Confidence Game: How Hedge Fund Manager Bill Ackman Called Wall Street's Bluff

"This a riveting account of a tenacious investor, incompetent/apathetic regulators & analysts and a company that hid information, deceived investors and used every connection it had in its attempts to silence him. For me, this is the best of the ‘melt down’ books to date … hands down." — Todd Sullivan, valueplays, April 2010 " Ackman’s pursuit of MBIA spanned the two major crises of capitalism of the last decade, from the earlier era of corporate fraud prosecutions epitomized by Enron and i

history. Confidence Game: How a Hedge Fund Manager Called Wall Street's Bluff is the story of Bill Ackman's six-year campaign to warn that the $2.5 trillion bond insurance business was a catastrophe waiting to happen. An expose on the delusion, greed, and arrogance that led to America's credit crisisThe collapse of America's credit markets in 2008 is quite possibly the biggest financial disaster in U.S. Branded a fraud by the Wall Street Journal and New York Times, and investigated by Eliot Spitzer and the Securities and Exchange Commission, Ackman later made his investors more than $1 billion when bond insurers kicked off the collapse of the credit markets.Unravels the story of the credit crisis through an engaging and human dramaDraws on unprecedented access to one of Wall Street's best-known investorsShows how excessive leverage, dangerous financial models, and a blind reliance on triple-A credit ratings sent Wall Street careening toward disasterConfidence Game is a real world "Emperor's New Clothes," a tale of widespread delusion, and one dissenting voice in the era leading up to the worst financial disaster since the

"Confidence Game Also Sheds Light on Ackman's Herbalife Battle" according to PyramidSchemeAlert. I was prompted to read Confidence Game to learn more about famed hedge fund manager, William Ackman. I did learn much about him. But I learned far more about the mysterious world of the bond market, ratings, and insurance. I also learned deep and enduring lessons about th. A really great read! Howard I bought this book along with David Einhorn's ( Fooling Some of the People All of the Time, A Long Short (and Now Complete) Story, Updated with New Epilogue ) which is very similar in the storyline and end result.I thought this book was presented much better and I found m. Miroslav Krajnak said A MUST to have among the books on recent financial crisis. This book is about the late "A MUST to have among the books on recent financial crisis" according to Miroslav Krajnak. This book is about the late 2000s financial crisis, revolving around the battle between MBIA, the largest and highly leveraged BOND INSURER, and Bill Ackman, a hedge fund manager, who in the course of several years has accumulated a huge SHORT position on MBIA.Other playe. 000s financial crisis, revolving around the battle between MBIA, the largest and highly leveraged BOND INSURER, and Bill Ackman, a hedge fund manager, who in the course of several years has accumulated a huge SHORT position on MBIA.Other playe