The Greatest Trade Ever: How John Paulson Bet Against the Markets and Made $20 Billion

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9780670918355: The Greatest Trade Ever: How John Paulson Bet Against the Markets and Made $20 Billion

Back in 2006, hunched over spreadsheets, hedge fund titan John Paulson realised that the housing market was vastly overstretched. Fuelled by sub-prime mortgages, it was a classic bubble ready to burst. He had waited his whole life for this perfect trade.

Paulson, who had never dealt in real-estate before, struggled to convince bullish Wall Street investors about the coming crash. But as house prices began to falter and the financial system collapsed, he reaped the rewards. He made a now-legendary series of trades, executed with technical skill and perfect timing.

The results were spectacular. In a single morning in late 2007 Paulson made $1.25bn from a five-point fall in the markets. Across the year he earned $15 billion for his fund, including $4 billion for himself - more than the incomes of J.K Rowling, Oprah Winfrey and Tiger Woods put together. It was the largest trading windfall in history by far, securing his place in the history books alongside Warren Buffet and George Soros.

Written with the exclusive co-operation of the highly secretive Paulson, The Greatest Trade Ever tells the full story of his trade for the first time. Like Barbarians at the Gate 20 years ago, it also tells a wider story of staggering wealth accumulation, hubris and financial whizzery. It is essential reading for anyone seeking to understand the inner workings of the markets - and trying to spot the next bubble.

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Recensione:

Simply terrific. Easily the best of the post-crash financial books. Rarely in human history has someone made so much money in so short a time. ( Malcolm Gladwell )

Greg Zuckerman was the first to tell the world about John Paulson's sensational trade... He's written the definitive account of a strange and wonderful subplot of the financial crisis. ( Michael Lewis, author of Liar's Poker )

Zuckerman takes us to Wall Street's heart of darkness, where mushroomed a $1 trillion subprime mortgage market that only the few, the brave, the smart dared short. This is at once a great page-turner and a great illuminator of the market's crash. ( John Heylar, co-author of Barbarians at the Gate )

Much, much more than a brilliant account of Paulson's trade of the century; this book also provides a highly enjoyable and lucid journey through the analytical and emotional maze that constituted the financial markets on the eve of the Great Recession. Compulsory reading. ( Mohamed El-Erian, CEO of Pacific Investment Management Co and author of When Markets Collide )

A magnificent insider look at how Paulson and others profited off of subprime's demise... insightful and gripping. ( Marketfolly.com )

More than a cinematic narrative of how Paulson and others figured out how to short the market. We're also reminded of how opaque and illiquid some financial instruments are, how little Wall Street executives understood them, and how difficult it was for more knowledgeable bankers to say that the subprime emperor had no clothes. ( Bloomberg )

L'autore:

Gregory Zuckerman is a senior writer at the Wall Street Journal where he pens the 'Heard on the Street' column. He appears on CNBC-TV twice a week to explain complex trades. His team has won the New York Press Club Journalism Award and the Gerald Loeb Award for their coverage of the credit crisis.

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Gregory Zuckerman
Editore: Viking (2010)
ISBN 10: 0670918350 ISBN 13: 9780670918355
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Descrizione libro Viking, 2010. Hardcover. Condizione libro: Very Good. Very Good: a copy that has been read, but is in excellent condition. Pages are intact and not marred by notes or highlighting. The spine remains undamaged. Most items will be dispatched the same or the next working day. Codice libro della libreria mon0006532126

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Descrizione libro Hardback. Condizione libro: Very Good. The book has been read, but is in excellent condition. Pages are intact and not marred by notes or highlighting. The spine remains undamaged. Codice libro della libreria GOR002848763

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Descrizione libro Hardback. Condizione libro: Good. The book has been read but remains in clean condition. All pages are intact and the cover is intact. Some minor wear to the spine. Codice libro della libreria GOR003437111

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Descrizione libro Viking. Hardcover. Condizione libro: Fair. Codice libro della libreria TT01346752B

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Descrizione libro Viking. Hardcover. Condizione libro: Very Good. Very good condition - book only shows a small amount of wear. Codice libro della libreria G0670918350I4N00

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Descrizione libro Viking. Hardcover. Condizione libro: Fine. 0670918350 EXCELLENT CONDITION - The binding and pages are tight and clean. There is an inscription on the title page, otherwise the book is like new!. Codice libro della libreria 08.U19

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