I've always been bullish on U.S. real estate, but we found value in shorting subprime because the loans were so badly underwritten.
Investors
John Paulson
Born in 1955 in New York, John Paulson rose from obscurity managing a modest merger-arbitrage hedge fund to global fame by deploying credit default swaps to short subprime mortgage securities ahead of the 2007 crisis, personally earning roughly four billion dollars in a single year. The trade, chronicled in Gregory Zuckerman's book, is widely regarded as the greatest in financial history.
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