The Greatest Trade Ever [EPUB]
18 March 2014, 01:17
2010 | EPUB | 449.49KB
In 2006, hedge fund manager John Paulson realized something few others suspected--that the housing market and the value of subprime mortgages were grossly inflated and headed for a major fall. Paulson's background was in mergers and acquisitions, however, and he knew little about real estate or how to wager against housing. He had spent a career as an also-ran on Wall Street. But Paulson was convinced this was his chance to make his mark. He just wasn't sure how to do it. Colleagues at investment banks scoffed at him and investors dismissed him. Even pros skeptical about housing shied away from the complicated derivative investments that Paulson was just learning about. But Paulson and a handful of renegade investors such as Jeffrey Greene and Michael Burry began to bet heavily against risky mortgages and precarious financial companies. Timing is everything, though. Initially, Paulson and the others lost tens of millions of dollars as real estate and stocks continued to soar. Rather than back down, however, Paulson redoubled his bets, putting his hedge fund and his reputation on the line.
In the summer of 2007, the markets began to implode, bringing Paulson early profits, but also sparking efforts to rescue real estate and derail him. By year's end, though, John Paulson had pulled off the greatest trade in financial history, earning more than $15 billion for his firm--a figure that dwarfed George Soros's billion-dollar currency trade in 1992. Paulson made billions more in 2008 by transforming his gutsy move. Some of the underdog investors who attempted the daring trade also reaped fortunes. But others who got the timing wrong met devastating failure, discovering that being early and right wasn't nearly enough.
Written by the prizewinning reporter who broke the story in The Wall Street Journal, The Greatest Trade Ever is a superbly written, fast-paced, behind-the-scenes narrative of how a contrarian foresaw an escalating financial crisis--that outwitted Chuck Prince, Stanley O'Neal, Richard Fuld, and Wall Street's titans--to make financial history.
Crazy Town: The Rob Ford Story [EPUB]
11 March 2014, 10:51
2014 | EPUB | 1.74MB
Shocking new revelations about Toronto Mayor Rob Ford, his family and associates by the Toronto Star reporter who has closely covered Ford’s career. Crazy Town: The Rob Ford Story, by Robyn Doolittle, will chronicle Ford’s ascent from a flamboyant city councillor to a mayor embroiled in controversy.
Escape from North Korea [PDF]
11 March 2014, 04:56
2012 | PDF | 4.44MB
From the world’s most repressive state comes rare good news: the escape to freedom of a small number of its people. It is a crime to leave North Korea. Yet increasing numbers of North Koreans dare to flee. They go first to neighboring China, which rejects them as criminals, then on to Southeast Asia or Mongolia, and finally to South Korea, the United States, and other free countries. They travel along a secret route known as the new underground railroad.
With a journalist’s grasp of events and a novelist’s ear for narrative, Melanie Kirkpatrick tells the story of the North Koreans’ quest for liberty. Travelers on the new underground railroad include women bound to Chinese men who purchased them as brides, defectors carrying state secrets, and POWs from the Korean War held captive in the North for more than half a century. Their conductors are brokers who are in it for the money as well as Christians who are in it to serve God. The Christians see their mission as the liberation of North Korea one person at a time.
Just as escaped slaves from the American South educated Americans about the evils of slavery, the North Korean fugitives are informing the world about the secretive country they fled. Escape from North Korea describes how they also are sowing the seeds for change within North Korea itself. Once they reach sanctuary, the escapees channel news back to those they left behind. In doing so, they are helping to open their information-starved homeland, exposing their countrymen to liberal ideas, and laying the intellectual groundwork for the transformation of the totalitarian regime that keeps their fellow citizens in chains.