- Category: Books » Business & Economics » General
- Format: Hardcover Learn more about the Hardcover format using Tower WIKI.
- Number of Pages: 320
- ISBN: 0385529910
- WAPI (Tower ID): 113557240
- Release Date: November 3, 2009
- Average Customer Review: There are no customer reviews yet. Be the first to write a review!
- Tower.com Sales Rank: #139 in Books (See Top 100 Books Bestsellers)
- #9 in Business & Economics (See Top 100 Business & Economics Bestsellers)
- #2 in General (See Top 100 General Bestsellers)
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Product DescriptionRun a Quick Search on "The Greatest Trade Ever" by Gregory Zuckerman to Browse Related Products:Browse more products related to "The Greatest Trade Ever"Browse more products related to "Gregory Zuckerman"Publisher's noteIn 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 bet 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. Colleagues at investment banks scoffed at him and investors dismissed him. Even investors skeptical about housing shied away from the complicated derivative investments that Paulson was warming to. But Paulson and a handful of renegade investors such as Jeffrey Greene and Michael Berry 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. AnnotationIn 2006, the middle-aged hedge fund manager John Paulson seemed to be falling behind his young competitors, who were all reaping the benefits of the real estate boom and subprime mortgages. Then, with the aid of his analyst Paolo Pellegrini, Paulson became convinced that the housing market was headed for a crash, and defied conventional wisdom by betting heavily on obscure bearish trades. Few banks or investors would invest in his new fund, and many accused him of rash counter-intuitiveness, but Paulson persevered, and steadily bet "against the house." In 2007 his firm made 15 billion dollars, one of the greatest financial trades of all time. Gregory Zuckerman, who broke the Paulson story, gives a fascinating blow-by-blow account of the tumultuous housing market collapse and one of the few men who found a way to profit from it. If You Enjoy "The Greatest Trade Ever (Hardcover)", May We Also Recommend:Customer Reviews for "The Greatest Trade Ever (Hardcover)" by Gregory Zuckerman (Author)There are no customer reviews yet. Be the first to write a review! General Bestsellers
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