The $8.4 Billion Bet

[Rickson9]

This was an old 60 Minutes episode.

Author Michael Lewis talks about the handful of outsiders that bet against the housing market before the crash.

One story is about Michael Burry who bet big and booked a profit of $725M (starts at the 4 minute mark)

Part 1
Inside The Collapse, Part 1 - 60 Minutes - CBS News

Part 2
Inside The Collapse, Part 2 - 60 Minutes - CBS News

 

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[Guest3722A]

True market timers can definitely prove to be an interesting breed.

(this article was from May)


John Paulson: Housing Prices to Rise 3-5% This Year, 8-12% in 2011


John Paulson, the hedge fund manager who raked in $15 billion shorting the housing market, said Monday that he expects home prices to increase between 3% and 5% this year and another 8 to 12 % nationwide in 2011, CNBC reported Monday.
Paulson, who made his comments in a conference call with investors on Monday, also said he expects a V-shaped economic recovery.
During the conference call Paulson made no mention of the SEC’s case against Goldman Sachs (GS), which involves the CDO that his hedge fund helped create and then bet against.

John Paulson: Housing Prices to Rise 3-5% This Year, 8-12% in 2011

 

[M&T]

That's why I'm buying now!!!!!!!!!!!!!!!!!!!!!!!!!