Wednesday, February 1, 2012

A mind blowing story of how a savy investor questioned the rating agencies

http://www.amazon.ca/Confidence-Game-Manager-Ackman-Streets/dp/0470648279


Just started reading this book.  It seems that for a long time as everyone is by now well aware rating agencies have been putting AAA ratings on companies that are not warranted.

This is the story of an investor that took a huge bet against a company whose fundamentals didn't warrant such a high rating. 

No comments: