The Greatest Trade Ever: The Behind-the-Scenes Story of How John Paulson Defied Wall Street and Made Financial History
Crown Business, 2010 - 307 עמודים
In 2006, hedge fund manager John Paulson realized something few others suspected--that the housing market and the value of subprime mortgages were grossly inflated and headed for a major fall. Paulson's background was in mergers and acquisitions, however, and he knew little about real estate or how to wager against housing. He had spent a career as an also-ran on Wall Street. But Paulson was convinced this was his chance to make his mark. He just wasn't sure how to do it. Colleagues at investment banks scoffed at him and investors dismissed him. Even pros skeptical about housing shied away from the complicated derivative investments that Paulson was just learning about. But Paulson and a handful of renegade investors such as Jeffrey Greene and Michael Burry began to bet heavily against risky mortgages and precarious financial companies. Timing is everything, though. Initially, Paulson and the others lost tens of millions of dollars as real estate and stocks continued to soar. Rather than back down, however, Paulson redoubled his bets, putting his hedge fund and his reputation on the line.
In the summer of 2007, the markets began to implode, bringing Paulson early profits, but also sparking efforts to rescue real estate and derail him. By year's end, though, John Paulson had pulled off the greatest trade in financial history, earning more than $15 billion for his firm--a figure that dwarfed George Soros's billion-dollar currency trade in 1992. Paulson made billions more in 2008 by transforming his gutsy move. Some of the underdog investors who attempted the daring trade also reaped fortunes. But others who got the timing wrong met devastating failure, discovering that being early and right wasn't nearly enough.
Written by the prizewinning reporter who broke the story inThe Wall Street Journal,The Greatest Trade Everis a superbly written, fast-paced, behind-the-scenes narrative of how a contrarian foresaw an escalating financial crisis--that outwitted Chuck Prince, Stanley O'Neal, Richard Fuld, and Wall Street's titans--to make financial history.
From the Hardcover edition.
מה אומרים אנשים - כתוב ביקורת
Review: The Greatest Trade Ever: The Behind-the-Scenes Story of How John Paulson Defied Wall Street and Made Financial Historyביקורת משתמש - Charles Barr - Goodreads
Pretty darn good. I especially liked the side-story on Jeff Greene. Renting out ~17 Somerville apartments while still in business school is a worthy goal (assuming there's an adequate margin of safety ... קרא סקירה מלאה
Review: The Greatest Trade Ever: The Behind-the-Scenes Story of How John Paulson Defied Wall Street and Made Financial Historyביקורת משתמש - Goodreads
Pretty interesting. Tells story about the guy who made $20 billion by betting against the housing market. The book is good cos the author has obviously spent a lot of time interviewing the protagonist ... קרא סקירה מלאה
מהדורות אחרות - הצג הכל
The Greatest Trade Ever: The Behind-the-scenes Story of how John Paulson ...
<span dir=ltr>Gregory Zuckerman</span>
אין תצוגה מקדימה זמינה - 2009