8 /10 1 Votes
Language English Media type Print, e-book ISBN 978-0385529945 Originally published 3 November 2009 Publisher Crown Publishing Group Country United States of America | 4/5 Goodreads Publication date November 3, 2009 Pages 320 pages OCLC 651902245 Genre Non-fiction | |||||||||||||||||||||||||||||||||
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Subjects Financial crisis of 2007–2008, Subprime mortgage crisis Similar Hedge fund books, Non-fiction books | ||||||||||||||||||||||||||||||||||
The Greatest Trade Ever: The Behind-the-Scenes Story of How John Paulson Defied Wall Street and Made Financial History is a debut non-fiction book by American journalist Gregory Zuckerman. The book was released on November 3, 2009 by Crown Business. The book investigates the reasons and consequences of the subprime mortgage crisis and the role that hedge fund manager John Paulson played in those events.
Contents
Overview
In 2006, John Paulson organized Paulson Credit Opportunity Fund that bet against bonds backed by subprime mortgages using credit default swaps. Paulson "shot to fame and fortune" when his investment strategies paid off during the subprime housing market crash. His bet against the subprime mortgage bubble has been called "the greatest trade ever" by Gregory Zuckerman. Paulson's involvement in the Abacus-2007AC1 deals resulted in Goldman Sachs paying a $550 million penalty, the largest ever paid by a Wall Street firm.
Recognition
The Greatest Trade Ever became a New York Times and Wall Street Journal best-seller and has since been translated into nine languages.