The Greatest Trade Ever: How One Man Bet Against The Markets And Made $20 Billion

Description

It's Autumn 2008. The world's finances collapse but one man makes a killing. John Paulson, a softly spoken hedge-fund manager who still took the bus to work, seemed unlikely to stake his career on one big gamble. But he did - and "The Greatest Trade Ever" is the story of how he realised that the sub-prime housing bubble was going to burst, making $15 billion for his fund and more than $4 billion for himself in a single year. It's a tale of folly and wizardry, individual brilliance versus institutional stupidity. John Paulson made the biggest winning bet in history. And this is how he did it.

Reviews

Simply terrific. Easily the best of the post-crash financial books -- 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 A must-read for anyone fascinated by financial madness Mail on Sunday A forensic, read-in-one-sitting book Sunday Times Extraordinary, excellent Observer Compelling Economist 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

Author description

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.