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26-05-2011, 09:53 AM
Just finished reading this book on how J Paulson made US$4 billion and US$15billion for his company. He is by far the greatest trader ever. Makes Soros and Livermore like school kids.
Once you start reading very hard to put it down till you finished. Looks like not just him that benefitred from the sub-prime crisis. A few others lesser known people too that make huge sums but small in comparison to him.
Many things to learn from this book. Although he is classifed as a trader but you can still treat him as a Value investor as he reads that the housing is a bubble and far over valued. so it's a matter of how to trade against the poor fundamentals of the sub prime mortgage.
Lately he is betting heavily against the US$ and into gold. For us gold may not make sense as whatever is gain in gold price which is in US$ and after translating into S$(which will appreciate against US$), it cancels out somewhat.
Once you start reading very hard to put it down till you finished. Looks like not just him that benefitred from the sub-prime crisis. A few others lesser known people too that make huge sums but small in comparison to him.
Many things to learn from this book. Although he is classifed as a trader but you can still treat him as a Value investor as he reads that the housing is a bubble and far over valued. so it's a matter of how to trade against the poor fundamentals of the sub prime mortgage.
Lately he is betting heavily against the US$ and into gold. For us gold may not make sense as whatever is gain in gold price which is in US$ and after translating into S$(which will appreciate against US$), it cancels out somewhat.
