Jared Dillian (From Lehman Brothers to 2021 – how did the financial industry change?)

• 00:00:23 How did Jared's path from Lehman Brothers to Internet personality develop?
• 00:05:06 How did the finance industry develop during the last 20 years?
• 00:08:18 Jared's experience on writing a novel (and how it compares to his other book)?
• 00:11:29 What is Jared's view of the deflation/ inflation debate?
• 00:17:03 Is productivity growth really as low as we assume? What role do stock buybacks play?
• 00:22:01 Is individual risk taking the key to increase productivity growth?
• 00:25:01 What are great areas of investment according to Jared?
• 00:30:01 Will DeFi eradicate banks and most of the financial industry?
• 00:34:01 Is the banking industry a good indicator for the health and competitiveness of an economy?
• 00:38:36 How consistent should financial commentators be?

Jared Dillian is the author of Street Freak: Money and Madness at Lehman Brothers, named one of the top business books of 2011 by Businessweek magazine.

Jared runs The Daily Dirtnap, LLC, which provides daily market commentary and insight to a range of institutional clients.

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Torsten Jacobi : Jared, thanks a lot for coming unto the Judgment Call Podcast, I really appreciate that.

Jared Dillian: Yeah.

Torsten Jacobi : Hey, thanks for taking the time.

And you know, you have a really interesting history, and it's something that's becoming a bit of a theme though, is you started in an investment bank, and you worked for Lehman Brothers, then you wrote a book, you became an author, and now you're an internet personality, you run your own internet business, your own content business. Maybe you can tell us a little bit more about this transition, how this came upon, and how do you feel, was it the right choice looking back, or do you feel like, well, no, I want to go back to an investment bank?

Jared Dillian : No, it was absolutely the right choice.

It was funny because I was talking to my old boss at Lehman, this is the guy that I worked for 2001, 2002, and he told me a story of, you know, when I worked for him, we used to get the Garmin letter.

I don't know if you know Dennis Garmin, but we used to get the Garmin letter at Lehman Brothers, and he had probably the biggest financial newsletter. It was a daily letter, and I used to get this stuff, and you know, I liked it. I didn't, you know, I didn't think his writing was the best, but I said, this is an amazing business. I was like, you can just get paid to w