Dec
17th
Fri
17th
HFM: People talk about the Paulson mortgage trades. But if there had been more people like Paulson shorting the mortgages, that might have pushed the spreads wider and raised an alarm bell.
n+1: You should have gone short, too.
HFM: Don’t remind me. Everybody kept asking me, “Have you read that book, The Big Short?“ And I’d say, “No, its just too painful.”
And then I read it. It’s a great book.
