(ritholtz.com) There is a fascinating article about John Paulson in this month’s Portfolio.
What is so intriguiging is not the billions Paulson made on the collapse, but this exchange between short fund manager Jim Chanos and Bear Stearns CEO Jimmy Cayne.
Chanos, for one, is tired of the blame-the-shorts litany, and he recalls a conversation with Bear Stearns’ Schwartz to make his point.
The day before the Fed’s rescue of Bear Stearns, Chanos says he was walking to the Post House restaurant in New York City, when, at 6:15 p.m., his cell phone rang. He saw the Bear Stearns exchange come up on his caller I.D. and took the call.
Read the entire article
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