“More Money Than God”: Paulson’s Subprime Trade

The days aren't so bright and cheery for John Paulson, what with his hedge fund down nearly 40%. They're certainly not as cheery as they were five years ago, when he made his famous bet against subprime mortgages and made billions of dollars. I just finished reading Sebastian Mallaby's awesome book, "More Money Than God", about history of hedge funds, and Paulson features towards the end of the book. It's a brilliant read, touching on all the major hedge funds and their various strategies. What jumped out though was John Paulson putting on his big bet via the

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