The Greatest Trade Ever: The Behind-the-Scenes Story of How John Paulson Defied Wall Street and Made Financial History Audiobook (Free)

In 2006, hedge fund manager John Paulson noticed something few others suspected–that the housing marketplace and the value of subprime mortgages were grossly inflated and going for a significant fall. Paulson’s history is at mergers and acquisitions, however, and he understood little about real estate or how exactly to wager against housing. He previously spent a career as an also-ran on Wall structure Road. But Paulson was convinced this is his chance to create his mark. He just wasn’t sure how exactly to do it. about THE BEST Trade Ever: The Behind-the-Scenes Tale of How John Paulson Defied Wall structure Street and Made Financial History Co-workers at investment banks scoffed at him and traders dismissed him. Even pros skeptical approximately housing shied from the complicated derivative assets that Paulson was just learning about. But Paulson and a small number of renegade investors such as Jeffrey Greene and Michael Burry started to bet heavily against risky home loans and precarious financial companies. Timing is everything, though. In the beginning, Paulson and others dropped tens of huge amount of money as property and stocks continuing to soar. Rather than back down, however, Paulson redoubled his wagers, placing his hedge account and his popularity at risk.

In the summer of 2007, the markets begun to implode, getting Paulson early income, but also sparking initiatives to rescue real estate and derail him. By year’s end, though, John Paulson had pulled off the best trade in financial history, earning a lot 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 move. A number of the underdog traders who attempted the daring trade also reaped fortunes. But others who got the timing incorrect met devastating failing, discovering that being early and right wasn’t nearly more than enough.

Compiled by the prizewinning reporter who broke the storyplot in The Wall Street Journal, The Greatest Trade Ever is certainly a superbly created, fast-paced, behind-the-scenes narrative of what sort of contrarian foresaw an escalating financial crisis–that outwitted Chuck Prince, Stanley O’Neal, Richard Fuld, and Wall structure Street’s titans–to make credit history.