'Big Short' trader Greg Lippmann discusses his career, his iconic bet against the housing bubble, and his Fed outlook in a new interview. Here are the 8 best quotes.

Bloomberg TV

"The Big Short" trader Greg Lippmann talked about his bet against the housing bubble on the "Capital Allocators" show.

Lippmann is the founder and investment chief of a $8 billion asset manager. He said that he became a trader because of his decision to bet against mortgage bonds at the same time as Michael Burry.

Here are Lippmann's 8 best quotes, lightly edited for length and clarity:

This is the first thing. people are the same My parents found me when they were cleaning out my room.

The report card is a second grade one. I was about to get my review from my employer. You put my 25-year-old employment review next to my second grade report card and the strengths and weaknesses are the same.

There are two The trading floor was on the third floor while I was on the 18th floor. I would just sit at their desk if they were sick or traveling for work. I wouldn't speak to anyone if I did my job.

If a job ever came up, I thought I would be top of mind because people would see me and I would hear them talk. ippmann was talking about how he became a trader in the 1990's.

There are three. After six years, the default rate was still 6 or 7 percent in the top tier of US zip codes for home price appreciation. People are defaulting even though their house has increased in value.

It was shocking to me that you have an asset that is in the money and still default. ippmann was describing housing research he did for a bank.

There are four. The bonds are covered and 18% of the loans are not. Almost 30% of people in the bottom quarter of America are defaulters. After I got over the shock, I looked at this and thought that the bonds would default. ippmann was reflecting on his revelation that mortgage bonds were extremely risky.

There are five. I think the odds are 3-to-1 against me, because you're being paid between 6- and 10-to-1 to bet against them. If you spend your whole life looking for things that are 3-to-1 long shots, two out of every three times you walk away empty-handed, it's really full. That was what made me want to do it. Lippman was talking about his signature bet.

There are six. The Fed is moving away from being in charge of financial markets to being in charge of inflation. The federal government is going to focus more on helping regular people through a variety of programs, which they have already done.

There are seven. We are entering into a more volatile time in the economy. Instead of being a force for low volatility, the Fed is going to be a source of high volatility. Are they going to ease next year or not? They said they wouldn't tighten in 2022. According to Lippmann, American companies appear as levered or fragile as ever.

There are eight. Ryan Gosling is more appealing to play you in a movie than anyone else. It's hard to complain about a man playing you in a film.

The 'Big Short' investor is special, according to an expert. He revisits Burry's bet against the housing bubble as well as his other bets.