Pratique du Shadowing: Margin Call - "Sell it all. Today." 👆🤘👆 - Apprendre l'anglais à l'oral avec la vidéo
Création de la leçon...
1
Please sit down.
2
Welcome, everyone.
3
I must apologize for dragging you all here such an uncommon hour, but from what I've been told, this matter needs to be dealt with urgently.
4
So urgently, in fact, probably should have been addressed weeks ago.
5
But that is spilt milk under the bridge.
6
So, why doesn't somebody tell me what they think is going on here?
7
Mr. Tull, as I mentioned earlier, if you compare the figure at the top of page 13...
8
Jared, it's a little early for all that.
9
Just speak to me in plain English.
10
Okay.
11
In fact, I'd like to speak to the guy who put this together.
12
Mr. Sullivan, is it?
13
Does he speak English?
14
Sir?
15
I'd like to speak with the analyst who seems to stumble across this mess.
16
Certainly.
17
That would be Peter Sullivan, right here.
18
Oh, Mr. Sullivan, you're here.
19
Good morning.
20
Maybe you could tell me what you think is going on here.
21
And please, speak as you might to a young child or a golden retriever.
22
It wasn't brains that got me here.
23
I can show you of that.
24
Well, um...
25
Sir, as you may or may not know, I work here for Mr. Rogers as an associate in the Risk Assessment and Management Office at MBS.
26
Please, just relax, stand up, tell us the care boys what is the nature of the problem.
27
Okay, uh...
28
Well, as you probably know, over the last 36 to 40 months,
29
the firm has begun packaging new MBS products that combine several different tranches of rating classification in one tradable security.
30
This has been enormously profitable, as I imagine you noticed.
31
I have.
32
Well, the firm is currently doing a considerable amount of this business every day.
33
Now, the problem, which is, I guess, why we are here tonight, is that it takes us,
34
the firm, about a month to layer these products correctly, thereby posing a challenge from a risk management standpoint.
35
I'm sorry, that challenge is?
36
Well, we have to hold these assets on our books longer than we might ideally like to.
37
Yes.
38
But the key factor here is these are essentially just mortgages, so that has allowed us to push the leverage considerably beyond what you might be willing
39
or allowed to do in any other circumstance, thereby pushing the risk profile without raising any red flags.
40
Now, thank you, Mr. Lennon.
41
Sit down.
42
What I'm guessing your report here says, and give me some rope here, what I'm guessing it says is that considering the,
43
shall we say, bumpy road we've been on the last week or so, that the figures your brilliant co -workers up the line ahead of you have come up with
44
don't make much sense anymore considering what's taking place today.
45
Actually, not what's taking place today, but what's already taken place over the last two weeks.
46
So you are saying this has already happened?
47
Sort of.
48
Sort of.
49
And, Mr. Sullivan, what does your model say that that means for us here?
50
Well, that's where it becomes a projection. But...
51
You're speaking with me, Mr. Sullivan.
52
Well, sir, if those assets decrease by just 25 % and remain on our books,
53
that loss would be greater than the current market capitalization of this entire company.
54
So, what you're telling me is that the music is about to stop,
55
and we're going to be left holding the biggest bag of odorous excrement ever assembled in the history of capitalism.
56
Sir, I'm not sure that I would put it that way, but let me clarify, using your analogy,
57
what this model shows is the music, so to speak, just slowing.
58
If the music were to stop, as you put it, then this model wouldn't be even close to that scenario.
59
It would be considerably worse.
60
Let me tell you something, Mr. Sullivan.
61
Do you care to know why I'm in this chair with you all?
62
I mean, why I earn the big bucks?
63
Yes.
64
I'm here for one reason and one reason alone.
65
I'm here to guess what the music might do a week, a month, a year from now.
66
That's it.
67
Nothing more. And standing here tonight...
68
I'm afraid that I don't hear a thing.
69
Just...
70
silence.
71
So, now that we know the music has stopped, what can we do about it?
72
Mr. Cohen, Ms. Robertson, I'm afraid I think this is where you're supposed to step back in.
73
Lord knows we've relied enough on Mr. Sullivan tonight.
74
What do you have for us?
75
What have I told you since the first day you stepped into my office?
76
There are three ways to make a living in this business.
77
Be first, be smarter, or cheat.
78
Now, I don't cheat.
79
And although I like to think we have some pretty smart people in this building, It sure is a hell of a lot easier to just be first.
80
Sell it all today.
