The Greatest Trade Ever Zuckerman Gregory
The Greatest Trade Ever Zuckerman Gregory In 2006, hedge fund manager John Paulson realized something few others suspected--that the housing market and the value of subprime mortgages were grossly…
Specifikacia The Greatest Trade Ever Zuckerman Gregory
The Greatest Trade Ever Zuckerman Gregory
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. He had spent a career as an also-ran on Wall Street. Paulson's background was in mergers and acquisitions, however, and he knew little about real estate or how to wager against housing.
He just wasn't sure how to do it. But Paulson was convinced this was his chance to make his mark. 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
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