The Greatest Trade Ever (43 page)

4.
Gregory Zuckerman and Henny Sender, “Exclusive Club: Ex-Trader Creates Hot Hedge Fund, and a Traffic Jam,”
The Wall Street Journal
, January 12, 2005.

5.
Gregory Zuckerman and Cassell Bryan-Low, “With the Market Up, Wall Street High Life Bounces Back, Too—Chartered Jets, a Wedding at Versailles and Fast Cars to Help Forget Bad Times,”
The Wall Street Journal
, February 4, 2004.

6.
Russ Alan Prince, Edward A. Renn, Arthur A. Bavelas, and Mindy F. Rosenthal,
Fortune’s Fortress: A Primer on Wealth Preservation for Hedge Fund Professionals
, New York: MARHedge, 2007.

7.
Gary Weiss, “The Man Who Made Too Much,”
Portfolio
, February 2009.

1.
Benjamin Franklin,
The Way to Wealth
, 1758 (originally published as a preface to
Poor Richard’s Almanac
).

2.
Courtney Kane, “MasterCard Hopes to Become the Credit Card of Choice for Ordinary, Middle-class Consumers,”
New York Times
, October 22, 1997.

3.
Gregory Zuckerman, “Debtor Nation: Borrowing Levels Reach a Record, Sparking Debate,”
The Wall Street Journal
, July 5, 2000.

4.
Louise Story, “Home Equity Frenzy Was a Bank Ad Come True,”
New York Times
, August 14, 2008.

5.
Gretchen Morgenson and Geraldine Fabrikant, “Countrywide’s Chief Salesman and Defender,”
New York Times
, November 11, 2007.

6.
Lew Sichelman, “Mozilo: End Downpayment Requirement,”
National Mortgage News
, February 17, 2003.

7.
James R. Hagerty, Ruth Simon, Michael Corkery, and Gregory Zuckerman, “Home
Stretch: At a Mortgage Lender, Rapid Rise, Faster Fall,”
The Wall Street Journal
, March 12, 2007; John Gittelsohn and Mathew Padilla, “How New Century Ran Out of Money,”
Orange County Register
, April 15, 2007.

8.
Mark Zandi, chief economist and cofounder of Moody’s
Economy.com
.

9.
CNBC transcript; Interview: Angelo Mozilo of Countrywide Financial Discusses the Housing Market, CNBC:
Kudlow & Cramer
, December 23, 2004.

10.
Carol Lloyd, “Impossible Loan Turns Dream Home into Nightmare,”
San Francisco Chronicle
, April 15, 2007.

11.
Peter S. Goodman and Gretchen Morgenson, “Saying Yes, WaMu Built Empire on Shaky Loans,”
New York Times
, December 28, 2008.

1.
Gabriel Sherman, “New Kid in Town,”
New York Observer
, April 11, 2004.

1.
Mark Pittman, “Subprime Securities Market Began as ‘Group of 5’ Over Chinese,” Bloomberg, December 17, 2007.

1.
Christopher Reed, “The Damn’d South Sea,”
Harvard Magazine
, May–June 1999.

2.
James Grant,
Mr. Market Miscalculates: The Bubble Years and Behind
, Axios Press, Mount Jackson, Virginia: 2008.

3.
“Jesse Livermore Ends Life in Hotel,”
New York Times
, November 29, 1940.

4.
Gregory Zuckerman, “Hedged Out: How the Soros Funds Lost Game of Chicken Against Tech Stocks,”
The Wall Street Journal
, May 22, 2000.

5.
Ezra Zuckerman, “Realists, Constructionists, and Lemmings Oh My! (Part 1),” post on
OrgTheory.net
blog, October 26, 2008.
http://orgtheory.wordpress.com/2008/10/26/realists-constructionists-and-lemmings-oh-my-part-i/
.

6.
Aaron Lucchetti, “S&P Email: ‘We Should Not Be Rating It,’ ”
The Wall Street Journal
, August 2, 2008.

7.
Gregory Zuckerman, “A Bond Star’s Plays Turn Riskier,”
The Wall Street Journal
, August 23, 2006.

8.
George Soros,
Soros on Soros
, New York: John Wiley, 1995.

1.
Devan Sipher and Mireya Navarro, “Mei Sze Chan and Jeff Greene,”
New York Times
, November 4, 2007.

2.
Michael Lewis, “The End,”
Portfolio Magazine
, December 2008.

1.
Serena Ng and Carrick Mollenkamp, “Merrill Takes $8.4 Billion Credit Hit—It Plunged Into CDOs in ’03, Hiring Pioneer of the Debt Securities,”
The Wall Street Journal
, October 25, 2007.

2.
Gary Gorton, “The Subprime Panic,” working paper, Yale School of Management and National Bureau of Economic Research, September 30, 2008.

3.
Serena Ng and Carrick Mollenkamp, “Wall Street Wizardry Amplified Credit Crisis,”
The Wall Street Journal
, December 27, 2007.

1.
Kate Kelly, “Behind a Bear Analyst’s Subprime Call,”
The Wall Street Journal
, July 11, 2007.

2.
Pierre Paulden, “TRADING—Trading on the Edge,”
Institutional Investor—Americas
, June 13, 2007.

3.
Vikas Bajai, “Prospering in an Implosion,”
New York Times
, April 12, 2007.

4.
Kate Kelly, “The Fall of Bear Stearns: Lost Opportunities Haunt Final Days of Bear Stearns—Executives Bickered Over Raising Cash, Cutting Mortgages,”
The Wall Street Journal
, May 27, 2008.

1.
James R. Hagerty and Ken Gepfert, “Dream Homes Not Always Ideal: Some an Ordeal,”
The Wall Street Journal
, September 2, 2007.

2.
Jonathan Karp, “In Beverly Hills, a Meltdown Mogul Is Living Large,”
The Wall Street Journal
, January 15, 2008; Devan Sipher and Mireya Navarro, “Mei Sze Chan and Jeff Greene,”
New York Times
, November 4, 2007.

3.
Henny Sender and Monica Langley, “Buyout Mogul: How Blackstone’s Chief Became $7 Billion Man,”
The Wall Street Journal
, June 13, 2007.

1.
Kate Kelly, “The Fall of Bear Stearns: Lost Opportunities Haunt Final Days of Bear Stearns—Executives Bickered Over Raising Cash, Cutting Mortgages,”
The Wall Street Journal
, May 27, 2008.

2.
Carrick Mollenkamp, Susanne Craig, Jeffrey McCracken, and Jon Hilsenrath, “The Two Faces of Lehman’s Fall—Private Talks of Raising Capital Belied Firm’s Public Optimism,”
The Wall Street Journal
, October 6, 2008; Lawrence G. McDonald with Patrick Robinson,
A Colossal Failure of Common Sense—The Inside Story of the Collapse of Lehman Brothers
, New York: Crown Business, 2009.

3.
See note 2 above.

4.
Kate Kelly, “The Saga of Bear’s Fund Chiefs—In a Jail Cell, One Asks, ‘How Did We End Up in This Spot?,’ ”
The Wall Street Journal
, June 21, 2008.

1.
Cityfile.com
, “Security Precautions: John Paulson Beefs Up the Hedges,”
http://cityfile.com/dailyfile/4361
, February 11, 2009.

GREGORY ZUCKERMAN is a senior writer at the
Wall Street Journal
, where he has been a reporter for twelve years.

GregoryZuckerman.com