le 5 septembre 2016
Zuckerman describes with great talent one of the most amazing financial plays in the history of financial markets. While "The big short" by Michael Lewis (another great book by the way) focuses on a bunch of outsiders that have profited from the housing market collapse, this books narrates the story of an insider (John Paulson) who was able to make a killing by engaging in a similar behavior but at a much larger scale (the trade netted circa $20 billion, among which $15 billion for Paulson himself). The common ground with the characters appearing in "The big short" is that Paulson, while being part of Wall Street's investment community was no real estate specialist (his expertise lies within the field of merger arbitrage). Just like Michael Burry, Paulson basically bet on the collapse of the housing market because "he had to". He hasn't been so successful in his calls recently, but his huge bet on gold could pay off big time in the next few years. Future will tell. Rating: Five stars.
le 25 juillet 2013
Quand j'ai commencé ce livre je ne savais pas très bien à quoi m'attendre. Après quelque lecture je n'ai pas laché l'affaire tellement l'histoire est fascinante. Mais ce que j'ai adoré le plus c'est quand j'ai mis à jour mes informations sur le manager du hedge fund j'ai appris qu'il a beaucoup perdu après son coup du siècle qaprès avoir misé sur l'or. Ceci confirme ce que Nassim Nicholas Taleb a déjà mentionné à propos du marché, C'est du hasard et de la chance.