Wall Street Journal reporter Greg Zuckerman is spinning the story of John Paulson's massively profitable housing market bet into gold of his own. He's sold a book to Doubleday, netting an estimated $250K range advance, that's based on an early interview that he did with the Paulson & Co's CEO. The book is being called "The Greatest Trade Ever" and could be on the shelves in early 2010. According to the NY Post:
The book aims to show how Paulson and a group of no-name hedge funds made the most unlikely killings in Wall Street's history, betting that the housing market would crack, even as Wall Street banks worked to keep real estate prices climbing.
"It's not a book about the housing crisis, it's about a trade that will be remembered on Wall Street for a long time," said agent David McCormick at McCormick & Williams.
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