81
Is that even possible, Sam?
82
Yes, but at what cost?
83
I'll have to pay.
84
Really?
85
I think so.
86
Where is this gonna come back to us?
87
Everywhere.
88
Sam, I don't think you seem to understand what your boy here has just said.
89
If I made you, how would you do this?
90
Well, you call the traders in for the normal 6 .30 meeting, and you be honest with them, because they're gonna know it's the end either way.
91
So you're gonna have to throw them a bone and a pretty big one.
92
and then you've got to come out of the gate storming.
93
No swaps, no nothing.
94
40 % done by 10 .15.
95
By 11 o 'clock, all your trades have to be gone because by lunchtime, word's going to be out and by 2 o 'clock, you're going to be selling at 65 cents on the dollar if you're lucky.
96
And then the Feds are going to be in here up your ass trying to slow you down.
97
Ramesh.
98
They can slow you down.
99
They can't stop you.
100
It's yours to sell.
101
But, John, even if we manage to pull that off, and that's saying something, the real question is,
102
who are we selling this to?
103
The same people we've been selling it to for the last two years, and whoever else will buy it.
104
But, John, if you do this, you will kill the market for years.
105
It's over.
106
And you're selling something that you know has no value.
107
We are selling to willing buyers at the current fair market price so that we may survive.
108
You will never sell anything to any of those people ever again.
109
I understand. Do you? Do you?
110
This is it.
111
I'm telling you, this is it.
112
Now it's four o 'clock.
113
Jared, you got till five to break this down and draw me up a plan.
114
Is there anybody else who knows what's in here at the moment, block by block?
115
Eric Dale. And where is he?
116
As of today, he's no longer with the firm.
117
We have been trying to locate him.
118
Carmelo.
119
Yes.
120
Get me Eric Dale here by six, then.
121
It's done.
122
We meet back here in an hour.
123
Sam, let's talk.
✨ Vidéo recommandée
C12
121 phrases
BEST of MARGIN CALL #4 - Senior Partners Emergency Meeting
Business EnglishUniversity StudentsWorking Adults
C14
203 phrases
It Only Takes 1 Good Trade...
Business EnglishUniversity StudentsWorking Adults
C11
18 phrases
Trading Psychology - Dr David Paul | Euphoria | 1-2% Risk | The 8-13 Trades Rule | Perfect Execution
Business EnglishUniversity StudentsWorking Adults
C12
111 phrases
YOU Are The Liquidity Smart Money Uses (Liquidity Trading Explained)
Business EnglishUniversity StudentsWorking Adults
C1480 phrases
Everything Valuable from an MBA in 25 minutes
Business EnglishUniversity StudentsWorking Adults
C11
159 phrases
Untangling Signals of Market Stress
Business EnglishUniversity StudentsWorking Adults
C13
28 phrases
0925.2 financial statements and ratios
Business EnglishUniversity StudentsWorking Adults
C13
246 phrases
$15 Trillion Money-Making Machine | How BlackRock Became Too Powerful to Ignore
Business EnglishDaily ConversationUniversity Students
B21
156 phrases
The scammer who got away
Business EnglishUniversity StudentsWorking Adults
B21
145 phrases
A $10,000,000 Hero Call
Business EnglishDaily ConversationUniversity Students
C12
198 phrases
To Save the Economy... We’re About to Break It
Business EnglishDaily ConversationUniversity Students
C12
118 phrases
The Anatomy of Fraud
Business EnglishUniversity StudentsWorking Adults
Vocabulaire et conseils d’expression pour cette leçon
Cette vidéo contient 123 phrases et 1184 mots à répéter en shadowing. La partie parlée dure 9:19. Le locuteur parle à un rythme régulier d’environ 127 mots par minute, confortable pour le shadowing. 86 % des mots font partie des 3 000 mots les plus courants en anglais ; le reste mérite d’être vu avant de commencer.
Vocabulaire clé de cette vidéo
15 mots moins courants de la vidéo, avec leur prononciation et leur sens :
- clock /klɑk/ (nom) — indicateur de vitesse, compteur de vitesse. A chronometer, an instrument that measures time, particularly the time of day.
- asset /ˈæsɛt/ (nom) — actif. A thing or quality that has value, especially one that generates cash flows.
- cheat /ˈt͡ʃiːt/ (verbe) — tricher. To violate rules in order to gain, or attempt to gain, advantage from a situation.
