His trade is legendary now, so much so that the Wall Street Journal’s Gregory Zuckerman penned a book about it titled The Greatest Trade Ever, but at one time John Paulson was something of a joke. Bulge bracket banks like Goldman Sachs took his calls and filled his orders in which he bought he bought insurance on mortgage backed bonds, but in the eyes of his GS coverage (as recounted by Michael Lewis in The Big Short) Paulson was a “was a third-rate hedge fund guy who didn’t know what he was talking about.” …read more
Source: FULL ARTICLE at Forbes Latest