Confidence Game is a tale about the dangerous delusions that humbled America's largest financial institutions and plunged the country into recession. Its heart is the story of how hedge fund manager Bill Ackman warned that MBIA Inc., a little-known insurance company, had guaranteed nearly a trillion dollars of debt. Branded a fraud in the financial press, Ackman, a short seller who stood to gain billions from the bankruptcy of the company was investigated by the Eliot Spitzer and by the Securities Exchange Commission. Today, Ackman's warning looks remarkably prescient. The invisible bond insurance business has all but evaporated and so has confidence in the markets.
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Numero 148 in BloombergKieli:
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The Myth of the Rational Market : A History of Risk, Reward, and Delusion on Wall Street
Dealers of Lightning
The Great Depression Ahead: How to Prosper in the Crash That Follows the Greatest Boom in History
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Chinese Rules : Mao’s Dog, Deng’s Cat, and Five Timeless Lessons for Understanding China
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Money in the Twenty-First Century : Cheap, Mobile, and Digital
Smart Trust : Creating Posperity, Energy, and Joy in a Low-Trust World
Beyond Diversification : What Every Investor Needs to Know About Asset Allocation
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Advances in Time Series Forecasting: Volume 2
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The New Tycoons : Inside the Trillion Dollar Private Equity Industry That Owns Everything
201 Great Ideas for Your Small Business, 3rd Edition
Trillion Dollar Economists : How Economists and Their Ideas have Transformed Business
The Voice of the Rising Generation : Family Wealth and Wisdom
Complete Family Wealth : Wealth as Well-Being (2nd Edition)
Investing 101, Updated and Expanded Edition
Family Wealth : Keeping It in the Family--How Family Members and Their Advisers Preserve Human, Intellectual, and Financial Assets for Generations
The Cycle of the Gift : Family Wealth and Wisdom
Family : The Compact Among Generations
Complicit : How Greed and Collusion Made the Credit Crisis Unstoppable