- thereby /ðɛɹˈbaɪ/ (adverbe) — ainsi, de ce fait. By it; by that; by that means, or as a consequence of that.
- considerably /kənˈsɪdəɹəbli/ (adverbe) — considérablement, largement. Significantly; to a degree worth considering.
- earn /ɝn/ (verbe) — gagner. To gain (success, reward, recognition) through applied effort or work.
- bone /boʊn/ (nom) — os. A composite material consisting largely of calcium phosphate and collagen and making up the skeleton of most vertebrates.
- gate /ˈɡeɪ̯t/ (nom) — portail, porte. A doorlike structure outside a house.
- package /ˈpæk.ɪd͡ʒ/ (nom) — paquet, paquetage. Something which is packed, a parcel, a box, an envelope.
- silence /ˈsaɪ̯ləns/ (nom) — silence. The absence of any sound.
- compare /kəmˈpɛɚ/ (verbe) — comparer. To assess the similarities and differences between two or more things [“to compare X with Y”]. Having made the comparison of X with Y, one might have found it…
- plain /pleɪn/ (nom) — plaine. An expanse of land with relatively low relief and few trees, especially a grassy expanse.
- worker /ˈwɝ.kɚ/ (nom) — travailleur, travailleuse. One who works: a person who performs labor for a living; traditionally, especially, manual labor.
- essentially /ɪˈsɛnʃəli/ (adverbe) — essentiellement, en essence. In essence: by nature.
- whoever /huˈɛvɚ/ — quiconque, qui que ce soit qui. Who ever: an emphatic form of who.
Les verbes à particule que vous entendrez
- go on /ˈɡoʊˌɒn/ (verbe) — continuer. To continue in extent.
- sit down (verbe) — s'asseoir. To assume a sitting position from a standing position.
- come up with (verbe) — inventer, imaginer. To manage to produce, deliver, or present (something) by inventing, creating, thinking of, or obtaining it.
- do in (verbe) — tuer, zigouiller. To kill or end; to defeat.
- stand up (verbe) — se lever, se mettre debout. To rise from a lying or sitting position.
Prononciation à surveiller
Le locuteur utilise 39 contractions et formes réduites, comme I'm, you're, don't. Prononcez-les sous leur forme courte, telles que vous les entendez.
- Les sons « sh » et « zh »: essentially /ɪˈsɛnʃəli/, associate /əˈsoʊʃi.ət/, classification /ˌklæsɪfɪˈkeɪʃən/, projection /pɹəˈd͡ʒɛkʃən/, capitalization /ˌkæpɪtəlaɪˈzeɪʃən/
- Mots longs — placez bien l’accent: considerably /kənˈsɪdəɹəbli/, essentially /ɪˈsɛnʃəli/, associate /əˈsoʊʃi.ət/, considerable /kənˈsɪdəɹəbl̩/, classification /ˌklæsɪfɪˈkeɪʃən/
Comment s’entraîner avec cette vidéo
- Écoutez la vidéo en entier une fois sans parler et notez les mots que vous ne connaissez pas.
- Répétez phrase par phrase à vitesse normale, en reprenant chacune jusqu’à ce que votre rythme corresponde à celui du locuteur.
- Enregistrez-vous et comparez avec l’original, en faisant attention à des mots comme clock, asset, cheat.
La grammaire de cette vidéo
Les structures que le locuteur utilise le plus, avec les mots exacts de la vidéo :
| Structure | Dans la vidéo |
|---|---|
| Present perfect continu have/has been + -ing — une action commencée avant et toujours en cours | we've been selling · have been trying |
| Phrases conditionnelles if + proposition, will/would + verbe — une condition et son résultat | If I made you, how would you · if you do this, you will kill |
| Present perfect have/has + participe passé — une action passée qui compte encore maintenant | I've been told · has begun · has been |
| Voix passive be + participe passé — l’accent est mis sur ce qui arrive, pas sur qui le fait | I've been told · have been addressed · be left |
Qu'est-ce que la technique du Shadowing ?
Le Shadowing est une technique d'apprentissage des langues fondée sur la science, développée à l'origine pour la formation des interprètes professionnels. Le principe est simple mais puissant : vous écoutez de l'anglais natif et le répétez immédiatement à voix haute — comme une ombre suivant le locuteur avec un décalage de 1 à 2 secondes. Les recherches montrent une amélioration significative de la précision de la prononciation, de l'intonation, du rythme, des liaisons, de la compréhension orale et de la fluidité.