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The Greatest Trade Ever: The Behind-the-Scenes Story of How John Paulson Defied Wall Street and Made Financial History
The Greatest Trade Ever: The Behind-the-Scenes Story of How John Paulson Defied Wall Street and Made Financial History
Date: 14 April 2011, 02:37
This is a great read for anyone, especially those with little prior understanding of how markets work. I, for one, was looking for a book that would explain how the housing bubble began and what exactly happened that led to the bubble bursting. This book was perfect. The author does an exceptional job of intertwining personal accounts of the major players who profited from the housing boom with technical analysis of how mortgage-backed securities came to exist, how they were bundled, how firms began trading them and ultimately how individuals such as John Paulson were able to exploit the wilful ignorance of traders who were overly invested in believing housing prices would never drop. By assuming no prior knowledge, Zuckerman makes his work accessible to all and for anyone who wants to understand the lessons that should be learned from the current recession this book is a must read.

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