The Greatest Trade Ever: The Behind-the-Scenes Story of How John Paulson Defied Wall Street and Made Financial History
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- ISBN13: 9780385529914
- Condition: NEW
- Notes: Brand New from Publisher. No Remainder Mark.
Product Description
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, but, and he knew small 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 intricate derivative funds that Paulson was just learning about. But Paulson and a handful of renegade investors such as Jeffrey Greene and Michael Burry started 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 nonstop to soar. Rather than back down, but, Paulson redoubled his bets, putting his hedge fund and his reputation on the line.
In the summer of 2007, the markets started to implode, bringing Paulson early profits, but also sparking efforts to rescue real estate and ruin 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 go. Some of the underdog investors who attempted the daring trade also reaped fortunes. But others who got the timing incorrect met devastating failure, learning that being early and right wasn’t nearly enough.
Written by the prizewinning reporter who broke the tale in The Wall Street Journal, The Greatest Trade Ever is a superbly written, quick-paced, behind-the-scenes narrative of how a contrarian foresaw an escalating financial crisis–that outwitted block Prince, Stanley O’Neal, Richard Fuld, and Wall Street’s titans–to make financial history.
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While i agree that this book will give you some insight about the world of hedge funds, it is a far weep from teaching you how you can benefit from this knowledge. Reading it felt exciting, yet empty. The reason for it is that if you truly want to learn how to make money in the stock-market you need to read the works of Toby Crabel, Linda Rasche or some additional professional traders that make living trading the market daily. Their books are very expensive because they do not right for a living, but trade for a living. I had to go find them on Ebay or Amazon. But, their writing is more all ears on the techniques and ways to profit and trade any security, any time. Being very successful in this space myself, it takes a real book from a real trader these days to impress me.
Reader’s Rating: 2 / 5
Would not recommend this book…does not hold your interest. Only buy it if you are obsessed with the financial world.
Reader’s Rating: 2 / 5
The writing in this book is as lackadaisical as that Lehman book written by the ex- employee. The Lehman book sucked beyond comprehension, but the fact that you could delight in how terrible it was, and how pathetic the ‘leader’ was, made it slightly more palatable, sorta like movies that are so terrible their excellent, yet, not reasonably. The people in the book are realistic in that they are reasonably possibly some of the most dull people you could ever read about. Usually, you could make an appealing yarn out of somebody with a ‘glass eye’(not paulson), but man, trying to read about the Glass Eyed guy’s upbringing made me want to drink my own urine ice cold, shaken not stirred.
The theme matter is a excellent topic but the quality of prose reads like a scrolling news banner. I might as well just watch the bottom inch of my tv. In fact, after reading the first hundred or so pages, I felt like I dumbed myself down, and I can tell my review sucks, thanks for building me dumber, merry christmas.
In any case, I wait the sequel about Paulson’s massive ‘GOLD trade’ which I judge he is still holding long, bought a bunch of it over $1000, and a boatload of the gold etf, did Paulson san and his dojo.
Reader’s Rating: 1 / 5
Simply an overzealous attempt to make entertainment by exploiting facts, even Paulson himself has condemned Zuckerman’s account. Writing comes off basic and biased and gives the reader no real insight to the housing bubble. Zuckerman writes more like a gossip columnist than a financial practiced. Save your time and find a book that has more substance.
Reader’s Rating: 1 / 5
The book, like all Amazon stuff I order, arrived in brilliant condition and on time. The book itself was a excellent read. I had a small bit of a tough time getting into it at first, but after getting past the first few chapters of background information on the people, it became reasonably a excellent read. It is permanently appealing how our stock market is manipulated to get gains and how that same manipulation can make such massive losses for others, with none of it based on anything but a hunch and a hope and some history. It proves the theory that one can make money whether or not the stock market (or commodities market) goes up or down.
Reader’s Rating: 5 / 5