Howard (Howie) Rubin began his career in mortgaged-backed securities at Salomon Brothers in 1982 working for legendary traders Lewis Ranieri and Michael Mortara.
While there in 1984, Howie priced the first Collateralized Mortgage Obligation (CMO) with Fannie Mae.
In 1987, Howie joined the Mortgage Department at Bear Stearns becoming a Senior Managing Director and head of the CMO Trading Desk. When he retired in 1999, he left a Mortgage Department that was one of the most respected on Wall Street and a CMO Desk that was consistently ranked number one.
During the financial crisis in the summer of 2008, Howie returned to work to run a distressed Mortgage-Backed Securities Fund for Soros Fund Management, LLC. Averaging over 20% returns over an eight year time period. Howie retired (again) at the end of 2015.
Several of the people who worked for Howie over the years became heads of Mortgage and Fixed-Income Departments at UBS, Goldman Sachs, BOA/Merrill Lynch, GMAC, and RBS. He is featured in Michael Lewis’s book Liar’s Poker and The Big Short and Scott Skyrm’s book Rouge Traders.
Howie received an MBA in 1982 from Harvard Business School and a BS Magna cum Laude in Chemical Engineering from Lafayette College in 1977. When he was applying for jobs on Wall Street, however, his potential employers were far more interested in his two years counting cards in blackjack in Las Vegas than in his academic credentials. In his free time, Howie now prefers playing Texas Hold ‘em Poker as well as swimming, yoga, Soul Cycle, Cross-Fit and driving his “fast and furious” 550 hp 1968 RS/SS Camaro.