When the Wolves Bite: Two Billionaires, One Company, and an Epic Wall Street Battle (English Edition)

Gotham Partners, went short on MBIA stock, betting its shares would plummet if the then white-hot housing market weakened. In addition, he’d bought something called credit default swaps—insurance policies, in effect, that would pay

Och Ziff Capital Management. With Stern’s blessing, the Ziffs

So Johnson did the unthinkable. He picked up the phone and called into CNBC’s Street Signs program and unloaded on Ackman in a tirade reflecting his outrage.

For a short seller who is as risk-averse as me, watching this is pure hedge fund porn.”24