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

An expose on the delusion, greed, and arrogance that led to America's credit crisis. The collapse of America's credit markets in 2008 is possibly the biggest financial disaster in U.S. history. Confidence Game details Bill Ackman's six-year campaign to warn about the impending catastrophe in the bond insurance business. Branded a fraud by major newspapers and investigated by regulators, Ackman later earned his investors over $1 billion when the credit markets collapsed. The book explores the credit crisis through gripping human stories, shows how leverage and risky financial models fueled the disaster, and depicts a Wall Street blinded by overconfidence and faulty ratings.