brass.

As for Ben Hockett’s big break, his company, Cornwall Capital, opted to gamble its chips on a slew of subprime mortgage securities. While the odds of their catching fire were long, they were willing to take the risk. They turned a modest initial investment into a sizable profit in four afternoons.

Being based on Rickert Rickert

Several years ago, a former Deutsche Bank trader named Ben Hockett decided to make a buck by betting against the housing market. As a part of an investment company called Cornwall Capital, he profited greatly from the subprime mortgage crisis of 2007 and 2008. He stayed in California with his family and traded derivatives from his home in Berkeley Hills. He eventually sold the house after realizing it was overpriced. He then joined Cornwall Capital, where he was instrumental in transforming the firm into a major player on Wall Street.

The Big Short is based on the best-selling book of the same name by Michael Lewis. The film stars Brad Pitt, Christian Bale, Ryan Gosling, Steve Carell, and Charlie Geller. The movie is also based on a real-life hedge fund manager named Steve Eisman. During the film, the characters struggle to obtain ISDA agreement, which allows them to trade derivatives. This is an important part of the movie’s storyline.