| The Greatest Trade Ever: The Behind-the-Scenes Story of How John Paulson Defied Wall Street and Made Financial History |  | Author: Gregory Zuckerman
Publisher: Crown Business
List Price: $26.00
Buy New: $14.85
as of 9/8/2010 08:35 EDT details
You Save: $11.15 (43%)
New (36) Used (25) Collectible (1) from $14.42
Seller: books4you88
Rating:  95 reviews
Sales Rank: 2,726
Media: Hardcover
Pages: 304
Number Of Items: 1
Shipping Weight (lbs): 1.1
Dimensions (in): 9.3 x 6.2 x 1.3
ISBN: 0385529910
Dewey Decimal Number: 332.645092
EAN: 9780385529914
ASIN: 0385529910
Publication Date: November 3, 2009
Availability: Usually ships in 1-2 business days
| |
| Features:
| • | ISBN13: 9780385529914 | | • | Condition: New | | • | Notes: BUY WITH CONFIDENCE, Over one million books sold! 98% Positive feedback. Compare our books, prices and service to the competition. 100% Satisfaction Guaranteed |
|
| Also Available In:
|
| Similar Items:
| |
| Editorial Reviews:
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, however, and he knew little 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 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 and the others lost tens of millions of dollars as real estate and stocks continued to soar. Rather than back down, however, Paulson redoubled his bets, putting his hedge fund and his reputation on the line.
In the summer of 2007, the markets began to implode, bringing Paulson early profits, but also sparking efforts to rescue real estate and derail 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 move. Some of the underdog investors who attempted the daring trade also reaped fortunes. But others who got the timing wrong met devastating failure, discovering that being early and right wasn't nearly enough.
Written by the prizewinning reporter who broke the story in The Wall Street Journal, The Greatest Trade Ever is a superbly written, fast-paced, behind-the-scenes narrative of how a contrarian foresaw an escalating financial crisis--that outwitted Chuck Prince, Stanley O'Neal, Richard Fuld, and Wall Street's titans--to make financial history.
|
| Customer Reviews:
Showing reviews 1-5 of 95
 Short this book August 4, 2010
chiplatt (Chicago)
1 out of 2 found this review helpful
This book appears to have received some of the finest reviews among the financial press, and I cannot understand why. The subject is worthy of a serious treatment, but Zuckerman writes as if he is a high school junior trying to please his English teacher. His analysis is simplistic, his characterization of Paulson is superficial, and he really doesn't have much in the way of behind the scenes information. All in all, you may want to spend a couple of hours with it, but no more.
 Gobsmacked... Wow August 1, 2010
ilove2look
1 out of 1 found this review helpful
As I turned the last page I noticed my mouth wide open in disbelief. An amazing, financial roller coaster ride I didn't want to end. Don't hesitate, just read it.
Do Yourself a Favor, Get This Book! July 22, 2010
HowieHardcore
1 out of 1 found this review helpful
I really enjoyed this book. I read it in an afternoon, couldn't put it down. Reminded me of a Ben Mezrich book but I actually liked this author's style better. Amazing story about a little understood, huge event in the world of finance. I came away with a much clearer understanding of why the financial crash occured (and I thought I had understood it fairly good previously). I was really glad the author was even-keeled in his account (many financial books I read seem to have a political axe to grind) and I was satisfied that he covered all of the salient points surrounding the event. This isn't just a story about Paulson, it's about the housing crash, it's about hedge funds, it's about why the banks failed and it's about struggling in business in general. I came away very edified.
Beating the odds July 21, 2010
Edyson Dy (Philippines)
1 out of 1 found this review helpful
There are only a handful people like John Paulson that can beat the odds and pursue investments expecting the housing market to plunge while the market is still surging upward. And it earned him billions of dollars beating George Soros by a mile. The book illustrated the intense pressure that John experienced thinking what if he had made a mistake in anticipating the future housing plunge.
In the end the money he got in billions of dollars was a sweet vindication
From the Perspective of a Finance Geek - Go For It July 17, 2010
E. Agarwal
1 out of 1 found this review helpful
I work in finance, and when I judge finance books, I'm not necessarily looking for objective reporting or flowery wording. Rather, I like getting the inside story, learning things that the WSJ and Dealbreaker won't tell me.
On that front, this book delivers.
You get information about who Paulson was before he became the Paulson we know, we find out the truth about Pellegrini's role in the fund. We find out what other bankers thought of Paulson and the funds strategy. You get some funny anecdotes, and some quotes that, even if not word for word, give you a good sense of what the key players were thinking.
One cautionary note: for the non-finance reader, there are some fairly obtuse financial terms in this book that, while he tries, Zuckerman isn't able to describe as easily as some may like. That said, using sites like investopedia and others, you'll be able to figure out what he's talking about if you're willing to do a little research online.
I'm going to read The Big Short next, and I'll update this review with some comparisons.
Enjoy!
Showing reviews 1-5 of 95
|
|
|
CERTAIN CONTENT THAT APPEARS ON THIS SITE COMES FROM AMAZON SERVICES LLC. THIS CONTENT IS PROVIDED ‘AS IS’ AND IS SUBJECT TO CHANGE OR REMOVAL AT ANY TIME.
| |
